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Business studies have shown that shopping cart abandonment is a major issue for online merchants, with a large number of users getting frustrated at the checkout stage. The abandonment rate varies from 60 to 80 per cent. How can you make the checkout process easier for your customers while reducing fraud? One easy way to accomplish this is to implement acceptance of Visa Checkout and Mastercard Masterpass. These online digital wallet services make it easier and faster for customers to checkout – customers don’t have to fill in all their personal information (name, address, payment information) since they‘ve already done that in their digital wallet and stored it in the cloud.
What are the benefits for you as a merchant?
More traffic on your site
Higher conversion rates
Making the checkout process as frictionless as possible is a key factor in the success of online commerce in light of fierce competition. Accepting digital wallets can benefit your bottom line by pushing up top line revenue while reducing the burden of fraudulent transactions.
Start development now
If you are a Moneris merchant using our e-commerce payment services (via Hosted Pay Page or one of our APIs), the process is simple:
Soon you’ll Be Payment Ready for digital wallets!
Robert is a technical writer in the Product team at Moneris. He writes end-user documentation for a variety of payment solutions, focussing on helping merchants to make the most effective use of our products. He has worked in the technology space for the past 20 years.