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Ace your customer experience by choosing the right payment gateway

Article3 mins read | Posted on October 9, 2024 | Updated on January 20, 2025 | By Chandramouli

As businesses are striving to gain a competitive edge over their competitors, customer experience has taken center stage. Businesses are ensuring every customer touchpoint is peppered with actions that help improve the customer experience. While doing so, businesses have realized that providing an exceptional experience while accepting payments significantly impacts how customers perceive a business and leads to quicker buying cycles. In this context, businesses are looking for payment solutions that help them provide exceptional payment experiences to their customers.

Ace your customer experience by choosing the right payment gateway

Key factors that impact customer payment experience

It is well known that B2B payments involve larger transaction volumes, multiple payment methods, and more complex payment terms. B2C payments, in contrast, are more about smaller volumes and larger number of transactions. In both cases, there are features that critically impact the overall customer payment experience.

Security and trust

Accepting payments in a secure manner is paramount for all businesses. After all, it seals the bond of trust between businesses and its customers. Payment solution companies strive hard to build a robust system that encrypts and secures all transactions. SSL certificates, two-factor authentication, PCI DSS, PSD2, and SCA help identify payment gateways as secure. When customers feel safe, there are higher chances of completing the payment transaction.

Seamless experience

Reducing friction is the key to a smooth payment experience. An intuitive user interface, clear navigation, and pre-fill options create such an experience. In addition to this, payment options like one-click payment and saved card information help improve the payment experience.

Transaction speed and success rates

Customers these days expect the transaction confirmation with zero errors in seconds. Delayed transactions and frequent failures lead to purchase abandonment.

Multiple payment methods

Customers and businesses have diverse payment preferences and rely on payment methods like credit cards, debit cards, bank transfers, UPI , digital wallets, and BNPL. They expect their preferred method to be readily available to carry out transactions.

Multi-currency support

With a boom in cross-border trade, multi-currency support by payment gateways has become crucial. Localized payment options and real-time currency conversion can make the customers more willing to complete the payment.

Mobile optimization

With increased smartphone use, many customers look to complete their transactions on their mobile devices. A responsive mobile payment gateway interface will help businesses push the customer payment experience to the next level.

Data availability and transparency

An essential part of any payment is trust. It can be gained when customers are well-informed of their transactions. Providing real-time data about the transaction amount, exchange rate, additional fees, and transaction status reduces any anxiety or concerns customers may have.

Customer support

On-time support is critical to ease any fears customers may have in the event of payment issues. Businesses can ensure such support with the help of payment gateways that have a reputation of resolving issues quickly through phone, live chat, or emails.

Pre- and post-payment journey matters

In addition to the key factors, the pre- and post-customer payment journey stages matter for delivering high standards of customer experience. They are also different for B2B and B2C businesses.

B2B businesses request payments, generally, by sharing invoices with the help of their accounting platforms or ERPs. A payment gateway that integrates smoothly with these platforms can automate financial processes, reduce manual data entry, and ensure all financial records are accurately updated in real time. This integration enhances operational efficiency and provides B2B customers with a cohesive experience. In addition to this, a provision to access detailed invoices and payment information via a dedicated online portal for customers will help ace the customer payment experience completely.

B2B businesses allow the customers to initiate their online payment from checkout pages. Natively embedding the payment gateway pages here with clear communication and personalized help further enhance the payment experience.

Conclusion

A holistic approach to the customer payment journey, from initial interaction to post-payment support, is essential for businesses striving to offer an exceptional customer experience. By leveraging advanced payment gateway solutions, companies can not only meet but exceed customer expectations, fostering loyalty and driving business success.

Disclaimer

The information provided here is for general informational purposes only and should not be construed as legal or professional advice. Zoho Group does not warrant or guarantee the accuracy, completeness of the information in the article.

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