Scary Payment Practices That Will Send Shivers Down Your Spine

— October 27, 2017

Halloween is a scary time for many of us, and choosing an online payment solution could be a real nightmare, if you don’t know what to avoid.

We understand you, you’re thinking about implementing an online payment solution on your website or you want to switch your current payment gateway but it’s too scaring to even try? Don’t let your payment solution wear a scary costume for the whole year. Consider a few things that will help you choose wisely.

To make it simpler, meet some scary practices that you should avoid, even during Halloween.

1. Never-ending integration process

Picture the scene — You’ve spent a few weeks adding an online payments to your website, trying so hard, but there are still errors during the payment process or something just isn’t working well.

What’s more, imagine you have limited or no control over the development and payment process on your website. Not cool, huh?

Keep in mind that some payments may fail, so choosing the solution that gives you full control over the process makes you not only knowledgeable about the reason for failure but also gives you time to take some actions as soon as the charge is done. You need to be aware of anything that happens with payments on your website, you simply need a solution with real-time reports and notifications to always keep you updated.

This is what SecurionPay has to offer — a technologically advanced payment platform, and simple to integrate at the same time. With powerful and versatile APIs that will give you endless customisation possibilities and an effective reporting system.

2. Hidden or extra fees

Sometimes it’s the small things that are the most terrifying, especially when unexpected. Bearing this in mind, you don’t want to let payment provider surprise you with hidden fees or sudden fee changes that appear like a clown jack-in-the-box that pops out and scares all into a frenzy.

What you need is a transparent pricing structure with no hidden or extra fees guaranteed, so you always know how much and what you pay for. Things don’t always look as they seem, so focus on the REAL costs to avoid getting tricked.

3. Bad user experience

Badly designed checkout pages are haunting online businesses so often. And you should know that long and complicated checkout processes will freak your customers out.

Do you really want to give your customers a payment form that scares more than zombies or clowns? All the distractions or redirections during the checkout process are even scarier. It’s a real conversion killer, so keep this fear aside.

One-click payment pages make things faster, so keep customers on your site and don’t force them to visit external services to complete their purchases. Get rid of all the frictions during the checkout process.

4. Limited flexibility

Not having the ability to tailor payments to your business needs can be a major burden. Why? If you think that Halloween is spooky, just wait until you will have to deal with unhappy customers.

Delivering a solution that meets your customer’s specific expectations, based on their behavior, increase their satisfaction and boosts sales in return.

Find a solution that supports various business models and covers their needs and preferences. Seek a payment provider that will let you combine subscription payments with one-time charges and offers conversion-boosting tools, such as one-click payments or cross-sales.

It’s good to know that you can mix various billing models and create any payment scenarios you can imagine. All this leads to simplifying the purchasing process and improving your business success rate.

5. Security concerns

Needles to say that fraud is one of the scariest things for your online business. That’s why you need a solution that will keep your business ahead of the fraudsters and their spooky tricks. Scaring others during Halloween is fun, but scaring your customers may cause you business failure.

Of course, you need a keen sense of alertness to keep the things going, but to deliver more fairy tales than nightmares to your customers, you should seek a payment provider that covers all PCI issues.

A payment provider without extra security layers might put you and your customers in great danger, so look for one that provides machine learning solutions and contains anti-fraud tools, such as non-invasive 3D Secure, blacklisting, etc. to protect your transactions and reduce the number of chargebacks.

6. Lack of support

You may need assistance when you go door-to-door to collect all the Halloween candies, so it’s always good to know that there’s someone around who can help you (and don’t eat all your candies, of course!).

The same goes with payments on your website. Both you and your customers need to be sure that you’ll get an instant help when something goes wrong with payments on your site.

Payment stats you can’t miss this Halloween

Still not so scary? Let’s look at some terrifying stats that will send shivers down your spine.

• The average online shopping cart abandonment rate is 69.23 percent (Baymard Institute)
• Fraud losses on UK issued cards increased to £618.0 million in 2016 from £567.5 million in 2015 (Fraud The Facts 2017)
• 47% of the world’s credit card fraud happens in the U.S. (Barclays report)
• 86% of identity theft victims reported the fraudulent use of their credit card or bank account information (Bureau of Justice Statistics)

Quite dramatic, don’t you think?

The scariest part is that credit card fraud is happening everyday, at all times. Even though it sounds horrific, calm down — there are solutions like SecurionPay that help you handle these worst-case scenarios.

The lesson for today: A payment provider doesn’t have to be as scary as you think, but you need to double check things before accepting them. Protect your business from the dark side of inefficient solutions, don’t be scared of giving up things that don’t work and revive your dying business. When you do things right, it will have a powerful effect on customer loyalty.

What scares you the most when it comes to payment processing? Feel free to share your worst nightmares in the comments below.

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