Using Payment Methods to Make Customers Return
People often think that providing as many payment methods as possible is good, because customers can choose their favorite one. This should mean that the income will be greater; fewer people get discouraged by the lack of the payment method they prefer. Sounds logical, but it’s actually a minimal plan and there’s no guarantee it will work in every case.
If we try to go beyond the “convince to buy” approach, what is there that we might want to achieve? The first thing that comes in mind is “convince to buy again“. Make your customers become your regular customers. And how is it exactly related to payment methods?
Let’s face it, online payments is a boring business. Hell, I’m guessing some of you have already closed the tab now that you’ve learnt this post will be about it. If you’re still here though, do stay, cause we have something unusual to share with you…
It’s a busy time at PayLane – we’ve just been audited. No, not by the IRS. Our taxes are just fine. Then what does it mean? Last week we were visited by a QSA (Qualified Security Assessor) from an external audit company who, in short, decides whether a financial company is trustworthy or not. He spent a week with us, going through hundreds of document pages, checking our network’s and servers’ safety and interviewing the staff.
So you have a business idea. You’ve heard so much about startups going big, such as Square, Pinterest or Dropbox. At the same time, hundreds, if not thousands of new businesses failed and gave up after a few months. How do we increase our chances of launching a successful startup? By finding the right investor.