Tip #1: Optimize your online payment form
In 2021, the average conversion rate across all e-commerce sites was 2.96%.¹ Despite a 30% increase compared to the previous year, this indicator remains relatively low. The main culprit? The payment page of websites, the last step in the purchasing process. In fact, around 7 out of 10 consumers say they have already abandoned their cart at this stage of the journey.²
Provide a safe and secure environment for its customers
Checkout is an engaging step for the customer. This is the moment they complete their purchase by entering their bank details into your online payment form. For this reason, and to avoid any cart abandonment, the checkout process must be sufficiently reassuring, clear, and simple.
This involves highlighting reassuring elements (your payment provider’s logo, security badges, visible T&Cs, etc.) or the layout and design of the form (natively integrated into your website or hosted by your payment solution, while maintaining your graphic charter). At the slightest doubt during the payment process, your customer will interrupt their purchase.
Design a mobile-first interface
The number of transactions made from a mobile or tablet increased by 23% in 2021 in France³. Thinking “mobile first” is no longer an option, but a real necessity. Today, a payment page must therefore be responsive, that is, adaptable to all devices (computer, tablet, smartphone) in order to optimize the user experience and thus increase the conversion rate :
- Layout and page size adapted to screens
- Native number pad
- Auto-spacing
There are also many options to simplify the payment process on mobile or tablet, such as automatically filling in saved data or using the camera to directly integrate numbers (bank card, IBAN, etc.) into the payment form.
Simplify the payment form
Too many clicks can negatively impact your customer’s experience. Simplifying your checkout process can help ensure a better conversion rate. This includes reducing the number of fields you need to fill out. Use A/B testing on your checkout page to see if certain changes are positively impacting your conversion rate.
Please note that to accept an online payment by credit card, only 3 fields are required (card number, expiry date and CVV).
Tip #2: Offer your customers’ preferred payment methods
A preferred payment method for the French, integrating bank cards may seem essential to any e-commerce website’s payment page. However, it’s important to remember that your choice of payment methods should be based on a study of your offering (price, billing model, etc.) as well as that of your target audience and their habits. Offering a wide range of payment methods therefore guarantees a lower shopping cart abandonment rate. 1 in 2 buyers say they have abandoned an online purchase due to the unavailability of their preferred payment method⁴.
For example, an e-commerce site or B2C marketplace will favor the integration of bank cards, while a B2B site or marketplace will focus more on SEPA transfers or payment initiation.
Tip #3: Offer payment facilities
In recent years, numerous payment options have emerged, enabling them to meet customers’ changing consumption habits and expectations. These payment options offer personalization and flexibility, serving as real conversion drivers for online platforms.
- One-click: Easy to save payment cards to simplify transactions for recurring customers.
- Split payment (spread over X times): Payment method allowing a payment to be divided into several installments and then customer withdrawals to be automated on the scheduled dates.
- By Now, Pay Later (BNPL): Equivalent to a consumer loan and offered by specialized providers (supervised by a credit institution), it allows purchases to be paid for in installments or deferred. The institution immediately pays the full amount, less its commission, to the merchant, and then takes charge of recovering the sum from the customer.
Tip #4: Anticipate payment failure
Unfortunately, payment failures happen, for a variety of reasons (insufficient funds, expired card, input errors, suspected fraud, etc.). By preparing specific protocols in advance in case of failures, you can circumvent them by offering alternative online payment paths to your customers.
In the event of a payment failure, a bank return code is sent to you via your payment service provider. Once you have received the reason for the failure, you can apply your protocol to obtain payment in another way. For example, if the reason is “insufficient funds,” it may be worth offering the option of split payment, in order to spread the payments over several installments. If the bank card has expired, it may be possible to offer the customer the option of paying by bank transfer, for example.
Tip #5: Enrich your customer knowledge with payment data
The payment journey allows you to collect a wealth of information about all your customers (purchase frequency, preferred payment method, purchase history, etc.). Ultimately, this data can be used to create a unified and personalized shopping experience, at any stage of the journey (basket creation, payment stage, after-sales service, etc.), whether or not they are members of your loyalty program.
Furthermore, understanding customer journeys is a valuable source of information for making strategic and operational decisions adapted to purchasing habits.
¹ Moderator’s Blog (BDM), Key e-commerce figures in 2022
² Emarsys, Abandoned Carts: 10 Strategies to Avoid Missing Out on Sales (2021)
³ FEVAD, Review of e-commerce in France in 2021
⁴ Stripe Study (2022)
