Online eCommerce businesses encounter millions of dollars of monetary losses yearly due to their users abandoning their carts and not proceeding with the final payment. Several internal and external factors influence such decisions, like lack of digital wallet integration, concerns about the third-party payment platform, user experience, etc. Although businesses invest a lot in optimizing their sales funnel and implementing accurate strategies, they fail to make the sales reach their expectations. If you have also been struggling with your reported sales for quite some time now, it’s time you start planning on integrating different payment gateways so that your customers can complete the payment hassle-free.
Stripe has become one of the most popular payment platforms that not only have higher transaction completion rates but can also be integrated with multiple payment channels. Being a centralized platform, you won’t have to integrate different third-party payment plugins for digital wallets, debit cards, credit cards, and so on. Apart from this, integration of Google Pay and Apply Pay wallets can also play a significant role in boosting your sales and streamlining the entire sales funnel. Having said that, we have prepared a comprehensive guide on boosting eCommerce sales using Google Pay, Apple Pay, and Stripe integrations.
How can Stripe integration boost your sales?
Stripe is an online platform with a dedicated payment processing engine that will allow you to accept payments through credit cards seamlessly. The built-in security layers and encryption protocols ensure that online transactions are not compromised by any means. What’s more, most online transactions through credit cards on Stripe get completed much faster when compared to other payment processing engines. However, these aren’t the only reasons that make Stripe so immaculate and perfect for eCommerce businesses to boost overall sales. Below we have explained a couple of factors that can help you make more sales once you integrate this online payment processing platform with your website or application.
Seamless and hassle-free payment processing
Whether your customers want to pay through digital wallets or credit cards, Stripe makes online payment processing cycles faster and seamless. Customers can go and complete their transactions from both websites and applications within a couple of minutes without even having to enter their details manually. This can reduce cart abandonment, increase sales, and improve the likelihood of your prospects becoming long-term customers.
Multi-currency support with global outreach
If you are planning to expand to the international markets, integrating Stripe’s payment processing infrastructure with your website or application will come with a host of benefits. Firstly, it is supported in 135+ countries, meaning you can directly accept payments from customers belonging to these nationalities without any stringent restrictions. Secondly, you can also receive payments in different currencies and cater to your targeted international audience through Stripe without worrying about delayed transactions or too many interim approvals.
Integration with digital wallets
Stripe can be integrated with multiple payment channels on your website or eCommerce mobile application. For instance, you can integrate credit card payment, Google Pay, and Apply Pay without having to use any dedicated plugin or working on too many plug-and-play integrations. Once these diverse payment methods are integrated with your eCommerce platform, your customers will have better chances of making payments through their preferred mode. This can increase the conversion rate and reduce cart abandonment due to the sheer lack of diverse payment channels.
Mobile optimization
Since mobile shopping has become a trend now in the online commerce market, you need a payment processing engine like Stripe that can make online payments seamless and hassle-free on both smartphones and tablets. The mobile-based SDKs are easy to implement and can be used to process mobile payments through Google Pay and Apple Pay, thereby enhancing the overall user experience and improving transaction speeds.
Fraud prevention and enhanced security
Another reason to integrate Stripe with your website or mobile application is the myriad of security features that come in-built with the engine. For instance, you will have access to tokenization, PCI-DSS compliance, and encryption algorithms that ensure all the transactions initiated are secured from any external threat. The fraud prevention and machine learning algorithms present will automatically detect any suspicious activity and reduce the likelihood of scams and other types of cybercrimes. Hence, you will be able to build trust with your customers and operate your business with ease.
Customizable checkout
The Stripe Checkout window is highly customizable with minimal coding requirements. Hence, you can design it as per your brand’s story and ensure your customers can have an improved experience during the payment process. Besides, if the checkout page is aligned with your brand purpose and has the needed visual appeal, your customers are likely to complete the payment cycle without considering cart abandonment.
How Google Pay and Apple Pay integration can boost your sales?
Although we have explained the benefits you can gain from integrating the Stripe payment processing engine with your website or mobile application, it’s better to know the benefits of Google Pay and Apply Pay. With this, you can easily streamline the payment cycles and pave the way for boosting overall sales without any hassle.
Consumer benefits of Apply Pay
- Users preferring Apple Pay to make the payments will receive a 2% cashback as a reward for every online transaction made through this platform.
- Thanks to enhanced biometric verification systems like fingerprint readers and facial recognition profiles, the chances of fraudulent transactions are likely to reduce significantly.
- Credit and debit card details are never stored on Apple Pay along with the transaction details. Instead, the application reloads the details automatically based on the unique device number and the transaction detail, thereby preventing manual entry of these information pieces every time a user tries to make a payment through Apple Pay.
Consumer benefits of Google Pay
- Any online transaction completed through Google Pay will give online rewards like gift cards and cashback to the users, thereby incentivizing their actions.
- Google Pay will help users track their expenses with your online eCommerce business, thereby giving them a detailed overview of their account balances and the transactions made.
- Also, Google Pay uses a virtual account number to recognize the users and load the information directly on the application once it is selected for making an online payment to your business.
How Stripe can help with Google Pay and Apple Pay integrations?
Stripe’s online payment processing engine comes with built-in modules to add and configure digital wallets, including Apple Pay and Google Pay with your business account. Once you add these configurations, the payment gateways will be added to your website or mobile application and made visible to the end users. Hence, you won’t have to work on any separate integration since Stripe renders the entire process internally without any hassle.
Conclusion
In this detailed article, we have shared explanations of the ways both Stripe and digital wallets like Google Pay and Apple Pay can help boost sales for your online e-commerce business. Whether you have a website or a mobile application, you can use device-specific SDKs to streamline the payment cycles and boost the overall customer experience. Additionally, the customizability of the Stripe checkout page can help you to make it more visually appealing and align the same with your brand purpose for a higher conversion rate. This will ultimately influence your customer’s decision to make the payments and reduce the cart abandonment rate.