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
