Many of us appreciate having choice about how we pay for goods and services. Maybe we like to put larger purchases on a credit card rather than a debit card. Or to use different payment methods for in-store purchases and online shopping. And perhaps we find eChecks handy for paying bills.
Offering your customers a range of ways to pay can have a positive impact on their shopping experience. Add in convenience and security, and you can be well on the way to building a loyal customer base and accelerating your growth.
Offer the payment types customers prefer
So, can offering different payment types make your customers happy to shop with you? Whether you sell online, in store, or both, you should try to offer the options that meet most customers' preferences. Your payment processing platform should allow you to accept:
- Debit and credit cards. Card payments are pretty much a must-have for both eCommerce and in-person payments. For in-person purchases, you'll probably want to offer customers the convenience of contactless card payments, too.
- Digital payments. Add more choice by enabling customers to pay using digital wallets like Apple Pay and PayPal.
- eChecks. Ideal for recurring transactions like bill payments and subscriptions, eChecks also offer faster processing and deposits than traditional paper checks.
A smoother payment experience
As well as giving customers choice about how they pay, look for a payment processing platform with additional features that can positively impact the payment experience. In general, most people will choose options that require them to make the least amount of effort. This so-called 'principle of least effort' is widely applied to consumer behavior. So, it's worth considering ways to:
- Make things easier for returning customers. Make checkout faster and easier for returning customers by securely storing their payment information so customers don't have to re-enter their details every time they check out.
- Simplify recurring billing. A great solution for subscription—and membership-based businesses—customers just set up their payment details once and are automatically charged at each billing cycle.
- Avoid the hassle of expired cards. Save customers the trouble of updating their stored details when they receive a new card. Use a service that automatically updates their card-on-file information to help avoid the friction and lost sales that can have a negative impact on the shopping experience.
A more secure payment experience
On top of payment choice and convenience, customers also care about the security of their payment information and transactions. If they think a payment method could be risky, they may be less likely to use it—even if it can make shopping easier or checkout quicker.
Investing in secure payment systems and communicating about your security measures can help reduce perceived risk and increase customer trust. Look for a payment processor that helps you store customers' payment information in a PCI DSS-compliant manner.
You should also consider using a fraud detection solution that helps identify, manage, and prevent suspicious and potentially fraudulent transactions to give customers peace of mind and minimize the impact of fraud on your business.
All this and more, with Authorize.net
Choosing Authorize.net as your payment processor positions you to offer your customers the choice, convenience, and security that help deliver a great experience.
Pediatrician and life coach Dr. Penelope Hsu says: "Authorize.net is the primary way I take payment for my clients, so it keeps my business running. People feel comfortable and safe using it."
Our platform lets you accept the payment types customer prefer, including eChecks. It offers features like secure customer information management, recurring billing, and automatic card updates, as well as a powerful, easy-to-use solution for fraud management.
Ready to learn how Authorize.net can help you enhance the customer experience with payment choice and convenience? Contact us or call us on 1-888-323-4289.
Disclosure: Case studies, comparisons, statistics, research, and recommendations are provided “AS IS” and intended for informational purposes only and should not be relied upon for operational, marketing, legal, technical, tax, financial or other advice. Authorize.net neither makes any warranty or representation as to the completeness or accuracy of the information within this document, nor assumes any liability or responsibility that may result from reliance on such information. The Information contained herein is not intended as investment or legal advice, and readers are encouraged to seek the advice of a competent professional where such advice is required.