Before we discuss the various payment methods for ecommerce sites, let us discuss what we are currently experiencing, i.e. the holiday season of 2015.
The holidays are about to start, and with it, bringing an end to the holiday shopping season that started in early November. In another day or two, last minute shoppers will visit a retail location or most likely go online and be done with their shopping.
E-retailers will take a few days off and then be all set for business back on the 4th of January 2016 and one of the first things they will do, if they haven’t done it already, is to gauge last year’s performance, especially during the holiday season.
Shopping Cart abandonment on Ecommerce Sites
Herein lies the good news and bad news. Most ecommerce websites would have seen a rise in web traffic and sales, this is good. Anytime you see more people visiting your online store, that always is good news? Not always, so here is the bad news. As with the rise in traffic and online sales, you will also notice a rise in shopping cart abandonment.
Shoppers came, they saw, most likely they tried to shop, but then they left.
Why, you ask?
Well the answer is simple. Just as you were ready for the season, with fantastic discounts, better SKUs, faster shipping methods, etc. the one thing you most likely left out was, that over 50% of your customers would be accessing your website, via a mobile device - did you make the experience of shopping on the mobile device any less painful for them?
Chances are you didn’t think too much on this front.
The world as we know it is gravitating has gravitated towards the mobile, one hardly needs any proof. Head out to a cafe, a restaurant, a bus stop, the train station, shopping mall, the airport, school, hotel lobby, at the home, in a bar, and everyone is using their mobile. People aren’t carrying around their desktops or laptops to surf and connect. People are mobile. Your website should be mobile friendly (and optimised) and your checkout mechanism also needs to be mobile friendly.
A mobile strategy for m-commerce is one of the first things you should consider for 2016.
So, to answer what is the best payment method for ecommerce sites? The answer is one that is convenient and secure. Never have we come across a shopper who enjoys filling out forms when on the mobile during checkout.
Checkout payments are so skewed on the mobile today that they are mostly responsible for shopping cart abandonment. This is where you need to analyze. How do you offer the most common payment method on the phone, yet making it convenient and secure?
Learn how Sign2Pay can help you bridge this gap and better optimize your mobile checkout process. Not only is our ecommerce payment gateway optimized for the mobile, it is intuitive. As easy as signing your name.