08 Jun Reduce Cart Abandonment by giving customers more payment options
There’s unfortunately so many reasons why online shoppers bail out from completing their online purchases. One reason for cart abandonment is simply not offering them their preferred payment method at the point of checkout.
Having various payment options gives customers choice as to how they pay you. Apart from shoppers having their personal preferences, giving them options allows them to fall back to a secondary method if their primary is not available. e.g If they don’t have their Visa card on them they could pay using their PayPal account.
Another reason for cart abandonment is just the time it takes for your customers to enter their credit card details. With PayPal this can be mitigated, as all it takes for your customer to checkout is to login into their PayPal account with simple and fast checkout – no credit card details need to be entered.
We’ve recently expanded available checkout payment methods for our event technology platform to allow for Visa, MasterCard, American Express and PayPal payments. We’ve been surprised by the spread of customer payment preferences and it’s definitely worth ensuring multiple options if you want to lift your shopping cart purchase success rate.