Secure Payment Gateway Is Your Solution to High Abandoned Cart Rate

So you’ve managed to attract potential customers to browse your products and services, and engage them until they have decided what they want to buy. You also have successfully got them to add their items to cart! 

But somehow, not all of them proceeded to complete their purchases. In fact, you may have more abandoned carts than orders.

The average abandoned cart rate, as concluded by Baymard Institute based on data from 41 separate studies, is almost 70 percent. To be precise, it is 69.99 percent. This means out of every 10 customers who already reached the “add to cart” phase of their customer journey, only three eventually proceed to complete their shopping experience. 

Excluding people who abandon their shopping cart because they are just browsing, many of the next top reasons for abandonments during the checkout process can be solved by providing a secure payment gateway. 

Why customers abandon their carts during checkout, and how to solve their concerns

Out of the reasons to abandon shopping carts during checkout listed by the respondents of Baymard’s 2022 research, not trusting the site with their credit card information, complicated checkout process, unable to see the total order cost up-front, and the seller not offering enough payment methods can be solved with having a trustworthy, secure payment gateway.

Secure payment gateway ensures the safety of customers credit card information

For customers who decided not to complete their orders because they do not trust an e-commerce seller with their credit card information, e-commerce stores who offer bank level (Tier 1 PCI DSS) security through secure payment gateway such as PayChoice will dissolve their hesitation. 

Secure payment gateway simplifies your checkout process

How many steps does your current checkout process have? No one likes having to jump through the hoops to do anything, so why make your customers go through so much trouble just to shop online? 

By syncing your existing software with a secure payment gateway like PayChoice, you can assist your customers to complete their purchase with much less hassle just by adding a simple piece of code to your online store. 

If you’re using PrestaShop, Magento, Opencart, or Website World, you don’t even have to add any code!   

Secure payment gateway means so many payment methods options for your customers

An Australian-owned secure payment gateway such as PayChoice enables you and your customers to pay with various payment methods, from credit cards to direct debits, BPAY, and more. 

Calculate how much time and money you can save with secure payment gateway PayChoice

On top of reducing your abandoned cart rate, using a secure payment gateway can help you reduce costs, streamline your payments process, and accelerate the growth of your business.

Find out how much revenue and resources you can optimise by consulting with the Australian payment gateway experts. Click here to get in touch with PayChoice’s representative.