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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.
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With the advent of technology and increased digital penetration, more people are finding it convenient to shop online. Making the online transaction process intuitive and glitch-free is crucial to encourage conversion of sales. How quickly and effortlessly customers can check out from your website will determine their return rate – and ultimately the success of your online business.
Here are some points to keep in mind while designing your checkout page.
Customers expect and appreciate a variety of payment options on your website. While it may not be feasible or practical to provide every conceivable option, it is important to take note of your target audience and incorporate the payment methods they prefer on your checkout page. In addition to popular methods such as direct bank transfers or credit/debit card payments, also consider giving customers the option to pay via their mobile wallets, QR codes, and reward points. Providing customers with multiple payment methods can increase your revenue.
Do e-commerce shoppers require yet another username and password to remember? Not really. Forcing people to sign up for an account can feel intrusive for first-time customers. Signing up for an account can deter customers from shopping online especially since they are not required to do the same at a physical store. Another disadvantage is that it prolongs the payment process by adding more fields for customers to fill up. To make it easier for potential customers to buy online, allow them to check out as a guest.
The idea is to get more people to shop on your website, so it makes little sense to send them to a third-party website to make the payment. Streamline checkout for customers and avoid redirects. Since you have no control over the design of the checkout page of the third-party website, customers may feel they are paying money to a business other than the one they are buying from, which may erode trust. Also, since checkout and payment is the last step of the buying process, seeing your brand name at the final stage will create recall value in the customer’s mind.
Nothing causes a potential customer to abandon their cart and leave your website than having to fill in information that’s irrelevant to the purchase. Limit the information to only what’s essential to the payment process. Naturally, customers will want a payment process that saves time and is convenient for making purchases. If you do ask for additional information other than payment details (such as a phone number), explain why it is needed.
Given the rising number of online scams and cybercrimes, it is essential to reassure customers about the safety and security of their personal data. One way to build trust is by creating a consistent design and avoid redirects to third-party sites. Showcase the security measures you have in place. Have a Secure Sockets Layer (SSL) certificate for your website to provide a secure connection and encrypt credit card information. A PCI-compliant website enhances the security of cardholders’ data. Make sure you display these security credentials prominently on your website.
Guide the customer throughout their purchase by providing a clear call to action. Don’t leave them guessing about what to do next. Avoid ambiguity and be specific by using precise words like ‘Continue shopping’ or ‘Continue to checkout’.
Making payments digitally has become a standard business practice in these times. Therefore, formulating an online payment portal and a checkout page that caters to your partners’ and customers’ preferences is imperative. It can help your business grow considerably.
This Article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. and its employees. We make no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article does not constitute legal advice. Kotak Mahindra Bank, its employees and the contributors are not responsible or liable for any damage or loss resulting from reliance on or use of any information contained herein.
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