Merchants with web-based stores or multichannel efforts might not be earning as much revenue as possible from online credit card payment processing if they are making common mistakes.
Mashable lists seven mistakes that can costs retailers valuable sales – a slow site, an over-complicated payment process, a long-winded transaction process, a site that doesn’t work on multiple browsers, expensive shipping, pushing an optimized app and making irrelevant offers.
An online storefront that is too slow can lead to a high abandonment rate, the source reports. A study by Gomez found that 8 percent of customers will drop out for every two seconds of load time. Since many customers use ecommerce for speed and convenience, it makes sense that they might be easily discouraged when they’re forced to wait for a page to load. Third-party plug-ins from Facebook, Twitter and other ad networks can cause a site’s speed to lag.
If shoppers have to fill out too many fields to get to the credit card terminal, they are more likely to drop off. Asking consumers to complete more than five steps can discourage sales, the source reports. Yet, an Online Shopper Experience survey by marketing platform provider Bronto Software found that customers must go through 5.6 steps on average from cart to confirmation.
If ecommerce merchants can eliminate these problems from their sites, they might realize a better profit margin from their online efforts.Back To Blog