Giving customers a remarkable experience when interacting with your business is one of the most critical factors to the sustained success of that business. Customers are guaranteed to return when they have a positive experience, leading to loyalty, customer retention and brand advocacy.

A negative customer experience does the opposite; it leads to loss of customers and affects the reputation of any business. A PwC poll revealed that it takes just one negative experience for one in three customers to leave a brand they love. 73% of the poll point to customer experience as an essential factor in their purchasing decision.

In today's digital and social world, customers have enormous power to sell or do reputational damage to businesses with their experiences. This power is why brands must care about customer experience.

Customer experience is a broad term, but it simply means the sum of a customer's perceptions and feelings after interacting with a brand's product and services.

For online businesses, customers perceive a brand at different touch points during the shopping journey, including payment. As businesses intend to make revenue, payments are the most frequent touch points between businesses and customers. Payment has become an important touchpoint in customers' online shopping journey, which is why customer experience is driving the future of payments.

For online businesses, it doesn't just end with a user-friendly website and a fantastic product; in these times, a poor payment experience is enough of a negative experience for customers. Businesses that understand this are making sure they follow payment trends that optimise the experience for customers.

These are five payment tips to optimise customer experience

  1. Payment methods

Only a few things can frustrate customers other than the lack of different payment methods after completing their buyers' journey and about to finish a transaction. When embedding finance, businesses need to use payment partners that offer a variety of payment methods for customers.

With Fincra Pay-in, merchants can receive payments through checkout, Payment Link/Button and Direct Charge (API). Customers can pay with a card, bank transfer and PayAttitude.

These different ways of payment make it convenient and easy for customers to complete the transactions.

2. Multi-currency payments

With globalisation, people worldwide are transacting business with businesses beyond their borders. This phenomenon comes with the complexity of cross-border transactions and payments. The right payment partner can make your business ready for international transactions.

Fincra enables cross-border payments as merchants can receive payments in EUR, GBP, NGN, GHS and KES. Fincra merchants accept these payments in their Fincra Wallet and their local currencies.

3. Seamless payment

It's about the whole payment experience for customers when they interact with businesses. The key now is to make the payment stage of the customer experience as seamless and invisible as possible. For example, requiring first-time users to register on your website before making payments may lead to cart abandonment. Anytime there's an additional step between the decision to purchase and the ability to do so, you give customers time and opportunity to change their minds. Maybe it's distractions from social media, a phone call, or simply thinking twice; the more barriers in the payment process, the more you lose customers.

Businesses should use cookies to allow first-time customers to complete purchases before registering and also allow returning customers to store their information for easy checkout.

Fincra has simplified checkout options that allow customers to pay with a card, bank transfer or PayAttitude.

4. Payment gateway integration

Businesses have to take branding into account when integrating a payment gateway. An awful transition between the brand's website and the payment gateway could be a red flag for many who are still sceptical about online payment. Businesses must choose payment gateways that are easy to integrate with flexible options for branding.

Fincra has designed its APIs to automate end-to-end payment processes and deliver tailor-made solutions for customers.

5. Security

Customers enjoy a peak experience when their payments are secure as fraud cases continue to increase with the increase in online shopping. Businesses have to use payment gateways that are secured.

Fincra has world-class security and encryption technology to protect all data from any form of fraud. Fincra establishes and adheres to AML/CFT policies, and we have an in-house compliance team that conducts periodic audits and consistently implements industry security benchmarks.

Fincra is PCI DSS compliant and has satisfied the highest standard of Security Audit as a payment gateway processor.

Fincra is your perfect payment partner to help your business with all payment solutions.

Talk to us to learn more about our products or get started yourself.