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.

PayGlobe is an Italian company specialising in solutions for the management of payments and integration of loyalty and CRM through a multi-acquiring system. Ingenico, a Worldline brand, is the largest European player in payment services. Working together, both companies leveraged their payments expertise to support the needs of Mondo Convenienza stores, a leading Italian chain of large-scale distribution of furniture and furnishing accessories.

The most significant shift in the payments industry to evolve from the COVID-19 pandemic has been the sudden fall in the usage of cash. And while the industry as a whole has been aware of the potential for a cashless future for a while, the shift towards contactless and alternative payment methods (APMs), as consumers try to avoid less hygienic payment methods, has got to the point where 50% of customers think that cash will disappear completely at some point in the future.

Many business owners are notoriously pushed for time, often taking on a multitude of tasks and duties. Dependant on size, this can include running the marketing department, organising logistics, and ensuring the best customer service is being delivered, all at the same time. Unsurprisingly, with so many different facets of a company to be managing, payments processing is not always at the forefront of merchants’ minds. But the fact is it should be, as optimising payments is an essential component in many aspects of the business journey and it should not be overlooked.

By optimising payments, you have the power to create a profoundly positive effect on the user experience (UX), transaction conversion, and provide merchants with crucial data to improve their operations. What’s more it can also enable merchants to monitor their costs efficiently, if they work with the most competitive acquirer for each payment method used by consumers.

Ignoring payments optimisation risks not only alienating and losing customers but also inefficient management of their costs by missing important savings on acquiring fees.