It is in the details that companies working with e-commerce can get ahead of their competitors, retaining customers and increasing revenue. One of the ways to do this is to take good care of the payment flow during the purchase. The optimization of the customer experience after they have entered the payment phase is a small adjustment, but it makes all the difference. The potential for additional earnings reaches 20%
Researchrecent from Nuvei showed that, in general, the optimization of the payment process can generate up to 30% more revenue in e-commerce, and this includes improving the consumer experience while they are paying for their purchase. The report found that 70% of shopping cart abandonment occurs after the customer enters the payment flow. This suggests great opportunities for adjustments at this stage as well. That is to say, it is not enough to offer good products and services on a user-friendly website, for example: it is necessary to think about the fluidity of the experience also at the time of payment
To improve transaction performance and increase conversion rates, companies should seek to optimize three points: removal of friction from the payment process, relevant payment and financing options and minimization of transaction errors
Low-friction payments are essential
Another finding from Nuvei's report was that 42% of dropouts occur when the e-commerce system asks the customer to enter personal data and payment information. One way to overcome this difficulty is the implementation of the autofill feature through browser plugins and digital wallets, together with express payment solutions, like Apple Pay or Shop Pay. This initiative reduces the burden on the customer, making the experience more satisfying
Furthermore, allowing consumers to complete purchases in guest mode can help capture more sales, because those who do not feel comfortable creating an account will tend to proceed with the payment
It is worth noting that these approaches reduce the number of steps that buyers must go through to complete a purchase of a product or service, keeping your purchase intent high until the transaction is completed. Industry research suggests that removing friction from the payment process can lead to a 35% increase in conversions. This data signals the direct impact of simplified payment experiences on revenue acceleration
Sufficient payment and financing options
Although offering multiple payment options is advantageous and tends to reduce cart abandonment rates, the conclusions of Nuvei's report suggest the need for a strategic approach. This is because an excess of options can lead to decision fatigue, increasing the complexity perceived by the customer regarding the transaction process
Therefore, it is crucial to select, test and prioritize payment methods that align with the preferences and habits of the target audience, in addition to adapting the payment mix depending on the market. Another important point is the integration of flexible financing solutions, such as installment plans or "buy now" options, "pay later" (BNPL, in the English acronym, what democratizes high-value purchases and further stimulates conversions
Fast and accurate transaction processing
In the Nuvei survey, almost a quarter of brands reported that their customers permanently abandon carts after declined payments or error messages. Another 31% cited the slowness of transactions as one of the most common negative feedbacks they received. Today, the main market references indicate that consumers expect to complete a payment transaction in e-commerce in less than two minutes, at the same time they have low tolerance for declined payments — 42% of consumers disengage after experiencing a payment error
Thus, to align with these standards and customer behaviors, e-commerce brands need to ensure that their payment infrastructures are not only fast: they must also be scalable and accurate, without errors. In this sense, payment technology is a great ally, with tools like cascading mechanisms, account updater and robust redundancy of acquirers in target markets, especially during peak seasons. Enhancing the system architecture to support faster processing times and more reliable transactions can significantly reduce delivery times and improve the payment experience. A customer with a good experience tends to complete the purchase and, more important, to buy again
