VLEUTEN | Adyen, one of the fastest growing global payment service providers, and Edgar, Dunn & Company (EDC), a global strategy consulting firm specialised on payments, partnered to research the payment checkout experience relating to online revenues. The research is based on in-depth interviews with online merchants and on payment data provided by Adyen.
Consumer Behaviour Changing Payment Checkout
The swift adoption of smartphones and tablets has rapidly changed consumer behaviour and expectations. Consumers expect simplicity, convenience and relevance when shopping online, whether its via their desktop, tablet or mobile. At the heart of this shopping experience, payments have become a key element that directly impacts online revenues. Payments should not be seen as just a concrete last step in the online shopping process, however, as a fundamental element that enhances the whole customer experience.
How to Optimize Payment Checkout
Adyen and EDC's report called 'Optimizing Payments to Increase Revenues' provides better insights for online merchants how to optimise their payment checkout and transaction processing, and, at the same time, enhance the customers' shopping experience to drive incremental sales. The report handles 8 best practices and serves as a free guide for online merchants helping them to improve payment checkout and increase conversion rates.
Streamline Whole Shopping Process
For merchants to respond to the changing habits and attitude of online shoppers they need to streamline the whole shopping process to make it simple, convenient and customised for each consumer. Online shoppers when checking out have only one clear mission: complete payment as swiftly as possible with the least hassle.
Customer Centric Payment Page is Crucial
One of the key best practices to increase conversion is to optimise the design of payment pages, to create user-friendly payment pages, to use A/B testing for fine-tuning and to have specific designs for mobile devices. Merchants should implement responsive design, fully dynamic payment skins that automatically detect the screen size of the device used by consumers and adjust the payment skin accordingly. The other best practices include to offer local forms of payment to unlock specific customer segments, one-click-payments and segmented use of 3D-Secure.
All 8 Best Practices
For a detailed explanation of all 8 best practices, substantiating charts and case studies, please get your own free copy on Adyen's website. Do not forget to check out the interesting chart on the impact of 3D Secure on conversion rates per country and why dynamic 3D Secure could be important for online businesses.
Adyen is a global provider of international and multichannel payment solutions. The Adyen Payment Platform supports all sales channels, including online, mobile, Point-of-Sale (POS) and Mobile Point-of-Sale (MPOS) payments, and offers solutions that increase revenue while managing risks and reducing costs. The Platform is highly scalable and can be completely customized to meet any merchant requirement. Adyen processes 224 local payment methods and 187 transaction currencies used on six continents, making it the ideal partner for international expansion. Many high profile customers use Adyen including Groupon, Badoo, SoundCloud, Getty Images, Mango, KLM, PopCap Games and Vodafone. Adyen is headquartered in Amsterdam, with offices in London, Paris, Berlin, Stockholm, San Francisco, Boston, Sao Paulo, and Singapore. The company processed more than USD 10 billion in 2012.
For more information
Adyen, Delphine Bos, Global Marketing & Communications, firstname.lastname@example.org, www.adyen.com