Consumers have come to expect easy, personalized payment experiences, especially when shopping online.
This means eCommerce merchants must find ways to stand apart in an increasingly saturated market by providing a diverse selection of swift payment solutions, said Yulia Drummond, CEO of eCommerce swimwear brand Voda Swim . The company currently supports a range of payment methods at checkout to meet its customers’ needs, including mobile wallets such as Google Pay and Facebook Pay.
“More and more customers want conveniences,” she said in a recent PYMNTS interview. “They want an easy checkout process that is seamless, and they want to pay with a payment method that is simple and that they [have come to trust] over the years.”
Matching consumers’ changing payment needs while ensuring that payments are secure can be tricky for merchants, as their users continue to ask for a rising number of diverse payment solutions. This is especially the case as governments enact digital payment regulations aimed at protecting transactions and users’ personal and financial information, such as PCI DSS and the EU’s PSD2 law.
Balancing Seamless Payments With Compliance Requirements
Offering consumers access to their preferred payment solutions means that merchants must work with an ever-growing list of payment service providers to ensure they can support multiple tools. eCommerce merchants must also be sure these transactions remain compliant with digital payment regulations, however, as lawmakers within the U.S. and the EU look to increase consumer protections while also making way for digital growth. Voda Swim’s partnership with Shopify helps the company navigate these changing compliance requirements, Drummond explained, but meeting the compliance and seamless payment balance is becoming more critical for today’s merchants.
“I do see the challenges for some companies of making sure the payments are processed securely from beginning to end while handling different payment service providers,” […]
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