What Are Customers Looking For During The Payment Process?
Hello merchants! With the first week of December here, the holidays have come in full force! Accordingly, we have a post discussing what research has found to be the most important factor in a customer’s purchasing decisions this year, and what changed from last year!
In 2018, a study called Eye on Payments discovered that the largest factors that customers took into consideration before buying a product or service were the convenience and the safety of making the purchase. While making a purchase, customers wanted to have a quick, simple, and safe purchasing experience. If the process had too many steps or asked for too much information, there was a chance that the sale would be lost. Additionally, if the transaction did not seem safe, then customers would also think twice before paying for a product or service. While other conditions could still affect the purchasing process, these two were the most significant.
In a shift between this year and last, the study was conducted again in 2019 and discovered that while customers still preferred convenience, safety is not a top matter anymore. Now the two most important considerations are convenience and ease of use. With instances of fraud declining over the last year, customers are less concerned over having their information stolen, while still wanting a simple experience when checking out. To accompany that, they also want as little interaction with the terminal or gateway as possible, preferring to have a more streamlined experience.
What Does This Mean?
This marks a significant crossroad for merchants, as safety is still important to customers, however, it is less important than convenience and ease of use. Yet, to maintain a safe transaction process, there may be the inclusion of more steps in the purchasing process in order to maintain that security. This is directly counter the customer’s preferences.
Is There A Solution?
Yes! While it may be difficult to balance these three factors, it is not impossible. FlashBanc can provide you with terminals and programs that both provide safety and security that is necessary for merchants and customers alike, while still providing the convenience and ease of use that is preferred by customers. All you may need is a new terminal or gateway that can reduce the steps necessary to finish a transaction, perhaps through faster processing, more memory, or different programs. We have countertop and wireless terminals, as well as the Clover suite!
How Can I Get It?
Through FlashBanc of course! By contacting us or contacting your local sales representative to assist you, we can switch you over to a terminal that still suits your business while also keeping customers satisfied and safe. Additionally, we have our client support department, which is designed to assist you in any way possible. All you need to do is reach out to them by calling 1-800-808-1622. While you’re at it, you can also inquire about any programs that might make future purchases for your customers more convenient, such as our loyalty, gift cards, or cash discount programs or more of our terminals, powered by First Data! We also have other merchant cash solutions available! Let us know what you need, and we will provide the solution!
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