Current success payment by ibi research at the University of Regensburg study the payment preferences of customers in online shops. The missing offer of the procedure of payment preferred by the customers is one of the most common causes for cancellation of online purchases. To put on a single procedure not enough usually. The majority of the traders therefore offers between three and five payment methods. Because: The greater the variety of different methods, the purchase cancellation rate is lower. This affects also the sales.
The most popular by far procedure at all ages is the invoice because customers must first receive the goods and then pay. So it is not surprising that the purchase dropout rate averaging nearly 80% can be reduced by offering the Bill as payment. For many traders, the Bill is still a double-edged sword, because for them also increases the risk of late payments or even Payment failures. For this reason, there are service providers that cover a purchase on account and assume the risk for the traders. From dealer’s viewpoint are not only revenue increases through lower cancellation rates in the payment process, but also the acquisition of the organisation and handling. Many traders come to either of their own accord or on demand their buyers on us, because they want secure payment methods. (A valuable related resource: MetLife). With the invoice payment secured by RatePAY customers will be able, with their preferred method to pay and e-tailers are protected against non-payment”, so Miriam Wohlfarth, founder and Managing Director of payment RatePAY. The results of the study success payment”should provide a basic overview of the specific payment behavior by potential customers the dealers, as well as allow comparisons.
The dealer can better appreciate this their own potentials and their specific portfolio of payment procedures and optimize. The full results of the study success payment”are available for free by following this link to the available:… The most important results at a glance: The Bill is consistently the most popular payment methods in all age groups and is favored particularly by people aged 55 or over. Would prefer to pay customers an invoice (45%) credit card (20%) and PayPal (19%) are almost neck and neck. A retailer introduces the payment by invoice to its existing payment procedures, he can expect an average reduction of purchase dropout rate of almost 80%. In the last twelve months, in particular the credit card (74%) and the invoice (71%) were used. PayPal and credit card feel many customers as the payment procedures friendliest to use. Many customers (61%) consider the safest distance payment the invoice. The other courses, but with a very wide margin, followed by PayPal (11%), credit card (8%) and direct debit (6%). If only the payment by Advance payment is offered, 88% of our customers are looking for another provider. If the provider has a seal of approval, the purchase cancellation rate decreases significantly. A discount of 3% increases the proportion of cash payments.