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1. Is my payments process creating friction for my customers? <\/h2>\n
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Put yourself in the shoes of your customer for a moment. You\u2019ve received a beautiful marketing email about an exciting show. You click on the offer. You pick the perfect seats. You go to checkout and then, when it comes time to pay, something goes wrong so your transaction won’t complete.<\/p>\n
Now, instead of asking yourself ‚Do I want to go see this show?‘ You\u2019re asking yourself, ‚Is this show worth the hassle of figuring this mess out?‘ Naturally, for many people, the answer is going to be a ’no‘.<\/p>\n
The more friction you have in your payments process, the more opportunities there are for customers to change their mind. <\/p>\n
How can you spot friction? Red flags could include: <\/p>\n
- \n
- Frequent reports of card failures<\/li>\n
- Big gaps between engagement with your website and actual sales made <\/li>\n
- Excessive staff time spent troubleshooting issues for customers<\/li>\n<\/ul>\n
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Think about choosing the right payment provider as an investment in your conversions. The smoother your checkouts go and the more authorisations your payment processor completes, the more revenue is flowing into your organisation. <\/p>\n
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2. Am I paying hidden or surprise fees?<\/h2>\n
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Unexpected \u201cjunk fees\u201d from your payments solution add up fast. <\/p>\n
Really take a look at the billing from your payments solution. Is the fee structure complicated, obscure, or downright sneaky? Are junk fees costing you significant chunks of money you haven\u2019t accounted for? <\/p>\n
Be wary of extra charges for:<\/p>\n
- \n
- Refunds<\/li>\n
- Declined transactions<\/li>\n
- Reporting fees<\/li>\n
- Batch fees<\/li>\n
- Terminal or gateway fees<\/li>\n
- Card not present fees<\/li>\n
- PCI fees<\/li>\n
- Underwriting fees<\/li>\n
- Additional risk fees<\/li>\n
- Storing card information \u2013 or updating your stored card information<\/li>\n
- Any \u201cmiscellaneous\u201d fees your provider can\u2019t explain\n<\/li>\n<\/ul>\n
Transparency<\/span>, consistency<\/span>, and simplicity <\/span>make a difference for your bottom line. <\/p>\n
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3. Can I accept the payment methods my customers want to use?<\/h2>\n
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\u201cCan you take Apple Pay?\u201d If you find yourself saying ’no‘ to that question again and again, it might be time to turn that answer into a ‚yes‘. Modern customers are coming to expect Apple Pay and Google Pay<\/span><\/a> to be available everywhere they go. <\/p>\n
And there\u2019s more. Let\u2019s go back to that first example. You\u2019re exciteed about a new show, you\u2019ve selected your seats, you go to checkout and\u2026 oh, you need to enter credit card information. So, now you have to go find your credit card, which is in your wallet, which is in your bag, which is on the coat rack \u2013 and maybe you\u2019re in the other room or perhaps you even left home with just your phone. So, you tell yourself you\u2019ll do it later \u2013 but will you?<\/p>\n
There\u2019s that friction again. <\/p>\n
That\u2019s one reason why mobile payment methods are such a game-changer for audience members and organisations alike. When paying online, all you have to do is select ‚Apple Pay‘ or ‚Google Pay‘ as your payment method and the payment is authorised in seconds \u2013 no need to memorise or find card information. Or, if paying in person, all it takes is a quick phone tap on the payment terminal and you\u2019re good to go. <\/p>\n
We\u2019ll say it again: quick, easy payments mean happy customers and happy sales figures.<\/p>\n
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4. Does my payments solution make it simple for memberships to renew?<\/h2>\n
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