Ecommerce

What Is Payment Processing And How Does It Work?

That image up there represents the worst possible scenario for your business, losing a willing customer to factors entirely out of your control. For a small business, payment processing can be the toughest piece of the ecommerce puzzle.

An abandoned cart doesn’t have to be a lost cart. Around 81 percent of users abandon their carts while shopping online. For business owners, abandoned carts can signal that the checkout process needs to be optimized and generate more sales. You will need to learn more about your customers and understand what products they are interested in.

For many modern consumers, the shopping journey begins on the internet rather than a store. In fact, more than 87% of shoppers search for products online before buying them, regardless of whether that’s from the internet or an in-person store. Because of that, you want to bolster your online presence as much as possible.

Introduction

As an online store owner, you might have noticed potential customers leaving your website just before they reach the point of purchase. This is called shopping cart abandonment. Customers may abandon their shopping carts for various reasons ranging from security concerns and a complicated checkout flow to hidden fees and shipping costs. 

It’s fall once again, and that means Black Friday and the upcoming holiday season are just around the corner for ecommerce businesses. It used to be that customers lined up at stores’ physical locations. Now, most of that action has been taken online.

Customers abandoning their online carts is a sign that something may be wrong with your ecommerce site. What should be a regular flow of browsing a site, adding items to a cart, and entering payment information can be interrupted for many reasons.