Top 3 Payment-Related Reasons for Abandoned Carts

One of the biggest challenges faced by e-commerce businesses is the issue of abandoned carts. Potential customers who take time to browse through your offerings, add them to their carts and then simply leave their shopping when it comes to the final stage. In order to ensure that your business enjoys a healthy conversion rate, it is important to pay proper attention to the issue of abandoned carts. The abandonment of the cart can happen at any stage of online shopping; therefore, it is important to look into the reasons so as to take proper corrective actions:

1. Tedious Checkout Process: Complicated checkout process is one of the most prominent reasons why customers leave their carts behind. If your checkout process involves filling out a number of forms, adding payment details and such other issues then it is highly likely that the customers will prefer to just abandon the entire process and go elsewhere. You can solve some of these issues by adapting policies such as allowing guest checkouts. This option lets the customers proceed with their purchases without actually enrolling with the websites. When their transaction culminates smoothly, it is highly likely that such customers will come back and register with your website eventually.
2. Unexpected Costs: If you have hidden costs which are revealed at the checkout stage, then your customers are likely to leave without completing the transaction. Such hidden costs may be in the form of taxes or shipping charges. In order to increase the chances of actual purchase made, it is important that you are upfront about the all the costs involved. By incorporating transparency, you gain customer trust which eventually translates to better revenue for you. You may also devise various cost structures which enable you to offer ‘free shipping’ without hurting your margins. Taxes may also be bundled into the product prices so as to reduce the chances of unpleasant surprises at a later stage.
3. Payment Issues: Payment related issues may manifest themselves in a variety of ways. First off, it is important that you offer a wide range of payment options. Some of the most prominent options are the ability to pay through debit cards, credit cards and internet banking. However, adding a couple of more options will greatly enhance the probability of the purchases reaching their final destination. Another major concern is regarding the security of the payment process. Since clients are required to provide sensitive information for making payments, it is important that they are assured of full security of such information. There are several certifications which prove that your website is secure. Having such authentication on your website increases your customer’s confidence and induces them to complete the process.
4. Dubious Upselling Techniques: While it is desirable to provide an extra nudge to the client for increasing their order value or to induce them to add more products to their cart, aggressive upselling techniques may dissuade such clients. Some of the ways such intrusive techniques are used are through the pop-up ads or other such material. Instead of being helpful, such experiences may interrupt the purchase process, leading to the client abandoning their purchase. It is advisable that you do not use such measures and offer a smooth checkout process to your clients.
5. Buggy Website: If your checkout process involves different pages and your website is slow to download then the client may feel frustrated through this experience. For solving this issue, you may want to consolidate your checkout process so that the clients do not have to wait for multiple pages to download. Further, the pages should also be optimized in such a manner that they are loaded quickly and do not lag. Slow processing may also impede checkout and payment process, prompting clients to walk away.

While getting the clients to your website is a difficult task, stimulating them to complete the purchase process is even more of a challenge. However, by carrying out a few simple tasks as listed above, you can ensure that your clients do not have to face undue hassle and that they eventually complete the process, adding to your top line. These steps will also help you in generating repeat sales.