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Top UX Stats of 2019

Category: Growth Hacks

Top UX Stats of 2019
Mohab Growth Hacks 0

Whether you are looking to launch a new website, or you are simply curious as to the latest UX trends for 2019, this interesting infographic 15 Website & UX Statistics of 2019 is a must-read.

One of the standout stats that might help you to formulate design ideas is that 59% of people prefer a beautifully designed website. In other words, you can spend as much time curating useful and valuable content, develop a great navigation format, have super-fast loading but if it doesn’t look pretty, you’ve lost nearly 60% of your target audience. Lots of different factors play into what is perceived to be beautiful but it helps if you don’t dabble with unusual colours and fonts, or use poor quality images.

When it comes to UX, slow loading images are a real killer. In fact, they can cause 39% of users to abandon the website, so avoid using slow loading images at all costs. No image is in some cases much better than a slow-loading image.

Another intriguing stat shows that 2 out of 3 minutes spent online are via mobile. So it would obviously make a lot of sense if you were to ensure that your website is set up to handle mobile users well, giving them easy navigation options and easy-to-read text.

One more stat to keep in mind is that video content is 53% more likely to reach the first page in Google, so creating good quality video content for your website is a definite consideration to take into account if you are looking to drive more traffic to your website. The popularity of video content is only going to grow over the next few years, so now really is the time to get started with creating video content for your website.

Top UX Stats of 2019

Top UX Stats of 2019

About the author

Kerry is an experienced content writer, with a First Class Hons Degree in Multimedia Journalism. She currently works for UK Web Host Review, providing content on SEO, web hosting, web performance, UX, web security, web design, and much more

6 years ago
How Millennials are revolutionizing the Digital Banking & Payments Scenario
Mohab Growth Hacks 0

How Millennials are revolutionizing the Digital Banking & Payments Scenario

According to a recent study, 86 percent of the millennials aged 18-34 years say that they are “Mobile Money Users”, meaning they use digital banking and payments solutions on their smartphones. The millennials were the first to get introduced to gadgets and electronic products. And this is one of the reasons why they are more comfortable using digital payment solutions on their gadgets.

Let us discover the aspects that drive millennials to use digital banking and payment solutions. We will also look at the ways they are using these payment solutions in their daily life.

Millennials are Exploring New Options

Digital banking service providers are promoting cashless transactions in order to save recurring expenses and to grow their customer base. The millennials seem to be most interested in the options offered by payment solution providers. The use of hard cash is diminishing day by day and digital banking & payments are on a consistent rise.

Credit card, debit card, and net banking payment solutions are widely accepted around the world. Not only millennials but other generations are equally proficient in using these payment modes. But when it comes to evolving online payment platforms, millennials are the first one to register their presence.

Let’s take a look at the peer-to-peer lending services. Whether you are booking tickets for a concert or dining out at a vegan café; you can use the peer-to-peer lending app to split the bill. This is an excellent choice for all those who go out in groups. Nobody shares the burden of paying bills as everyone can contribute their share. And as millennials tend to go out in groups frequently, they are the ones who are enthusiastically using and promoting these payment sharing services.

Microfinance companies have initiated collateral-free loans. Yet again, millennials are at the forefront to avail these services. The complete process takes place online, from submitting documents to verification to setting up automatic EMIs.

Besides these, unified payment interface (UPI) facility links your mobile number with your bank account, allowing for hassle-free payments without entering user credentials. Similarly, contactless cards working on the principle of near-field communication (NFC) are a rage these days. And undoubtedly, millennials are the ones who are vigorously adopting these digital payment solutions.

Digital Solutions Because…

There are various reasons to opt for digital banking and payment solutions. For millennials, the following factors prompt them to opt for digital solutions:

  • Real-time – You don’t need to wait for hours, or even minutes, to complete a digital transaction. Everything happens in real time, whether it’s splitting money amongst friends or subscribing to a recurring OTT subscription.
  • Secure – Financial transactions must happen over secure online payment systems because financial fraud is a common phenomenon. And millennials, like everyone else, opt for digital banking solutions that integrate robust security measures such as PCI-DSS compliance, 2FA, 256-bit AES encryption, and so on.
  • Convenience – You don’t need to step into the bank premise, sign up checks, count the cash, etc; there are countless ways of conveniently transacting with digital banking solutions. And as time is the most important asset for everyone, including millennials, you can save a lot of it by using digital payment solutions.
  • Personalization – As millennials are tech savvy, they are more inclined towards personalizing preferences on digital banking apps and systems. So whether it’s opting for subscriptions, managing contact list, or browsing offers; these apps have features that millennials simply love.
  • Environment-friendly – Digital banking solutions eliminate the need to use paper and don’t require you to commute to and fro. These are progressive steps that aim at reducing carbon footprint. The millennials are quite conscious about the need to keep the environment clean and prefer eco-friendly solutions.

Final Words

Millennials are surely harbingers of change in the digital banking and payments landscape. While the previous generation is learning from millennials to adapt to digital solutions, the future generations will surely take these to the next level.

6 years ago
How to ensure fraud and chargeback prevention
Mohab Growth Hacks 0

How to ensure fraud and chargeback prevention

Fraud and chargeback claims can malign your reputation, eventually resulting in loss in your business. In order for merchants to safeguard themselves against fraud and chargeback, it is recommended that they either choose a reliable and secure online payment platform available in the market or hire professionals to handle cases of chargeback and fraud within the company. Before we discuss the strategies for fraud and chargeback prevention, let us look at the definition of chargeback.

What is a chargeback?

Chargeback refers to an appeal made by a cardholder/consumer against fraud committed by a merchant. The appeal is made to the issuing bank. The bank deducts said amount from the merchant until the merchant is able to collect enough evidence to prove his/her case, in which case the money is returned. In some cases, the cardholder may issue a second chargeback known as pre-arbitration. This occurs when a consumer is determined to prove that he/she has been a victim of fraud at the hand of the merchant.

Let us discuss certain principles and restrictions that a merchant should look into in order to prevent fraud and chargeback.

Restriction on the number of payment attempts

Most online transactions happen through an online payment gateway. One way to minimize the risk of chargebacks is to impose a restriction on the number of times a cardholder can attempt to make a payment. Additionally, the number of purchases made through one card in a day can also be restricted. This simple principle can help you reduce the risk of chargebacks and even prevent the problem from occurring altogether.

Restrictions with regard to email

It is often found that people who come with an intention of committing fraud use multiple email addresses to make purchases using the same card. A merchant must monitor the cards that are linked to multiple email addresses. This may seem like a rather simple way of dealing with it, but it can be a highly preventative measure. It is always better to catch them before the crime occurs.

Monitoring IP addresses

Technology now makes it possible to monitor IP addresses. This can work in favor of the merchant since they can monitor the addresses and find out the e-commerce history and reputation of a particular buyer. There are multiple restrictions that a merchant can apply, such as blacklisting a particular IP address.

Customer service

Credit card companies often offer chargeback notification as a service. This means that any time a cardholder raises a dispute, the merchant is informed simultaneously. By making use of this service and providing good customer support, it is oftentimes easy to address the customer’s issues. Prompt action in such cases can help prevent chargebacks and build better customer relations for the future.

Maintaining and updating records

It is always a good idea to maintain complete and up-to-date records of all transactions made by a cardholder. These records should include dates of purchase, the amounts paid as well as authorization information. These records can be very helpful while handling and fighting chargeback disputes.

Proper training of employees

Employees should be trained on how to handle card and non-card transactions. By enlightening them on the subject, the merchant can save himself/herself from fraud altogether. Verifying signatures, requiring complete card information, etc. are just some ways that fraud can be prevented. As the popular adage goes ‘prevention is better than cure’; it would save the merchant a lot in chargeback fee if the fraud was to be prevented altogether.

Choose your battles

The merchant is charged a certain fee when a chargeback is asked for. An additional fee is imposed if the merchant decides to dispute it. Too many chargebacks also damage the merchant’s relationship with the account provider. Therefore, it is wise for the merchant to choose to dispute only the chargebacks that he/she is likely to win.

The above-mentioned steps may seem like too much for a merchant to take on by themselves. It is advisable, in such a case, to hire a chargeback management firm to deal with the issue of fraud and chargebacks, and adopt these effective strategies to safeguard your business.

6 years ago
Follow these 5 Simple Steps for Product Pricing
Mohab Growth Hacks 0

Follow these 5 Simple Steps for Product Pricing

Do you know that 61 percent of online buyers say that extra high costs is the main reason for cart abandonment? This clearly indicates that if product pricing is not accurate, you may lose more than half of the sales.

The product pricing mechanism lays emphasis on the cost price, profit, taxes, product value, and other variables. This means you have to consider various factors while determining the perfect product price. To assist you, we have compiled a list of five simple steps of pricing a product. Let us guide you through these.

What’s the Pricing Objective?

One of the foremost considerations in product pricing strategy is determining the company’s objective. You have to decide what you wish to achieve and where you see the company in the near future. When you are clear about your objectives, you get clarity about the product pricing.

For example, if you are in the nascent stage and you are entering a market, you can adopt survival pricing strategy wherein you are focused on establishing your presence and covering your expenses. Profit is not your foremost consideration. There are other objectives that influence the product price:

  • Maximum market share
  • Maximum market skimming
  • Product quality leadership

Demand-Price Relationship

While identifying the right market price of a product, it is crucial to study the demand curve. Often, there is an inverse relationship between the price and the demand. If the price is higher, the demand will be low, and vice-versa. However, this is not true in all the cases. We mentioned product quality leadership in the previous section. The demand and price both could be high if you are a leader in the segment in question.

Nevertheless, you can conduct surveys, initiate a project pilot, or perform a statistical analysis to determine the demand in the market.

Cost Estimation

Evidently, costs and target returns influence the price of the product. There are various fixed and variable costs associated with the product. To determine these costs, you can adopt activity-based costing (ABC) system to identify the exact cost based on all the activities, right from procuring raw materials to delivering the products to the retailer.

Also, if you prefer taking payments online, the customer can pay via multiple payment modes like credit or debit card, net banking, digital wallets, and so on. You can install a payment gateway to process these payments. The important thing to note is that the customer might incur payment processing charges, and you don’t have to include these while pricing your products.

Finalize a Pricing Method

The company’s objective influences the product price and the pricing method decides the pricing structure. And up to a certain extent, the pricing method is also dependent on the company’s objectives. Let us look at the pricing methods:

  • Markup pricing – The product price is determined after adding a profit percentage on the cost price.
  • Value-based pricing – The product price is influenced according to its value for the customers.
  • Target return pricing – The pricing is influenced by the target ROI.
  • Going rate pricing – You price the product as per the standard pricing of similar products.

Peek into Competitors’ Pricing Policy

Competition is almost everywhere. In some cases, you may face little or no competition. Here you can set the price as per your discretion after analyzing demand and customers’ willingness to pay. But if you operate in a niche having stiff competition, you must scrutinize your competitors’ objectives and pricing policy. This will allow you to customize your market offering in a way to gain an edge over your competitors.

The Bottom Line

With the right product price, you can grab a larger portion of the market share. But in addition to the price, you must create value for the customers, adopt innovative marketing strategies, and keep an eye on the market trends to remain a step ahead of your competitors.

6 years ago
PayTabs Payment Gateway Option for Egypt
Mohab Growth Hacks 0

PayTabs Payment Gateway Option for Egypt

By the end of 2019, there will be 50.7 million internet users in Egypt. With the rise in internet penetration, users will spend more time browsing social media, learning courses and skills, and shopping online. Evidently, digital payment will also witness a tremendous boost. PayTabs is working relentlessly to be a contributor in the digital payment revolution in Egypt.

If you are planning to integrate a payment gateway into your online store, mobile shopping app, or any other venture, look no further than PayTabs – a payment gateway facilitating smart and convenient online payment solutions. Why PayTabs deserves your attention? Read on to know more.

Smart Payment Options

The era of online transactions began with credit and debit card payments. The times have changed and now, there are numerous payment methods available for making an online transaction. By the end of 2018, alternative payment methods (APMs) will constitute 59 percent of all the online transactions. The popular payment methods include digital wallets, online banking, peer-to-peer transactions, gift vouchers, EMI payments, POS payments, and a few others.

PayTabs understands the importance of APMs. Therefore, it offers various alternative payment options in Egypt – such as Visa, MasterCard, SADAD, AliPay, WeChat Pay, UnionPay, and others. Besides these APMs, PayTabs allows merchants to transact in multiple currencies. You can indulge in the export and import of products and services without worrying about online transactions.

PayTabs facilitates payment collection within 24 hours via different modes of payment. There is a provision for generating invoices and sending these to your customers. Whether you have a website or not, online invoicing is available for taking payments online. If your business revolves around subscription-based services, use PayTabs to collect recurring payments.

The Smart Dashboard assists in analyzing sales performance. You can check out completed transactions, pending transactions, and failed transactions. Identify the most popular payment methods. This will allow you to strategize for a higher conversion rate.

Seamless Integration

Payment gateway integration is a deciding factor when it comes to selecting an online payment processor. Whether you own a website, a mobile app, or a brick-and-mortar store in Egypt; a payment gateway should integrate and perform seamlessly. PayTabs is compatible with e-commerce websites such as Shopify, Magento, PrestaShop, WooCommerce, CS.cart, OpenCart, and others. There are dedicated e-commerce plugins that integrate with these e-commerce platforms. You just have to customize it according to your requirements.

And if you have developed your own website using any other script or platform, you can use PayTabs APIs (Application Programming Interfaces). These APIs integrate with the website without any hassles. Similarly, there are PayTabs SDKs (Software Development Kits) that integrate with mobile apps. There are dedicated iOS and Android SDKs for mobile apps available on both iOS and Android.

PayTabs takes care of customer experience as well. The iFrame on-page checkout feature prevents any redirects and allows customers to pay then and there. This saves time and ensures a seamless user experience. To increase conversion rate and prevent cart abandonment, it is highly recommended to integrate PayTabs Express Checkout window in your e-com website. While customers browse your online store, the checkout window keeps hovering on the screen, providing quick access when it’s time to check out.

Robust Security & Support

Confidentiality, privacy, and security are inevitable aspects of payment gateways. PayTabs is one of the online payment processors that deploy the latest and most effective security protocols to maintain confidentiality, privacy, and security of individuals transacting on an online store.

The majority of the online transactions are secured with 3D Secure Authentication to prevent any financial frauds. In addition to these, Dual Layer Fraud Protection & Management further strengthens security aspects. PayTabs adheres to the international security protocols. It complies with PCI-DSS norms and deploys DigiCert EV SSL certification for the stringent encrypted environment.

PayTabs – The Best Payment Gateway in Egypt

As the residents of Egypt are showing an interest in online transactions, it is the right time to integrate a payment gateway into your website. With its many payment features, ease of integration, seamless compatibility, and compliance with security protocols, PayTabs enables merchants to reap maximum benefits from their online business.

6 years ago