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Remember the days when shopping Black Friday meant camping outside of stores at 1 or 2 a.m. in order to save a few bucks on the latest television set, gaming system, or laptop computer. Consumers would fight over items because 100 or more people had lined up for hours when the store only carried a dozen or so of the popular product advertised. Not much in the way of a positive customer experience, but customers tolerated the process to save a few dollars.
Are you asking your clients to endure a clunky and unpleasant payment experience so you can save a few dollars on payment processing?
Today the face of Black Friday has changed because of the increased popularity of online shopping. Now sales often start on Wednesday or Thursday, and shoppers can snag the latest deals from the comfort of their home without braving the cold or the crowds.
Upgrading your customer payment experience can increase inbound payments and improve profit margins, much like online shopping has changed the Black Friday shopping experience.
Customer Experience is still King
If you have dealt with technology companies that have horrible customer service or websites that are difficult to navigate, you know how frustrating it can be. When you get to a new website, you want to find what you are looking for in seconds, not minutes. You want to know if this is the right place at a glance, without having to take on the role of a research assisant.
If your online payment website is not producing a seamless customer payment experience, then you are losing money. Your payment processing solution choice plays a central role in that experience.
Many companies look at payment processing as a commodity and buy solely on price. Do you shop at Kmart for jewelry because they have the lowest price? Do you go to WalMart for a new computer? No, you go to a store like Best Buy, because their staff knows the difference between a Mac and a PC and can give you intricate details on which product will meet your needs. Computers and jewelry are available everywhere, but do you really want the cheapest one on the shelf?
Payment Processing Solution that focuses on the Payment Experience
Payment processing works the same way. Instead of choosing a service provider based on pricing, be sure to find a payment processing solution that considers your customer experience and designs its customer facing payment page with making their experience easy, which will result with an increase of inbound payments for your business.
The Baymard Institute published a comprehensive study on the checkout usability of leading ecommerce sites and found that the average payment site can increase its conversion rate (the rate that consumers successfully complete the payment process) by 35.26%, http://baymard.com/checkout-usability, based solely on having a payment page that is designed with the best customer payment experience in mind.
A good customer experience should take into consideration with its design how to avoid confusion, reduce friction as your customers navigate through the payment process, and avoid choice paralysis. These considerations also need to be applied to the many different devices that your customer’s now use to interact with your business payment page, such as tablets and mobile devices.
Have you walked through the online payment experience that you are currently utilizing? Or requested a demo on the payment processing solutions you are shopping for currently? Is it cumbersome? Or do you find it intuitive for even the least sophisticated user?
PDCflow recently released a User Interface that takes an easy customer experience one step further than just providing an easy and intuitive online payment portal, but allows your business, medical office, or collection agency to send the payment to the consumer who then simply validates their identity and approves the payment in 2 simple clicks.
Do you want to increase your inbound payments by up to 35%? Then investing in a payment processing solution that goes beyond just taking the payment, but has designed its system for a user friendly, smooth customer experience needs to be part of your buying checklist.
For more information or to request a demo of the PDCflow system, please Contact Us or call 877-732-4814 to speak to a Payment Processing Expert.