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How F.I.T. is Your Payments User Experience?

Nothing stops your customer dead in their tracks like a poor user experience. If you enable end customers to pay within the platform you provide, an inelegant user experience can create a fragmented, confusing and inefficient experience for the end user. Considering this is the part of the process where they’re collecting revenue from their clients, why would you ever want to throw stumbling blocks in their path? One misstep too many and that customer is on their way to your competitor.

So, what defines a “good” user experience and what considerations should you keep in mind when integrating payments into your platform? Unfortunately, there’s no magic checklist I can hand you and say, here…follow this, but there are some universal truths to keep in mind. This is where the F.I.T. test comes in.

F.I.T. = Functional, Intuitive, Trustworthy

Functional – Your payment integration needs to be seamless. Customers should be able to enroll to open an account, use the payment channels within your system and should not have to go far for ongoing support and questions.

The checkout process is the most important customer facing component of your platform if you accept payments. You need to minimize the steps involved and ensure that nothing can cause your customers to get hung up along the way. Frustrated customers will bounce out and never return.

Intuitive – Taking payments shouldn’t require an instruction manual. There should be no hidden surprises along the way. Your customers should be able to navigate along every step with ease and understanding.

Familiar logos, icons and clear, concise instructions should be present to head-off any potentially confusing elements. Making this process as intuitive as possible not only encourages more customers to finish their transactions but can also lead to better customer retention and significantly increased revenue growth.

Trustworthy – Today’s environment of increased security threats and data breaches has created a more skeptical and cautious customer. If payments through your platform do not inspire trust, don’t be surprised if your clients or their customers don’t use it.

Being trustworthy is more than just having the appropriate security logos and certifications labeled on your site. Data security needs to be a topmost priority, and it must be more than checkbox “compliance.” It needs to make your client’s process easier.

Is That It?

In the end, the F.I.T. test is just a basic set of principles to follow. Finding a payment partner who will help you adhere to these ideals is key since the entire process of creating an optimal integrated payment experience is much more complex.

Wind River Financial recently put together a white paper that goes in depth on the subject if you’re interested in reading more. The paper breaks down five approaches to integrated payments and how they relate to overall user experience. Feel free to contact me as well if you have any other questions.

*This article was originally published on LinkedIn on February 20, 2018*

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