Peak season prep: better payment experiences for busy times

It’s busy season, and your business needs to process as many good transactions as possible. But your checkout asks customers to input all kinds of information: name, address, email, payment details, and more. This kind of friction can cause them to abandon their cart: a recent study found that 87% of customers will do so if checkout is too difficult.

Slim down your checkout experience with Click to Pay, which lets customers choose from previous payment methods and check out with just one click.  Our drop-in UI is quick and easy to implement and can help get you get started fast with no programming.

Storing customer credentials on file can also help simplify future checkouts, manage loyalty programs or customer accounts, and power subscriptions or recurring revenue.

Many of your loyal customers will likely return during peak season, and you want to be able to recognize them and personalize their experience. For instance, if they’ve bought shoes from you before, you might want to offer similar recommendations that are available in their size. Or, if they haven’t bought shoes since last peak season, you might want to offer them a discount to incentivize a purchase.

Tokenization is a powerful tool to help you better secure and manage customer data. Our Token Management Service, can help you recognize genuine customers so you can quickly authenticate and authorized their transactions. And it gives you deep insight into customer buying behavior by tracking it across channels, allowing you to offer recommendations or loyalty discounts. Using network tokens alongside Click to Pay can reduce fraud as much as 31% and boost authorizations as much as 4.3%.²

And busy season will likely bring in new customers that have no shopping history with you. For instance, if a new customer buys software from you for the first time, you don’t have much information about their identity. But they are likely a part of Visa’s massive global payments dataset, so their identity and purchasing history could be verified. Token Management Service offers a unique opportunity to identify these genuine new-to-you customers and give them a smooth experience.

A customer gives you a donation every year during the holiday season—but this year their transaction is declined. They’re recognized at checkout and presented with their saved payment method, but their card has expired and they forgot to update the details with you. False declines can be detrimental: 59% of consumers are less likely to shop at the same merchant again following a decline.³

Our Account Updater updates expired or reissued debit and credit card credentials automatically, so genuine customers don’t experience a false decline. Card details for Visa, Mastercard, and American Express⁴ are automatically updated so you can avoid the time and costs of manual updates when you’re experiencing high volume.

And Payer Authentication helps establish customers’ identities before their transactions are sent for authorization—another great way to reduce false declines for a smooth checkout experience.

It’s never too early to start prepping for better payment experiences during busy times. We’d love to discuss how we can help your business fight friction with customizable checkout solutions and an open payments platform.