Payment Podcast: The Biggest Challenges in the Payments Industry and Solutions for Merchants

The topics discussed in this episode include increased sales conversions, payments for high-risk, user experience in payments, chargebacks minimizing solutions, and subscription payments, to name a few.

You’ll learn why online dating or gambling are challenging markets when it comes to payments, how the SecurionPay solution helps merchants take advantage of the market possibilities, and how you can resolve the most common problems, thanks to the right approach to technology.

Plus, Adam will explain why payment form UX design matters and how redirections can kill conversions, as well as why the payments industry needs banks to catch up to provide better services, new products, and enhanced user experiences for both merchants and their customers. All these changes are especially important now when new business needs are born due to COVID-19-related changes across online markets.

Here’s a little sneak peek:

Adam: If you’re thinking of a gambling platform, let’s say that you want to bet on a live event in a football game. Or take a volleyball game or basketball game where you have timeouts, right? You would like to quickly make a bet during the timeout moment. But if you need to be redirected somewhere else and make the payment somewhere else. All the time that it takes, it’s so long that you may lose the chance to place the bet before the time out is over. Then you wouldn’t want to use this platform anymore because it’s more of a struggle. You know, you just may have missed an opportunity. You saw that you would have won the bet, and you’re really angry. That’s where you were not able to make it.

So our idea was to very much simplify it and place everything on the website of the product or a service provider. Remove any type of friction that may be there during the payment process. Embed everything on the website, either dating websites or gambling websites, Forex, whatever it is. Minimize the amount of information that’s required to make the payments. Pretty much all you need with the card payment is the card number, CVV code, and validity of the card.

Listen to the entire episode for more online payment insights, to learn the biggest industry challenges, and to hear about plans for the near future. Also, see why and how SecurionPay stands out from other payment providers and what its unique selling points are.

You can find “Episode 021: Conversion Optimized Payments — Adam Zamecki, SecurionPay” here. Let us know what you think!