Businesses always aim to increase their conversion rates and reduce cart abandonment in the fast-paced world of ecommerce. Statistics indicating that 70% of online shopping carts are abandoned make it abundantly evident that there is room for major improvement in the industry. In order to address these issues and offer online merchants an improved payment processing solution, payment services company Worldline has teamed up with BigCommerce, an Open SaaS ecommerce platform. This collaboration aims to offer a seamless checkout experience, improve conversion rates, and empower merchants to retain control over their orders.
The Impact of Cart Abandonment
According to research conducted by the Baymard Institute, the abandonment of online shopping carts without making a purchase is a prevalent issue. However, it is estimated that optimizing the checkout flow and design could potentially result in a 35% increase in conversion rates, representing a staggering $260 billion worth of recoverable orders. One of the primary reasons for cart abandonment is the limited range of payment options available to customers. Moreover, a recent report highlights that complicated and challenging online retail interfaces can lead to not only cart abandonment but also the loss of customers’ loyalty to brands.
Worldline and BigCommerce’s Solution
To combat these challenges and provide a comprehensive payment processing solution, Worldline and BigCommerce have joined forces. Worldline, known for its expertise in payment services, will integrate its traditional and new, local and global payment methods into the BigCommerce platform. This partnership empowers merchants to have full control over their orders, refunds, and cancellations directly from the BigCommerce back office.
Benefits for Merchants and Customers
Merchants using BigCommerce can now enjoy a streamlined setup and go-live process, along with an all-in-one interface. They can customize their payment page to align with their brand’s unique aesthetic and design the checkout flow according to their preferences. The integration also ensures automatic cloud-based updates, simplifying the management of payment processes. In turn, customers are presented with an easy-to-use and secure checkout page when making purchases, enhancing their shopping experience.
The Importance of Varied Payment Options
Björn Hoffmeyer, Worldline’s head of regional business, emphasizes the significance of offering customers their preferred payment methods. With shoppers having different preferences, such as local bank transfers, credit cards, or buy now, pay later options, not providing suitable payment options often results in lost sales. The partnership between Worldline and BigCommerce aims to bridge this gap and ensure a wide range of payment options to cater to diverse customer needs.
Commitment to Merchant Success
Russell Klein, Chief Commercial Officer of BigCommerce, affirms the company’s dedication to providing merchants with top-notch technologies and service providers. The partnership with Worldline exemplifies their commitment to empowering merchants to sell more efficiently and grow faster, maximizing their overall success.
The partnership between Worldline and BigCommerce represents a significant step forwards in solving the problem of cart abandonment and improving the customer checkout process. They hope to provide merchants a complete payment processing solution that reduces cart abandonment rates and boosts conversion rates by combining their strengths. Merchants can optimize their ecommerce operations and fuel growth with a user-friendly, secure checkout page and a variety of payment alternatives. Both Worldline
