ARTICLE
Your customers don’t like your payment experiences. Here’s how to change them.
Seamless: that’s what consumers today expect when they transact online. Informed by the rapid transformation of the e-commerce landscape over the past decade, today’s consumers increasingly expect quick, convenient and intuitive payment experiences – the fewer steps, the more choice, the better.
50% of consumers are more likely to abandon a payment if the checkout process takes longer than 30 seconds,1 highlighting how frictionless payment experiences are critical. While 77% say a good bill payment experience is important,2 consumers still find themselves frustrated by friction-riddled and inflexible processes.
Across all bill payment categories – mobile, internet, insurance, utilities and more – less than three-in-five shoppers say their service provider delivered a great payment experience. But with customers more likely to pay late (33%) or switch providers altogether (55%)2 after a poor experience or payment process issue, it’s time for service providers to up their game. Here’s how.
Enable one-click payments
Four-in-ten (40%) customers believe that complicated payment processes create a poor bill payment experience.2 Streamline your payment flow so that it requires minimal effort on the part of the customer to pay their bill.
53% of bill payers want to make payments in one-click,2 so offering a secure, one-click payment option from an SMS, email, webchat or chatbot can improve your overall customer experience and bolster on-time payment rates.
Offer flexible payment options
Flexibility isn’t just about offering a variety of payment options. With 63% of bill payers saying that the increasing cost-of-living has made it harder to pay their bills on time, offering more flexibility around when and how customers pay can make a big difference. Over half (51%) of bill payers agree that flexibility through instalments or the ability to change their payment due date would improve their likelihood of paying on time.2 This proactive approach can also enhance customer satisfaction and improve loyalty.
Turn customer support into a payment avenue
When a customer encounters a billing issue, your customer support channels — contact centres, email support and webchat – are the first touchpoint for resolving their concerns. These channels can be more than just a way to address queries. With the right technology, your customer support teams can also collect payments seamlessly and securely, resolving your customers’ latest bill queries while you have them on the line.
Build better relationships with your customers
If you want your customers to love your payment experience, you need to:
- Streamline your payment flow so customers can pay their bills with minimal effort: don’t make them copy and paste account numbers, call in to speak to someone, have to find the original bill, or log in with details they can’t remember.
- Integrate simple, one-click payment options across all communication channels, including SMS, email, webchat and chatbots, so your customers can pay wherever, whenever.
- Make it easy for customers to access payment plan options, extend due dates and change payment methods.
- Equip your customer contact channels with the ability to send secure, PCI-compliant payment requests so you can seamlessly collect payment while you have them on the line.
Implementing these strategies is easier said than done, especially if your business isn’t equipped with the right expertise. That’s where Glider comes in. Our payments communication platform is designed to do all the above, and more. Our easy-to-integrate solutions help create frictionless bill payment experiences that customers will love, improving rates of on-time payments and overall satisfaction.
Speak with one of our experts about how we can help your organisation.
1. Forter, Friction-Filled Online Checkouts Cause Shopping Cart Abandonment, 2019
2. Glider, Decoding Australian Bill Payment Trends: Insights for Success, 2023