Transparent checkout: what it is and how it affects online payments18/07/2022
Find out how to optimize your local or cross-border e-commerce payments and what makes transparent checkout the best option for online stores.
Transparent checkout is a simpler and more fluid way for e-commerce businesses to receive online payments. The customer does not need to switch to another website to conclude their purchase, which means they feel safer sharing sensitive data, such as credit card details. Keep reading to find out why optimizing your online store checkout could make a difference to your conversion rates.
What is transparent checkout? What are its advantages?
The checkout is the final step in an online sale where the customer fills out their delivery and payment details; online checkouts exist in various formats. After adding the products they want to buy to their cart, a standard checkout redirects customers to a payment intermediary website.
Because of the change in environment, this is when many consumers feel a degree of insecurity. Redirecting a customer to another website could raise suspicions of fraud. This could cause the customer to give up on the transaction, especially an impulse purchase.
With transparent checkouts, concluding the transaction involves one less step: the whole process takes place on the same page on the e-commerce website. Consumers are not redirected to another website to pay for their purchases because the platform on which the store was developed is integrated with a payment provider.
The process happens in seconds – the time it takes to load the e-commerce web page – and is imperceptible to users, which means they feel more secure. Here are some of the advantages of a transparent checkout:
Transparent checkout: what are the advantages
User experience: the fewer steps it takes to conclude a purchase, the better. The forms that have to be filled out on a user-friendly checkout page only collect essential data needed to conclude the order. Additionally, the checkout page can be customized with the store’s visual identity, which builds trust.
Conversion rate: 75% of Latin American e-shoppers usually abandon their carts. People might give up on a purchase because of logistics (delivery takes too long or shipping is expensive), payment issues, or the checkout process. Abandonment commonly occurs because customers need to register with the store, a lot of information is requested, the site is slow to load or users don’t trust the website. This means a transparent checkout can help drive conversions.
Payment methods: integrating an e-commerce store with an online payment provider – a prerequisite for transparent checkout deployment – also opens up a wide range of payment methods. For instance, an online store can sell to other countries via cross border e-commerce and accept local payment methods.
PSP Bexs Pay: a transparent and easy to integrate checkout for your online business from a high performance payment services provider.
It is important to guarantee customer data security, detect faults and prevent website attacks when centralizing every stage of online sales on an e-commerce website. Online vendors can do this by contracting a payment gateway or PSP that includes fraud prevention tools and a PCI DSS certificate, which are minimum information security requirements.
The Bexs PSP solution not only offers a high level of security, there are three different ways it can be integrated with an e-commerce platform: via API integration, Embedded CheckOut or Payment Link. If you are selling on the Brazilian e-commerce market – which is constantly growing – you can offer local payment options such as Pix, boleto and Nubank’s recently launched NuPay.
Bexs Pay’s PSP can be highly customized and offers all the attributes required to make the checkout experience more convenient and help your business grow. Contact our specialists to find out more!