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How Does Magento Payments Reduce Abandon Rate?

Online shopping cart dereliction is consistently increasing in the E-commerce industry. As per the recent survey, we can say that almost 8 in 10 customers steer away from the website without purchasing anything.

But, what are the reasons? Reasons we found apart from perplexing designs, long and confusing checkout, data insecurity, etc., a convoluted payment system can also have a negative impact on conversion issues. So, to have a payment system which will be easy to operate and will open a wide range of payment methods, we have Magento Payments.

How can Magento Payments increase the conversion rates?

Magento says, “Magento Payments will influence the industry-leading technology of Braintree and PayPal to entitles the traders to have a wide range of payment methods, including local and region-specific, to improve conversions and eliminate the hurdles concluding an online sale.”

As per the company, global e-commerce will increase from $2.3 trillion of 2017 to around $4.9 trillion by 2021 which will open good gates of opportunities for online traders. Magento payments give a hassle-free shopping experience as it provides Braintree payment, Signifyd fraud protection, and PayPal Checkout

Advantages of Magento Payments:

  • It is away more easy to set up and use by the store owners.
  • Directly from Magento Admin panel, you will get a hassle-free payment system and for that, you don’t have to make a third-party account.
  • It gives a clear picture of processed volumes, payment balance and also provides in detail transaction reports all together making it much easier for local traders.
  • One doesn’t have to look for paying to expertise and subscription.
  • The number of manual mistakes which are found between the data mapping will get reduced as everything is automatic.
  • Retailers can manage cash flow easily with a new feature- automatic synchronization of payments and order information in the Magento Admin.

What about Payment security?

Magento will link up with Fraud Guarantee to create a strapping security protocol which will alleviate the damage caused by fraudulent acts.

This indeed is a top-notch service of Magento and it will be up in the market by the beginning of 2019

Fill the form below if you want to implement Magento payments or require any kind of Magento service.

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    Eshika Is a bibliophile and conversationalist. Her life revolves around writing , photography, presentation and repeat. "go with the Flow" is her approach in life.

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