Your customers expect maximum convenience — this is the cornerstone of shopping. Especially when it comes to digital commerce.
The thing is, your customers expect that the payment system, which you offerб is flexible, responsive and user-friendly.
They don’t want to make a million taps, leaving your online store to open the banking app, then being redirected to a third-party payment gateway, entering their card details again and again, and so forth.
As the stats show, the more actions a buyer has to execute, the higher will be the risk that they'll abandon the cart eventually. Speedy checkout equals Higher conversion.
This is when the in-app payment solutions come into play. They are capable of making mobile shopping a quick and painless process, offering the following benefits:
Another highly important aspect of a mobile payment system is “recognizing” the customers who have shopped at your place before.
“The thing is, your customers expect that a payment system, which you offer, is flexible, responsive and use-friendly”.
To achieve that, a payment service must be secure enough to store all related data. This, again, involves compliance with the up-to-date security standards. In turn, that guarantees that all further payments will be a one-tap operation.
With the mobile payment solutions, your business can sell any goods, basically. Let’s quickly review which products the merchants can bargain by using the service:
By the way, for the merchants who sell physical goods, the process is slightly different. In this case, your main concern is using a reliable payment gateway.
Here’s what it does:
It’s very important to use a reliable gateway, which also doesn’t redirect your customers to a checkout page. As practice shows, shoppers don’t really fancy when the checkout phase involves extra pages, taps and forms to fill out.
Besides, for the merchants, it’s essential to maintain both, a smooth payment process and the visual integrity of the brand, reinforced with simplicity.
Finally, these services offer a redirect gateway, which isn’t that great:
Among all else, we've mentioned that to guarantee fast and simple mobile payments, your system will need to store some sensitive data. This data typically includes:
Naturally, all this data makes your enterprise an attractive target for the cyber-criminals. Especially when it comes to small businesses — 60% of small online venues are attacked, according to Fundera.
The problem is that the small venues try to optimize their expenses as much as they can. So, they can't afford to hire IT-personnel and pay for complex security to shield their clientele.
Luckily, ready-made solutions can take care of the security. The central success component here are the numerous standards that the payment-processing systems have to be complaint with. (This includes in-app payment systems too).
One of the most employed standards is the PCI DSS certification — The Payment Card Industry Data Security Standard. In simple terms, this standard makes sure that:
Encryption/tokenization algorithms are a failproof method to protect the sensitive data. Even though there's a difference between them.
In essence, they work in a similar way, but:
Apart from PCI certification, payment processors also need to be compliant with such stands as KYC — Know Your Client.
Apart from combating money laundering, this standard helps to protect both your venue and your customers from various types of fraud.
One of the worst issues that businesses of all scales have to deal with are the false chargebacks. They can produce serious damage if undetected, and KYC is one of the tools to do that.
According to Statista, almost 50% of all shopping is done from the screen of a phone or tablet these days.
And, of course, this includes mobile payments. To avoid losing customers, you either need to develop a mobile app. Or adapt your website to look “friendly” for mobile viewers, adding smooth and safe mobile payments.
And this is not a make-do craze. Just look at the stats:
Your business can’t miss this opportunity. Plus, mobile payments can become the dominant force in the future of eCommerce, according to some prognoses.
At Payneteasy we know which digital commerce issues you may face. We know the typical challenges and pitfalls. So, we’ve designed the mobile payment solutions just for you.
Our coverall package includes the best in-app payment solutions:
With our help, you can increase your conversion rate. And avoid abandoned carts.
You can turn shopping into a captivating adventure for your customers. And we can help you with it, by covering every technicality — from payment process to gateway integration.