There are two things that e-business owners hate, one -abandoned shopping cards and two – people not returning to their business (granted, the two do correlate). Now there may be various factors going exactly into why this is happening, but there is one factor that could be solved with ease: the shopping process. There are various online stores that bombard their potential customers with long check out forms, multistage shopping carts, and incredibly hard to understand commands. It’s more than tiresome when you’re trying to just buy one product and you have to go through what seems like 100 light years worth of pages and boxes to fill out. The more you think about it, the more you realize you’d rather be looking for a different website with what you need than checking out here. This is why one-click payments were created! To make shopping less annoying and more conversion oriented.
What are single-click payments?
In layman’s terms, when a customer is paying for an item all he has to do is click the “single-click buy” button and he is taken to a page where he signs in, once that is out of the way a purchase can be made. There is no card data being filled in and no additional pages to bother and make the customer give up on his order. The technicalities are a little more, well… technical, but that is why payment gateways are these amazing keepers of the e-commerce flow. Let’s take a look at how PayLane works this out, to condense the technicalities here are three steps that can be outlined:
- A customer creates an account where he either fills in all his information right away or when his first order will be made. This very account will also help in verifying what customer is making a transaction.
- The first purchase is made and all card data is filled in. When a customer enters card information, the card is authorized with an acquiring bank by the agency of issuer. This card is saved in PayLane’s and issuer’s systems and the acquiring bank blocks 1 monetary unit (€1, $1 etc.) for a couple of days in order to authorize the card.
- The payment provider keeps information from the card authorization – card number, owner information, card expiration date. In case your customer used multiple cards PCI DSS allows internet shops to keep the first four and last four number card numbers to help in identification of transactions.
All the following purchases will be made with ease because the customers ID will be recalled and therefore he will not have to fill in his information again.
Do customers look for quick buys?
In short: Yes. A study by Susan Kleinman states that when it comes to customer satisfaction, not only is ease of check out important to 83% of customers, it is also the highest ranked on the list of customer satisfaction factors. It makes compulsive shopping easier and doesn’t discourage customers, well simply because they don’t even have time to get annoyed! Amazon, eBay, and other websites became prime examples of how great single click buying really is. Amazon as the creator of this wonder, even tried to patent it! Because this feature is so popular, Google has decided to take it a step further with Instant Pay.
Single-click payments in my store
Since this magnificent feature offers such marvelous shopping experience, it is more than JUST a feature, it is a MUST in every shop. Your customers will feel like they can quickly and with ease get in and get out. Of course, it is important for them to make an account eventually because the information has to be filled in at least once, but from then on it is a breeze! Some might think that because they won’t have their long forms every single time, they can’t ask for and collect email addresses for email marketing, well worry not! Because your customers will now create an account and you will send them information confirming their order or shipping information, you can use that as an opportunity for a follow up.
If single click payments interest you, check out PayLane’s offer and read not only about single click but other awesome solutions for your business. And As always, hit us up in the comments section below or on Twitter, Facebook, LinkedIn and share your thoughts with us!