Seamless payments is crucial in helping e-commerce businesses increase sales…
The buying and selling goods and services in online marketplaces have experienced tremendous growth and popularity over the years. A rise in smartphone and mobile app usage, a wide product range, and the need for convenience are critical factors behind e-commerce businesses’ increased prominence.
Despite their popularity, e-commerce businesses need help in checkout processes. This is when customers are required to complete their purchases by providing necessary information and making payments for the selected products or services.
There currently exists an average of 70% cart abandonment rate, which means that only three out of ten customers who fill their shopping carts make it to checkout to complete their purchase.
Some of the primary reasons for this high cart abandonment rate are a tedious payment process and a need for different payment alternatives. This necessitates e-commerce businesses to integrate seamless payment options into their checkout portal.
How Bani’s alternate payment solutions can help e-commerce businesses increase sales
Bani offers e-commerce businesses an easy and instant payment process at checkout. The payment options, including unique virtual accounts for bank transfers, e-wallets, payment links, and cryptocurrency, are tailored to simplify steps, eliminate unnecessary fields, and reduce the number of clicks required to purchase.
Virtual accounts: At checkout, your e-commerce business can provide customers with Bani’s unique virtual accounts for bank transfers. The relevant account details are displayed to the customer to initiate a payment transaction.
What makes Bani’s virtual accounts unique?
- Your customers will be provided virtual accounts of different top banks, and they can choose their preferred bank for the transfer. This will significantly reduce transaction failure rates.
- You will receive instant notification of payments, and your funds will be settled instantly.
- You will spend less using our virtual accounts to collect payments than traditional bank accounts.
- You can conveniently track customer payments, create branches for your business, and access your inventory. All in a single dashboard!
E-wallet: Your customers can have the option to pay through their e-wallets. Our e-wallet is cost-effective and secure, and payments are settled instantly.
Payment link: Bani’s payment links offer e-commerce businesses a convenient option to collect payments from customers without needing a traditional shopping cart or integrated payment gateway.
You’ll simply generate a customisable payment link and send it to the customer via email, SMS, or any other communication channel. The customer can click on the link to proceed with the payment.
Our payment links are convenient, fast, secure, and cost-effective.
Cryptocurrencies: Bitcoin and stablecoins are becoming more widely accepted as payment options for e-commerce businesses. These currencies offer a decentralised and secure way to make payments, with low transaction fees and fast processing times.
Bani provides e-commerce merchants in Africa with cross-border cryptocurrency payments.
Optimising the checkout process by minimising payment steps and ensuring instant confirmation time will provide a seamless payment experience for your customers. This efficient and user-friendly checkout experience is crucial for your e-commerce business to reduce cart abandonment and increase conversion rates.
Sign up today in three quick steps on bani.africa to provide easy and instant payment options for your customers at checkout and enjoy an increase in sales. Talk to our sales team for any additional information you require.