Solution Portfolio - Page 61



EXPERIENCE IS KEY
The payment process is now widely recognised as having an important emotional dimension. User
experience is hugely important in e-commerce and creating a positive journey can yield signicant benets –
people shop online because it’s convenient. The checkout and payment experience should reect this and be
as clear and concise as possible. Successful payment managers are championing this, using their payment
strategy to deliver positive customer experiences.
65
%
35%
No
Yes
Figure 15: Have you seen a reduction in check-out abandonment
rates as a result of payment user experience improvements?
Our survey ndings illustrate the actions that Payment managers are taking to ensure positive customer
experiences throughout the payment process. Of all merchants surveyed, 65% have seen a reduction in
check-out abandonment as a result of payment user-experience improvements. Our last study identied that
items added to a basket is far from a measure of purchase completion with consumers that are yet to consider
nal cost, terms & conditions and payment options, all of which trigger an emotional response.
Successful merchants are prioritising strategic improvements to these
elements of consideration in order to facilitate the realisation of positive
experiences and increased conversion.
These strategic improvements to the payment process demonstrate a practical example of how the “new”
habits of successful Payment managers are being implemented. Such behaviour validates that managers
recognise rstly, how the Payment function has evolved and, secondly, ways in which they can use their
Payment function as a source of competitive advantage.
The Impact of the Payment Function Today
The Quantitative Insight Into the 7 Habits of Successful “New” Payments Leaders
17

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