Last editedMay 20222 min read
Building trust with your customers is the key to improving your branding and sales. If people don’t trust you, they won’t purchase from you. If they do trust you, then they’ll not only buy from you, but recommend your business to others, and win you valuable new leads. The best way to build customer trust is to understand what your customers want and learn how to make life easier for them.
This is where an online payment system can step in. Offering your customers a convenient, clear, and secure online payment solution is a good way to help build long term customer trust. The right payment system also provides you with a way to capture data, use this information to turn consumers into repeat customers and grow your business.
In this post, we’ll examine how offering the right online payment systems can help you start to build customer trust.
What is customer trust? A brief definition
Customer trust is, at its core, no different to the trust put into personal relationships. It comes from a belief that a business will do as they say, that they are sincere, and that they will not deliberately cause any harm to a consumer. Customer trust needs to be earned.
Once you understand your customers’ needs, show that you respect them, and offer them the right services, you’ll start to earn their trust. Then, they’ll return to purchase more from you, as well as encourage their friends to do likewise.
Build customer trust by offering a variety of online payment options
Offer a variety of online payment methods, according to the specific needs of your customers. There are lots of payment providers to choose from, and some will allow for payments to be taken via eWallets, using cryptocurrency, or via prepaid cards.
If you can show your customers that you’ll process their payments securely, and that what they have spent with you will immediately show up on their bills, this will go some way to earning their trust.
It’s also essential to offer customers an intuitive and consistent user-experience when they’re paying by reducing friction. The easier it is to use your online payment system, the more likely customers will proceed all the way to payment, rather than abandon their carts before checking out.
Give customers plenty of visual cues to follow throughout the checkout process. For example, use large, distinctive buttons to take customers through the steps to payment. Once they’ve paid, display their receipts on screen, including all the relevant transaction details, and email receipts to customers immediately after they’ve paid.
If you collect recurring payments from customers - for example, if you’re a subscription business - taking payments via direct debit can be a good way to build customer trust. Using a payment processor like GoCardless makes it easy for customers to set up direct debit payments. Then they can forget any forthcoming due dates, safe in the knowledge their payments will be taken in time, every time, without any further effort.
Benefits of online payment systems
Online payment systems allow for cashless payments to be made for goods and services using cards, mobile phones, or the internet. The main benefits include cost and time efficiencies, increased sales, and reduced transaction costs. Another big advantage of online payment systems is that you can establish your business globally, so long as you use a method that can accept payments in multiple currencies.
For customers, using an online payment system saves them time and effort, and offers them a level of convenience that was not previously available. As a seller, you can improve your reputation by receiving online payments and gain customer trust. These days, having an online payment system is also essential to stay relevant. If you’re still asking for payment via cash or checks it could be a good time for a strategic change, to improve customer retention.
We can help
GoCardless is a global payments solution that helps you automate payment collection, cutting down on the amount of financial admin your team needs to deal with. Find out how GoCardless can help you with one-off or recurring payments.