What What are the Payment Methods and Cart
Abandonment Rates in E-Commerce?

Today, E-Commerce is growing very rapidly. Many tradesmen enter the market, aiming to open stores on the internet by closing the shops of local establishments. According to the 2018 data of Tübisad association, the growth rate of E-Commerce has been measured as 42% in Turkey. The turnover made in line with this result is; It has been announced as 59.9 billion TL.

The payment stage is where you get all your efforts and money for your e-commerce site. Difficulties and problems faced by customers who find the product they are looking for at the payment stage constitute one of the biggest obstacles to transformation. It is critical that you work with a good payment services provider to ensure your efforts are not wasted and our e-commerce venture is successful.

The Importance of Credit Card Payment Method in E-Commerce

According to 2017 data, the amount of card payment for online shopping was announced as 99.1 Billion TL. Based on these data, 36% of the users and visitors use the credit card payment system. If the rate of abandoning the basket on your e-commerce site is high, one of the main reasons for this can be called payment methods. Except for the payment methods, it was observed that 34% of the buyers did not end the sale after the product was examined, and 23% did not end the sale because they had problems with shipping. 6% of the basket abandonment rate of consumers in 2017 is due to limited payment options.

So what are the improvement methods?

. Providing trust to the user:

SSL, Privacy policy, Delivery terms, Distance Sales Agreement, Product Returns Policy and About Us etc. The pages provide some confidence to the user, even if they are to some extent.

2. Bringing the mobile shopping experience to the highest performance:

Users now attach more importance to mobile shopping. According to the reports of Barilliance, the smaller the screen, the higher the rate of abandoning the cart if the design is broken.

While these rates are 73% in computers, it is known as 86% in mobile phones.

In mobile shopping, speed, accessibility of the product, and most importantly, easy access to "Payment methods" are required. In general, we can say that one of the biggest mistakes of many E-Commerce sites is that they do not store the product in the basket.

How is the basket abandonment rate measured?

You can measure with tools such as Google Analytics and Google Tag Manager. In 3rd party applications, you can easily measure with Hotjar. Do not hesitate to create campaigns for your users who leave the cart. In this way, you can increase your sales volume and provide an image of trust to the user.

What to do to improve the basket abandonment rate?

1. Make sure your page is fast.
2. Design your page for mobile devices.
3. Evaluate the cost of + VAT, + Cargo in the basket.
4. Offer a shopping option without the user becoming a member.
5. Create a remarketing strategy by e-mail.
6. Create live support where the user can ask questions.
7. Watch the visitors.
8. Estimated delivery date.
9. Provide Re-Marketing arrangement.
10. Increase the use of SMS.
11. Make your notification sending settings.
12. Provide a pop-up display.
13. Generate download coupons.
14. Provide cookie settings. (The product in the basket is added to the basket of the user who comes back)
15. Offer different payment methods. (Payment at the door, credit card payment, bank transfer & EFT)
16. Get service from Payment Institutions. (In addition, if you receive service from a payment institution such as PayTR, you can eliminate the troublesome processes such as applying for Virtual Pos to banks one by one, and enable your buyers to pay from all credit cards with a single payment module integration. In addition to withdrawal and installment payments, they can also complete their payments with debit cards and prepaid cards and use their points for shopping)

With the 16 items mentioned above, we can attract users back to your site and sell the product.