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Create a seamless, simple and intuitive payment experience

8 July 2016
Discover UX best practices to boost payment conversion and future-proof your checkout experience.
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Seamless, simple, intuitive

Your users expect all of this while paying today. Expectations are rising and keeping up with trends can be complex when payments are involved. So where are we today and what can you do to prepare for the future?

Elevate your conversion

There are some key things to look out for when improving your payment process that boost conversion and drive increased acceptance. However, these change between billing models.

The near and far future

Invisible payments might become the new normal, but what else is coming? Maybe the secret to invisible, frictionless payments is a change in the way we think of and verify identity in online payments.

Worldpay offers insight into future trends

Digital payment methods are constantly changing. Worldpay can help you stay ahead and keep your customers satisfied.

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Consumer expectations today are higher than ever. Reducing user churn before and after the payment process can result in improvements to your revenue.

Just a 5% increase in user retention can increase revenue by 25%.

Increased25%Revenue

Providing simple processes foster loyalty and trust - investing a user in your service rather than frustrating them.

Why people abandon a purchase.

Having to remember a user name and password34%Additional costs that appear at checkout24%Pop up windows that elongate the process26%

It’s not just users who demand this simplicity. Companies want their payment process to be as short as possible as well.

% of companies are at or working towards 1-2 steps in their payment process

45%45%

Subscriptions can be seen as a short cut to simple payments with users entering their payment details only once. However, keeping control of your payment pages is important to ensure it’s as simple as possible.

Companies could see a reduction in checkout dropouts of 5% by keeping control of their payment pages.

5%

For one-off payments, tokenization is the simplest way to let repeat users pay even quicker by storing their payment details without an increase in PCI compliance.

Integrating tokenization can reduce your PCI requirements by up to 25%

Reduced25%PCI Requirements

You might think a completely invisible payment is ideal, but this can raise important questions for customers around security and transparency. A happy medium is needed.

82% of people are concerned about the concept of invisible payments globally.

82%82%

What we think of as identity is changing and in some ways your digital footprint is as unique as your physical one. Could improved identity help usher in invisible payments?

70% of people who purchase digital goods value and are protective of their online identity.

Protective of their70%Online identity

Trust in you and the service you provide is key. It can even lead to more data from your users.

45% of users would want to share personal information in exchange for additional content & services.

45%45%

If we take an even further leap into the future, could blockchain technology be leveraged for identity?

By decentralizing identity verification fraud could become a much smaller risk than it is today. In what shape this could arrive, however, is currently unknown.

Elevate your user retention through account updater & intelligent processing leading to increases in revenue.

Minimize risk through our RiskGuardian tool and our recent investment into social identity company, Veridu.