Online purchasing processes use to be complex. Sometimes, they may seem trivial, but they always require various “pieces” working all coordinated. In this age, the market provides tons of sets of tools to support an entire workflow associated with an online purchase.
However, there is a part that is not running as fast as desired for the e-commerce industry: payment gateways provided by banks are not working well. In my opinion, the banks need to update soon and seriously their online payment systems, to allow to connect the online shops with the payments platforms in a productive an easy way. The customers expect the most when buying online, but it’s not hard to find a e-shop with problems with the payment gateways.
Usability, personalization and security
A payment gateway is a tool that manages the connection between online stores and banks. It’s main mission is check with the bank the transaction data about customer and price, to authorise or not a transaction.
Apparently, the security is being improved in the gateways payment platforms. But at the same time, they are becoming more complex. For example, there are some systems that require certain additional steps in the process (i.e: type a code sent by SMS to a mobile phone) when a customer pays by credit card.
Other important considerations are about design, performance and usability. Usually, payment platforms don’t have a friendly look and feel. IDt’s a lack of usability and design, causing a bad global performance. Developers don’t have options to customise this part of the process, neither to adapt it to the master lines of their online shops. Sometimes, when you get into a payment gateway, it’s like travel in time… towards the early times of the Internet era.
It’s about waste
This is a very serious problem for many online businesses because they are losing conversions in this part of the process. In other words, they’re loosing sales because they have a bad payment process. The customer was convinced to buy and he had already clicked on “Buy” button … but the transaction is not executed because the system fails.
The system denies the operation to the customer just in the last second. It’s not a problem caused by the customer, the rooth cause is the system because it does not have the minimum requirements to operate as the customers expected. The problem is a bad system usually provided by banks, but at the same time, is a responsibility owned by the shop CTO.
This situation also causes money loses in other areas. Example: increasing the number of complaints when the process is executed and the customer doesn’t know if the pament is completed or not. made the purchase or not, clicking in the “Buy” button more than one time. I have seen this recently in several websites that have implemented a bad payment gateway.
In short, the payment gateways are not running as fast as possible, adding costs to the eCommerce industry(complaints, queries, …). Banks need to change their estrategies in this area and update their payment platforms. Just one last question: if a customer is convinced and tries to buy in our website, but the system does not run as he expected, Does he trust us again?
Image | Aaron Escobar