On the web, a smooth payment experience effectively reduces the transaction failure rate. There are various reasons for high bounce rates on website transactions. Online shoppers and consumers usually have a very limited amount of time to browse and leave a website. If the checkout process is cumbersome, they will soon give up. Therefore, you need to make sure that the checkout page is clean and easy to navigate in order to complete online payments smoothly. :- www.deekpay.com

Statistically, about 20-25% of initiated transactions end up in failure. This is a huge loss of opportunity for merchants. So, how can you reduce the bounce rate? Obviously, it's impossible to completely control, but a large portion of it can be controlled. To do this, you need to understand the reasons behind transaction bounces.

Understanding user intent is critical, and to achieve this you need to provide a simple, easy-to-use and intuitive experience that reduces the number of steps required to reach the payment page.

What is the transaction bounce rate?

If a website's checkout experience isn't simple and intuitive enough, then online visitors may close the page. This can lead to bounced transactions, meaning you're losing out on revenue from transactions that could have been successful but ultimately failed due to a complicated checkout page.

Before you can provide a seamless checkout experience, you need to understand the user's intent. For example, let's say a user visits your site to purchase a cinema ticket with minimal steps. Unfortunately, your checkout page requires the user to fill out many mandatory fields before jumping to the payment page. This increases the likelihood that the user will close your site without making a transaction, thus increasing the transaction bounce rate.

How long does it take for a consumer to complete a payment? Just a few seconds. Here are some ways to make the online payment process easy and convenient:

Using Google Autofill

Most online shoppers use Google Chrome or Android and Google saves their personal information. You can take advantage of this by adding Google autofill to your checkout forms. This will make form filling easy and hassle-free.

Simplified forms

You want visitors to complete transactions easily and quickly. A simple form requires only brief information about the user and credit card information. Complicated forms can frustrate visitors who will leave without completing the transaction. Make sure your forms are straightforward and easy to fill out. You should only request the information needed for an online transaction, such as name, email and credit card details.

Securing online payment gateways

Use a secure payment gateway to keep your online visitors' personal information safe. If you tell your customers that the online payment gateway is secure, they will feel more confident in completing the transaction. Use PayUmoney, India's best payment gateway, which encrypts all stored data using a strong PCI DSS Level 1 gateway.

Optimising forms for mobile

Today, most online shoppers are using their mobile phones to complete transactions on their favourite shopping sites. By providing checkout forms for mobile devices, you can increase the conversion rate of your website. Here are some suggestions:

Align form fields vertically for easy navigation

Reduce the use of images for faster form loading

Remove multiple steps from the checkout form

Selecting large buttons for the checkout form

Read our blog post How to Build Successful Lead Generation Forms to learn how to make simple and intuitive lead generation forms.

Pricing and Payment Options

Avoid charging consumers any hidden or additional fees. Customers usually abandon the shopping cart if they find unexpected charges during the checkout process. Before customers pay, make them aware of the payment options and various fees such as shipping charges, payment gateway fees.