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Checkout and Payment Options

In: Digital Marketing

Author

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  • Klaus Solberg Söilen

    (Halmstad University)

Abstract

The chapter discusses the evolution and importance of checkout processes and payment options in online transactions. Beginning with the advent of digital payments in the late twentieth century, the chapter highlights key developments such as the launch of Amazon and PayPal, which revolutionized e-commerce. It emphasizes the need for a seamless, secure, and user-friendly checkout experience to build customer trust and reduce cart abandonment. Key strategies include offering multiple payment methods (e.g., credit cards, PayPal, digital wallets), ensuring a simple and intuitive design, and providing transparent cost information. Security measures like SSL encryption and displaying security badges are crucial to reassure customers about the safety of their transactions. The chapter also explores various reasons for cart abandonment, such as unexpected costs and complex checkout processes, and offers solutions like upfront cost display and guest checkout options. By optimizing the checkout process and addressing customer concerns, businesses can enhance customer satisfaction and loyalty, ultimately driving higher conversion rates and sales.

Suggested Citation

  • Klaus Solberg Söilen, 2024. "Checkout and Payment Options," Springer Texts in Business and Economics, in: Digital Marketing, chapter 9, pages 107-115, Springer.
    • Handle: RePEc:spr:sptchp:978-3-031-69518-6_9
    DOI: 10.1007/978-3-031-69518-6_9
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