The growth of online purchases during the pandemic is no secret:
One of the biggest issues with eCommerce currently is carts being abandoned before checkout. The Baymard Institute found that, on average, 70% of online carts were abandoned before purchase. Of the top 10 reasons for this, 3 related to the perceived complexity, or safety of the checkout platform.
It is clear that online transactions must be simple and provide users with a safe, reliable means of paying – in at a time where so much business is being done online, merchants need would be wise to ensure that consumers aren’t leaving their sites empty handed.
To counteract this, merchants should seek seamless portal integration with their websites, as well as an easy-to-use UI that will prevent users from being discouraged at the checkout.
Store owners always need to make sure that their payment gateway providers are compliant with the highest levels of payment security regulation. PCI DSS standards should be sought as a minimum, with two-factor authentication and other security measures helping customers feel safe in their purchase.
Another key reason for abandoned carts, according to Baymard, is the lack of payment options available. Merchants should look for a gatewaywill most likely want to use a platform that supports all major card schemes, as well as phone pay options such as Apple and Google Pay. In addition, by supporting over the phone and pay by link functionality, store owners can ensure that all bases are covered.