Customers prefer faster checkouts.
No one likes waiting. At least not at checkout while shopping online. Consumers strongly prefer faster checkouts and their preferred modes of payment. And not providing them could mean lost sales. Recent research shows that two out of ten consumers in Europe abandon a purchase if checkout takes more than a minute. And 15% abandon their cart if their desired payment method is not available.
Yet, many e-commerce merchants struggle to create the checkout experience they would like to have. Consider this. 94% of e-commerce businesses in Europe have five or more errors in their checkout processes. Some of these include improper card data formatting and error handling, not supporting popular payment methods, and not allowing customers to save their payment data for future use.
Errors and delays in the checkout process seriously hamper the shopping experience. Not only does it create friction with customers, but it also damages your brand name.
To create a great checkout experience for your customers, you have to solve basic errors on the checkout page and optimize it to remove friction. One page checkout takes away many of the issues and simplifies the checkout process. This could make a big difference to your business.
How is one page checkout faster?
E-commerce websites usually ask customers to log in or create an account to complete the checkout. But, data from Baymard found that 37% of shoppers abandon their carts when asked to create a new account. Some even refuse to continue the checkout when asked to log in to their existing accounts.
This creates a tricky problem.
One page checkout focuses on simplicity and convenience. With one page checkout, your customers can fill in their details and make the payment, all on one page. This saves a lot of time and makes the entire checkout much easier. Rather than open an account, customers can checkout as guests without having to log in.
Unlike multi-page checkouts, fewer clicks are required to complete the order with one page checkout. It allows customers to enter their data in one step and quickly complete the checkout process. Personal details such as names and shipping addresses can be auto-filled after few clicks.
For existing customers, the checkout page can recognize a customer through his email and automatically fill in their billing information to save checkout time. They can start buying immediately after logging in.
How to set up one page checkout in your e-shop
One page checkout should be easy to understand. Use a simple and user-friendly design, which helps customers to fill out the required information. It also helps them to verify their details as they can see them all on one page. This prevents them from filling in their details incorrectly.
Customers should also be able to view all additional information and steps on one single page. For instance, they should be able to check terms and conditions, returns policies, review their order, and apply coupon code right on the checkout page.
You can also offer a range of payment options for your customers using one page checkout. It can seamlessly integrate with a variety of payment modes. Thus, your customers can pay securely through a secure PCI DSS Level 1 page hosted by your payments partner.
With one page checkout, you have full control over the appearance and operation of the payment page. Because it integrates seamlessly, you do not have to redirect your customer to any external sites.
All of this will make your checkout much faster and seamless. This, in turn, will enhance the buyer experience and lead to lesser abandoned sales.
How can a payments partner help?
Your payments partner can help you to set up the right one page checkout for you based on your business needs. They can help you understand the right strategy and give you access to the right tools to build the most suitable payments page for you.
For instance, we can help set up a hosted payment page for you, which is the simplest payment integration for any platform. Your customers pay on a secure PCI DSS Level 1 page hosted by Novalnet. No PCI compliance is required on your website. You also get full control over the appearance and operation of the payment page.
Also, ensure your partner supports payments in different currencies and payment methods. These should be supported across devices (web, mobile, etc.). Your payments partner should also offer PCI DSS fraud management and intelligent threat detection capabilities.
One page checkout can be a great way to redefine how your customers shop online and make payments. Creating a safe and seamless checkout will go a long way in building a lasting relationship with your customers.
Jose Augustine is the Chief Business Development Officer at Novalnet AG with extensive experience in European payment industry and a knowledge powerhouse.