How to Improve Payment Processing User Experience

As the world embraces a digital future, user experience remains the make-or-break moment for online payments. 

A poorly designed payment process is frustrating for the customer and can cause a big headache when completing the payment process. 

Result? 

You miss out on sales no matter how good a deal or the product/ service is. 

As data says, 88% of online consumers are less likely to return to a site after a bad user experience. 

On the flip side, a well-crafted payment processing system builds customer trust. 

This not only helps to close the transaction but increases your repeat sales.

As data says, companies see $100 ROI per $1 investment in user experience.

In this article, we’ll see how to improve user experience in payment processing. 

But before that, here is a quick recap to understand why you should be concerned about the payment processing user experience. 

Why is a good payment processing user experience important? 

A good payment processing user experience not just delights a customer but also sets the foundation for customer loyalty. 

As a result, you will see a boost in your repeat sales. 

Additionally, satisfied customers will always talk about their experience with acquaintances. 

And, any brand will admit that word-of-mouth marketing is the best marketing option any day.

Clarity and transparency

 A well-designed payment processing system instills trust through transparency. 

Offering clarity in payment processing means customers are aware of all the payment options available so that they can choose their preferred payment option. 

Additionally, maintaining transparency gives them a clear picture of the total cost of the product/service, taxes, delivery cost ( if any), or any other additional cost. 

Ensure that all the payment-related information is presented in a clear and straightforward manner. 

Convenience and speed

Today, customers are tech-savvy and prefer speed and convenience. 

Having a payment processing system that’s quick and convenient boosts the overall customer experience. 

On the other hand, a slow and floppy payment processing system turns off the customer and drives them away. 

Security

While digital payment is convenient and faster, it also comes with security concerns. 

Customers want to feel confident that the transaction process is genuine and that their sensitive personal data is handled carefully. 

Designing a payment process with PCI-level compliance is a must for businesses that ensure the highest customer security standards. 

Responsiveness

Customers value payment processing systems that demonstrate responsiveness. 

Sites that quickly resolve payment issues, disputed transactions, and 24/7 support are always preferred over transaction systems that are slow and unresponsive. 

Mobile optimization

Mobile transactions are extremely popular in the UAE.

As a survey suggests, 94% of the customers in the UAE used at least one digital feature during their last purchase.

The same survey suggests that 43% of the users suggested that an easy checkout experience is one of the reasons for online shopping. 

So, focus on mobile optimization and responsive UX designs that offer mobile users the same convenience and efficiency as desktop users.

Now, let’s understand how you can improve the payment processing experience. 

Ways to improve payment processing experience 

While each business is different and their needs vary, here are a few ways many businesses have improved their payment processing experience, and you can do too. 

Simplifying the Checkout Process

A simplified checkout process helps customers complete the transaction and creates a better customer experience. 

Customers who have a positive experience during the checkout process are more likely to return for future purchases. 

Here are a few things that you can do to streamline the checkout process.

• Minimize the number of steps by offering guest checkout.
• Filling out unnecessary details like birthdays and anniversaries is time-consuming and often quickly turns buyers off. Instead, gather only the necessary data that are compulsory to complete the payment.
• Provide clear instructions for each step so there’s no confusion.
• Use trust signals like a secure payment logo.
• Offer one-click payments for quick transactions.
• Keep the checkout process to a single page. Scrolling from page to page can distract a customer, causing a loss in sales. Further, it will also factor in if there are any internet issues. 

Optimizing for Mobile

Optimize your payment processing system for mobile users. A few things to consider:

• Pay attention to responsive design that can adapt to any screen size.
• Offer in-app payments by integrating the payment gateway into the app for a quicker payment experience instead of directing the customer to the website payment page, which may disrupt the payment flow.
• One of the biggest inconveniences for buyers is signing up and providing login details before they can checkout. So, keep that in mind. 
• Look for a payment gateway that offers QR code payment, mobile wallets, or displays the bank account details where you can asynchronously process the payment without logging in.

Enhancing Payment Security

Consumers need to be comfortable doing a transaction on your website. 

For this, they must ensure that your payment processing system is secure. Things that you can do:

• You must comply with PCI DSS regulations. If you adhere to this guideline, convey this information to the consumer. That way, they’ll be assured that your system protects credit/debit card details by utilizing tokenization and multifactor authentication. 

• Display the PCI DSS logo on your checkout page to show customers you care about their data safety. 

Offering Multiple Payment Options

Choose payment gateways that allow users to choose from diverse payment modes. 

• While multiple payment modes are available to integrate into your website, some popular methods include credit/debit cards, mobile wallets, UPI payments, etc. 

• Solutions like PayBy can enable cashless transactions and online payments via various international and domestic credit cards, debit cards, and over 1.5 billion wallets.

• It easily integrates with your existing website, so you can host the payment page and customize it according to your needs. 

Improving Payment Gateway Speed

The speed and efficiency of the payment gateway can be a game-changer for your business. 

Here are some ways to improve the payment gateway speed:

• Streamline the checkout process with minimal steps. 
• Partner with a third-party payment processing platform that can handle multiple transactions at once. 

Providing Clear Error Messages 

After completing each transaction, send a clear communication to the customer so that they know their payment has gone through.

But if there is a transaction failure, ensure to communicate it as well. 

Few things to consider:

• If there’s an error from the issuing bank, have the customer check the card details. If the problem persists, have the customer contact the issuing bank. 
• Meanwhile, you can prompt the customer to use another payment option to complete the transaction.
• If there are technical issues with the payment gateway, inform the customer immediately with a clear message, along with the details of the transaction if it has already been initiated. For example, your message may read, “Any deducted funds will be credited back to the original source in 48 hours.” 

Personalizing the Payment Experience 

Personalization is a clear winner in today’s hyper-competitive market. 

So why not bring it into your payment processing system to WOW your customers? 

Here are a few things to consider:

• Make your customers feel valued by showing them their preferred payment options.
• Use localization and customization features to offer your payment process in different regional languages, currencies, and markets. 
• Combine each transaction with a loyalty or reward program to recognize repeat customers while up-selling and cross-selling your products. 
• Once the transaction is completed, direct your customers to a thank you page to offer your gratitude. 

Continually measure and improve 

Once you have implemented the payment processing system successfully, remember to measure and track its performance continually. 

Tons of data are produced whenever a purchase is made—for example, the products purchased, when the product was sold, what payment method was used, and so on. 

Analyzing this information through a payment analytics lens can help you make a lot of data-driven decisions.

For example, whether your existing payment processing system is working or needs improvement, whether your customer is new or repeat, what their purchasing habits are, whether you need to expand on certain product offerings, and so on.

Some of the metrics that you can measure:

• Payment types and methods to understand customer preferences.
• Chargeback rates so that you can reduce any unnecessary chargeback rates and improve customer experience.
• Transaction volume and velocity to understand your peak sales time.
• Transaction amounts and values to understand how much people are spending and how you can improve that.

Time to improve your payment processing user experience

If you’re ready to improve your payment processing user experience, it’s time to partner with a payment solution that builds solutions with user-first intent and does not compromise on business needs. 

Payby enables business growth with cashless payments so that you can increase your revenue while prioritizing customer experience. 

Payby offers complete online payment solutions for businesses across all industries. 

Solutions range from payment gateways and QR code payments to virtual accounts, mobile wallets, recurring payments, and more. 

Ready to explore more?

Get started here.