To define the most effective checkout conversion tips, we’ve conducted extensive research in user experience. The following actions can come in handy especially since online cart abandonment rates are at a staggering 69% globally. Overcoming obstacles in the conversion funnel - especially at the payment stage - is crucial for online merchants if they want to maximise their potential revenue.
In the past few years, innovation, speed and agility have increasingly become the watchwords for merchants. During this time they have seen consumers’ purchasing behaviour change as the lines between in-store, online and mobile shopping have blurred. And at the same time they have gone through their own digital transformation, upgrading the front office to enable these new customer experiences and also updating the back office, to manage inventory, accounting and other business services on a daily basis.
While the QR code was invented more than 25 years ago, it is only recently that it has become more and more present in our daily lives. In its early days, it was just a tool for Japanese car manufacturers to track their inventory around their factories. From now on, it is everywhere, from the ticket office to advertising and soon also in our wallets.
On 11th March 2020, the World Health Organization (WHO) declared the COVID-19 outbreak a pandemic. At the time of writing, hundreds of thousands of lives and businesses have been affected. With multiple countries issuing bans on travel across borders and ordering shutdowns of cities and towns, many businesses are seeing the virus take its toll.
It’s now a cliché to say that payment options have evolved enormously over the past decade. Industry commentators have tirelessly traced the rapid and widespread adoption of contactless and digital payments, as well as the growing popularity of hybrid online and in store retail experiences like buy online and pick-up in store.
Payment Card Industry (PCI) requirements are a minefield of acronyms and, for many merchants, it can be difficult to understand exactly what they need to do to ensure they are compliant. In brief, the PCI standards are a set of security compliance frameworks that merchants must maintain in order to take physical and/or digital card payments either in store, online or on their mobile. Without PCI compliance, merchants will not be able to work with an acquirer and may also be fined by the card schemes such as Visa or Mastercard.