The Payment Experience and Conversion Rates

Much has been written about how important the payment or “check-out” experience is to conversion rates so in this blog we just want to summarise a few key points. Later on we will touch on why as a merchant you should worry about conversion rates.

Firstly, what does conversion rate mean? Put simply, conversion rate is just the percentage of visitors to your site that convert to being actual customers by making a payment.  Mathematically you calculate your conversion rate as a percentage as follows: 

Number of Visitors / Number of Customers *100 = Conversion Rate %

Why do conversion rates matter to you as a merchant? It’s great having people visit your website, have a look around and maybe place items in a shopping cart but they only become revenue generating when they become a paying customer.

Many articles about improving conversion rates focus on important factors such as re-marketing tools, product copy, quality photography and shipping costs to name just a few. As a payment solution provider, IPGPAY is focused on providing merchants with the tools they need to give their customers the best possible payment experience so that conversion rates are maximised. We do so by providing non-PCI DSS certified merchants with the ability to fully customise and brand our multi-lingual, multi-currency hosted payment as if it were their own. This ability to provide a seamless shopping and brand experience is critical to improving conversion rates.

We have found that particularly in the Asia-Pacific market, the final payment experience is often less than optimal with payment forms lacking consistent branding or liberally covered with the branding of the payment provider. With IPGPAY, merchants can offer their customers the consistent branded shopping experience that is so fundamental not only to providing a great customer experience but also to optimising conversion rates.

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