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Fewer cart abandonments with an optimised checkout page

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I found the product I wanted and made the decision to buy it – but how can I pay for my purchase? The checkout page in an online shop often determines whether a purchase transaction is actually completed. If no suitable payment method is offered or the checkout process is too complicated, many purchases will be abandoned at this point. To ensure that your customers are satisfied and that they complete their purchase transactions, our partner PayPal has put together an overview of the three most important success factors you should take advantage of.

Trainers, perfume, food – at this point, there’s hardly anything consumers don’t buy online. So it’s no surprise that ecommerce is continuing to grow. But an online shop and a wide range of products to choose from are not nearly enough to ensure success.

An important factor when purchasing from an online shop is the payment methods that are offered. Nearly half of online buyers (43% [1]) want to know which payment methods are offered before they even start shopping. And 38 percent [1] make their decision to purchase depending on the payment methods offered. If you want to keep your cart abandonment rates low, you should consider the following points during the payment process.

1st Success Factor: Offer the most popular payment methods

The most popular payment method for German online shoppers continues to be payment upon receipt of invoice, at 92 percent [2], closely followed by PayPal (86%) [2]. The next most popular methods are direct debit (72%) [2] and credit card (61%) [2]. To improve your chances that purchases will be completed, it is best to offer all four of the most popular payment methods [2]. PayPal provides a simple solution to this matter. With PayPal PLUS, the payment methods PayPal, direct debit, credit card and payment upon receipt of invoice are combined in a comprehensive package. PayPal seller protection also assumes the risk if you receive an unapproved payment or the buyer claims not to have received the ordered items, and protects you against possible payment defaults. Another advantage is that your customers don’t need a PayPal account to pay using the PayPal PLUS payment methods of payment upon receipt of invoice, direct debit or credit card.

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PayPal has become an increasingly popular payment system over the years.

2nd Success Factor: Simpler and faster checkout process

When they have decided on a product after long deliberation, users just want to complete their purchase quickly. A frequent problem that comes between the product and its new owner is the checkout page. Entering various personal data and your address takes a lot of time – particularly on mobile devices, this is not enjoyable. Many potential customers cancel their purchases at this point. To prevent this from happening, you should make the payment process as easy and efficient as possible for your customers. One option is the PayPal Express button. Order information such as credit card data or address details is sent directly by PayPal, so there is no need to enter it again. Your customers will reach checkout in just two clicks, shortening the payment process by up to 80%. Your customers will thank you, and you will enjoy a higher conversion rate.

3rd Success Factor: Communicate payment methods and advantages

Offering various payment methods and the PayPal Express button are important steps towards success. But all your efforts will be in vain if potential customers are not informed of the various options that are available. Integrate the logos for the payment methods you offer directly on your home page and your product pages. For example, PayPal allows retailers to download the PayPal logo as well as banners and text blocks for the individual products free of charge. Retailers can also use text templates for landing pages or social media snippets that help to advertise the payment methods offered.

Bottom line

Most online shoppers make their decision to purchase while they’re still on the shop’s home page: If their preferred payment methods are visibly offered, this increases the chances that a purchase transaction will be completed. The checkout process itself is a decisive factor for online purchases. If consumers are able to complete their purchases more quickly and easily, they are less likely to abandon their cart.

[1]  PayPal Deferred Payment Research 2018 undertaken by PayPal.
[2] ECC-Payment-Studie Vol. 22, Köln, 2018.