What does the Ultimate Payment Transaction Page look like?
Customers and retailers want the same thing from checkouts: they both want a smooth, simple, secure experience.
Online is growing fast, but overall, ecommerce is still only 7.5% of total retail sales figures, as of Q4 2015. Plus, consumers abandon 68.63% of carts, according to the latest data from the Baymard Institute.
For retailers, particularly those in the ecommerce sector, those two figures should spell one thing: a massive untapped opportunity. Online retail is no longer new, but clearly there’s a continued upside to investing in ecommerce, especially if retailers can fix the issue of abandoned carts.
This isn’t mission impossible. A steady stream of research has focused on solving this problem, with the consensus that these seven factors can make or break a payment transaction page:
Payment Transaction Pages: Must Haves
- Required registration. Force a customer to register/create an account, lose a sale. For those just passing through, aiming to make one purchase and leave, this is clearly a deal breaker. Make registration optional. Give everyone the default to shop as a guest.
- Speed. Online, particularly on mobile devices, should be about fast, efficient loading times. Ensure the entire customer journey, from browsing to order confirmation is frictionless when it comes to speed.
- Simple painless forms. No one enjoys filling out forms. Least of all when making a purchase, which is one of the big differences between shopping offline and online. Don’t ask for necessary information and make error messages clear. That goes double for mobile forms: checkouts that take too long lose customers.
- Progress indicators. Customers like to see how close they are to completing a purchase. Not unlike in-flight journey maps: everyone feels better as the destination gets closer.
- Security verification. Make this visible and prominent. A combination of logos, symbols (e.g. a padlock) and text, to explain the level of security (even when most customers won’t understand what this means) is far better than being vague about the systems protecting their personal/payment details.
- No distractions. Great checkouts don’t take customers away from the task of completing a purchase. Links can serve to inform and upsell before and after, but not whilst the progress indicator is moving forward.
- Basket summary. Show customers what they’ve bought, including pricing (and any savings) information.
Here are a few examples of retailers that are making the checkout page awesome for customers.
When online fashion retailer, ASOS, changed this one page – giving web visitors a guest option – they increased revenues $300 million annually.
White goods retailer, AO, uses a simple four-step checkout, reassuring customers throughout. On the final page, they demonstrate Google certification, so you can “buy with confidence”, whilst also annotating parts of the card details section that other retailers neglect to help customers with.
SodaStream, the home-made beverage company, covers all the bases with this checkout: Secure. A clear visual basket summary. One page form, with two more stages – payment and confirmation – are reassuringly secure clear.
And finally, Hunter, the UK-based boots manufacturer provides the same format, with an additional feature many overlook: a customer service number to call. Assuming, for any reason, a customer is having difficulty completing an order; they give them the option to speak to a customer service agent. Sometimes that human contact is needed, especially online.
For more on minimising abandoned shopping baskets see our blog on the subject here: 5 Top Tips For Minimising Abandoned Shopping Carts