In the evolving landscape of digital payments, merchants face significant challenges in ensuring a seamless checkout experience. With the introduction of various payment options, including digital wallets and buy now, pay later (BNPL) services, the checkout process has become increasingly complex, leading to higher rates of cart abandonment. John Beisner, Head of Client Success at Splitit, emphasizes that complexity is the enemy of sales, urging merchants to streamline their processes to enhance customer satisfaction and completion rates. Low authorization rates for BNPL options can frustrate consumers, who may abandon their carts if they encounter any friction during the purchasing journey. Splitit offers a solution by allowing consumers to use their existing credit cards for installment payments without the need for additional loans or credit checks. This approach not only simplifies the payment process but also boosts merchants' cash flow and customer retention rates. By focusing on simplicity, merchants can significantly improve their sales outcomes.
Read the full article here.