More than 80% of consumers will abandon buying something online if the payment experience is poor, according to the results of a survey released recently by Plaid, a payments platform company. For companies in the accounts receivable management industry, this should underscore the importance of making it easy for consumers to make payments via a payment portal, because the number of consumers who abandon the process for a collection payment is likely much higher than those who walk away from a retail payment.
Only 6% of consumers said they would not be swayed by a poor payments experience when shopping online.
Beyond the payment experience, consumers also want options. More than 80% of respondents to the survey said they felt it was important for companies to offer a “wide variety” of payment options. Twenty-two percent of consumers see a lack of choice of payment options as a reason to abandon an online shopping experience.
Consumers are also getting lazier, according to the survey. More than one-third of respondents said having to input all of the numbers on their credit or debit card was enough for them to abandon an online purchase, while another 30% said an “overly complex” verification process was the straw that broke the camel’s back.
This data underscores the presentation that was made
