How Can Digital Payment Options Enhance Customers’ Confidence?

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A customers’ confidence in a business is crucial to sales. It helps a business with recurring sales and also creates buzz via word-of-mouth. In the digital payments era, a vote of confidence from the customer can significantly improve a business’ customer-friendly image. Supporting this is a report by J. P. Morgan, which shows that nearly 72% of E-commerce transactions in India in 2019 were digital. It is safe to assume that the customer base of Gen X relies heavily on digital options. By leveraging this reliability, businesses can boost their sales considerably. After all, setting up an online payment system is not very difficult for a business. All they need is an online payment gateway.

What are the different digital payment options?

One of the best ways to boost customers’ confidence is to provide multiple online payment options. A few of the significant options commonly used in India are:

  • Credit Cards: Credit cards enable the customer to pay for products or services using credit. The customer has to repay the amount on time to avoid interest and penalties.
  • Debit Cards: Debit cards enable a transaction directly from the customer’s account. When the transaction is processed, it is deducted from the customer’s account. With a debit card, the customer is limited to funds available in that account.
  • UPI: UPI or Unified Payments Interface combines multiple bank accounts under the umbrella of one mobile application. It merges several banking features and brings all of them to the fingertips of the customer.
  • Net Banking: It is a secure way of transaction in which the amount is directly transferred from the customer’s bank account to the merchant’s account. The customer has to log in to the bank’s website and can process the transaction from there.
  • Mobile Wallet: It is a digital wallet that stores credit card or debit card information and processes payments through them instead of a physical card.

How digital payments and multiple digital payment options can improve customer confidence?

  • Convenience

Customers look for ease and convenience in everything they do as they like to invest in the experience. Digital payments can be initiated directly from one’s laptop or phone with just a few clicks, and processing a digital payment is super quick. The customers’ confidence in the business would increase with this easy payment process. An online payment gateway that provides multiple payment options makes the process more convenient because it provides them with the freedom to opt for their preferred payment mode. The customer doesn’t have to adapt to the business website’s needs but can conveniently select the preferred mode and carry out the transaction.

  • Security

Digital payments have become immensely secure in the last few years. UPI and mobile wallet applications are much safer since they do not require customers to fill in their bank details. With regulatory standards like PCI DSS and SSL, all legitimate gateways encrypt the user’s data before transmitting it. Another layer of security can be two-factor authentication or OTPs. Additionally, the tokenization of payment data prevents the information from getting leaked. Zaakpay offers various security measures to protect data against any cyber-attack among the gateways with affordable payment gateway charges.

  • Immediate Notification

With digital payments, invoices can be automatically generated and emailed to the customer. This increases the customers’ trust and confidence in the business because the receipt of the payment is immediately acknowledged. All transactions are also automatically documented with the issuing bank, and the customer can check them at any point in time. This invoice would have to be prepared manually in traditional modes, and sending it can be time-consuming. The customer would have to wait to receive it, and if it takes a lot of time to send the invoice, the customer can lose confidence in the business. 

  • Customer Support Service

Online payment gateway services also have active customer support. Generally, these supports are available 24 hrs a day, and the customer can contact them immediately in case of any transaction failure or error. Providing active support can boost customer’s confidence significantly. Customers would know that even if there is an error, they can dial a helpline number to resolve it. This would encourage them to purchase from the business without any hesitation. Zaakpay offers 24×7 assistance to merchants with any query and provides quick resolution to all tech-related queries.

  • More Control to the Customer 

Digital payments keep the customer more in control of the payment process. This makes them feel comfortable with the purchase and boosts their confidence. Most payment gateways also have the facility of guest checkout. Customers don’t necessarily need to register or create an account to order something. There can be features to save payment information to make future payments quicker and seamless. However, the customer must be given this choice. The payment gateways can also be customized with similar design elements as the rest of the website. All these features make the customer feel at home across the website’s different pages and boost confidence. All these services are a part of the affordable payment gateway charges for Zaakpay and can be used by merchants to increase conversions.

Conclusion

Amongst the so many payment gateway options available, Zaakpay offers all the solutions that the merchants need, to improve their customers’ confidence with affordable payment gateway charges. By investing rightly, one can enhance their customers’ confidence in the business & merchants bring positive growth in their revenues. 

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