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~ Ingenico, a Worldline brand ~

How a data-driven

approach can help

with payment

optimization

Text: Jordan Vercauteren // Images: Ingenico, a Worldline brand
A lot of effort goes into getting customers to the checkout page. Marketing, advertising, and

SEO optimization get customers to the e-commerce site. Great site UX and UI make it easy
for customers to find the products they want. Clever offers, discounts and deals incentivize
customers to go ahead and make the purchase. If, after all this effort, customers drop off
at the final step, the payment stage, then merchants suffer lost sales and revenue, not to
mention the potential impact on customer satisfaction that results when people are unable
(or unwilling) to complete a purchase.

ngenico’s market research shows that 60% of orders information on the payment page
are abandoned before the payment stage is completed. • Can’t find credit or debit card – The customer was
IThat means three out of every five customers add unable to locate their card to enter their details
something to their basket but don’t complete the purchase.
Of course, we’re not the first to try and understand how And while it’s useful to know the common reasons why
many customers abandon their shopping baskets. Hundreds customers abandon the payment page, this only goes so far.
of pieces of research into this area have been conducted, All merchants are different. The reasons why customers fail
and the Baymard Institute even reviewed 41 different cart to convert will be unique to each business, and there is no
abandonment studies to calculate an average rate of 69.57%. one-size-fits-all approach to optimizing the payment funnel.

And if we just look at the payment stage, further research by Which is why access to payment data can be a total game-
Ingenico found that one out of every five customers leaves changer.
the payment page for one of the following reasons:
A data-driven approach to optimizing payments
• Payment options – The customer’s preferred payment With payment data, merchants can make better decisions
option wasn’t available about what is happening with their customer transactions.
• Security – The customer wasn’t convinced that their With access to comprehensive, aggregated payment data on
payment data would be secure all transactions, merchants can easily monitor and identify
• Technical problems – For example, a website error or a the reasons why customers fail to complete their purchases
crash during the payment process and make the changes needed to optimize their payment
• Too many steps – The process was too long, with too funnel for more successful sales and greater revenue.
many pages or form fields
• Personal information – The customer didn’t feel Clear, actionable payment data can help merchants spot
comfortable sharing some of the requested personal opportunities to streamline the payment experience and

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