As everyone knows, digital technology has revolutionized the ways people shop and pay for goods. eCommerce is easy, convenient, and benefits consumers and businesses alike.
But here’s the rub: it only takes one poor customer service experience and you can lose a customer to a competitor with just the tap of a screen or the click of a mouse. So, the big question is, what can you do to stop this?
Some merchants give their website a sleek makeover or add new technologies to engage consumers. Yet, there’s one aspect of customer experience that can make a huge difference in itself: payments.
Hear how payments can be critical for improving customer satisfaction from Visa Senior Director of Client Success Jennifer Zessin.
According to the 2023 Global Digital Shopping Index (GDSI), developed with PYMNTS.com, payment choice is the feature most valued by shoppers. So, how can payments help you create customer experience that has people returning again and again? Here are three things from the report you should consider.
Tokenize and personalize
While global shoppers have their own preferences, certainty, ease of use, and smooth, personalized customer payment experiences have universal appeal.1 This is where tokenization can help.
Tokens can do much more than protect customers’ details. They can simplify complex payment processes and show you a 360-degree customer view that leads to personalized relationships and improved loyalty. Tokens also make it easier to add new features like buy now, pay later (BNPL), one-click shopping, and buy online, pick up in store (BOPIS).
The GDSI report shows that BOPIS and curbside collection grew by 26% in 2022, driven by lingering supply chain issues that left consumers uncertain about when, or if, they’d receive orders made online.1 Merchants responded by adding collection options into their order flow, giving customers a greater sense of reassurance.
So, if you want to drive more value from payments, make sure you’re driving more value from tokens.
Offer the digital features your customers prefer
Adopting digital features can positively affect sales and satisfaction, yet the features that can close a sale vary by market.
Coupons, promo codes, and rewards are valued in Mexico and the UAE.1 For Indian shoppers, it’s free shipping.1 The UAE showed the highest growth in shopper satisfaction—11% year-over-year—as merchants added more digital features than in any other market surveyed for the report.1
Most importantly, don’t forget to tell customers about new features. The GDSI report found that many merchants didn’t,1 missing chances to engage customers and keep their brand front of mind.
Blend digital with the real world
It's not just online where digital features can enhance shoppers’ experience and increase satisfaction. 2022 saw more people using smartphones and apps to feel more confident about in-store purchases and to help them find the things they want quicker, with less hassle.
For example, global shoppers who use in-store navigation apps are roughly 29% more satisfied than those who don’t.1 Among U.S. shoppers, this figure rises even higher, to 42%.1
Make payments work for you
The 2023 GDSI report is packed with even more insights that can help you improve your customer experience and stay ahead of your competitors. Read it now—and discover how payments can help keep your customers satisfied and loyal.
Disclaimer: Case studies, comparisons, statistics, research and recommendations are provided "AS IS" and intended for informational purposes only and should not be relied upon for operational, marketing, legal, technical, tax, financial or other advice. Cybersouce neither makes any warranty or representation as to the completeness or accuracy of the information within this document, nor assumes any liability or responsibility that may result from reliance on such information. The Information contained herein is not intended as investment or legal advice, and readers are encouraged to seek the advice of a competent professional where such advice is required.