How to meet your customers’ desire for greater payments choice
Customers are demanding a wider range of payment options. How can enterprises offer an optimal payment mix for all their markets without increasing operational cost and complexity?
It is important to meet customers’ expectations at the critical, closing stage of a transaction.
Consider these facts:
- 1 in 3 shoppers say they would abandon their cart if their primary payment method wasn’t available.1
- 1 in 6 have abandoned checkout because the process was too long or complicated.2
- 51% of businesses say the complexity of managing multiple payment solutions/partners is a serious challenge.3
But adding every payment option available is not the answer either. You may confuse your customers and add further cost and complexity to your business.
The answer is to offer a payments mix that is best suited to your customers’ needs and your business.
Our new guide on building a payments mix shares how you, can create the optimal mix suited for your enterprise. The guide includes information on how payment preferences vary by country, by age group and by business. And it also includes specific advice for some important business sectors.
1 FIS Worldpay (2021), Shopping Trends Every Retailer Needs to Know, https://www.fisglobal.com/en-gb/insights/merchant-solutions-worldpay/article/does-your-brand-meet-customers-omnichannel-expectations
2 Baymard Institute (2022), Reasons for Abandonments During Checkout, https://baymard.com/lists/cart-abandonment-rate#why-users-abandon-their-cart. Accessed 24th March 2022
3 FIS Worldpay (2021), Global Payment Risk Mitigation, https://offers.worldpayglobal.com/global-payment-risk.html
We’ll use cookies to improve and customize your experience if you continue to browse. Is it OK if we also use cookies to show you personalized ads? Learn more and manage your cookies