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Mobile Payment Trends for E-commerce websites in 2018

Banking CIO Outlook | Friday, October 12, 2018

In the current times, market big shots are making huge investments in their mobile marketing strategies. According to the leading market research firm Statista, almost 63 percent of e-commerce sales is dependent on mobile marketing in 2018, which is likely to grow to 73 percent by 2021. Companies are making use of mobile commerce in order to improve in customer experience with aid of fast loading designs, mobile-first approaches, along with intuitive interactions with customers in order to gain higher SERPs. In addition, visitors will face fewer complexities during checking out from their order sections. Owners of e-commerce sites also focus on optimizing content and designing the pages accordingly, as well as customizing the settings of their software, while they should concentrate on the checkout pages including the shopping cart.

Here are the four e-commerce best practices for mobile payments in order to stay ahead of the competitive curve:

• Fraud prevention is one of the major ways to secure the interests of the customers. This method effectively helps companies to drive higher productivity without compromising on the quality of products or services, consequently leading to increased conversion rates and improved customer retention. The most important factor is choosing a payment gateway. This is because customers should feel safe while disclosing their card or bank account details online.

•  Customers are more likely to make purchases from a website if the check-out pages do not contain unnecessary steps. De-cluttering the check-out pages include eliminating unwanted navigation links, and banners which distract the customer against fulfilling the check-out process. Developers must focus on minimizing the form sections, simultaneously optimizing the page for mobile interfaces, with relevant touch-friendly fields. In addition, users should be allowed maximum payment options, including all kinds of debit and credit cards along with e-wallets and netbanking.

• Most first-time visitors of a website are reluctant about opening a new account while making purchases. In those cases, websites should have guest check-out options. However, after the customers complete their transactions, they can be informed about the benefits of opening an account on the website.

• FAQs form an important part of websites, especially e-commerce sites. Customers should have the understanding of what order statuses imply and how long the order takes to be shipped and reach them. Apart from this, users should be able to access multiple ways to contact the customer support.

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