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Embedded Payments for e-Commerce: Easier Integration, Management & Business Growth

Embedded payments for e-commerce are transforming the payments ecosystem by providing efficient and hassle-free ways for customers to checkout. E-commerce platforms use embedded payment solutions because of the key benefits they offer that are lacking in conventional payment methods. 

In a world where companies are looking for ways to streamline business processes, and consumers want to complete a purchase with the tap of a button, embedded payments have become the norm and even a necessity. Embedded solutions are preferred in both B2B and B2C transactions due to the seamless purchasing experiences they offer.

Embedded payment improves the buying experience for B2B and B2C transactions by significantly minimizing checkout frictions. This is achieved by getting rid of time-consuming, multi-step processes that come with using third-party sites. Both retailers & consumers embrace embedded frameworks because they make e-commerce payment fast, convenient, and secure.

Payment solutions for e-Commerce

Any business that wants to cash in on the present e-commerce growth must institute measures to increase conversion rate and offer shoppers an amazing experience. Improving your checkout process is one of the key ways to optimize conversion rate.

According to the data collected by Baymard Institute, the average cart abandonment rate is 69.82%. This value is the average of the figures reported by 46 different studies on e-commerce cart abandonment. That said, you can get a better result by instituting a good conversion rate optimization strategy.

About 18% of cart abandonments occur due to long or complex checkout processes. The same report revealed that checkout optimization can boost conversion rates by 35.62%. The question is, how do you improve your e-commerce’s checkout flow?

With a simple and easy ecommerce checkout process, you can boost sales and foster business growth. Improving your checkout requires the implementation of a fast payment system. Using a simple payment option shortens the checkout process and makes payment easy & faster.

This is what embedded payment does! It streamlines the e-commerce checkout flow and makes everything simple and easy for shoppers – B2B & B2C transactions alike. A fast and simple checkout process will enable you to improve customers’ shopping experience. Implementing embedded payments for e-commerce is the way to go if you want to increase the conversion rate.

Advantages of Embedded Payments for e-Commerce

Here are the benefits of embedding a payment system within your e-commerce platform:

Streamlined Customer Journey

Shoppers abandon carts due to lengthy checkout processes. Customers want an effortless buying journey that does not require a time-consuming payment option. Embedded payment methods streamline the customer journey by making payment faster and more convenient. With a tap of a button, they can quickly pay for products and escape the stress of being redirected to a third-party page. 

Improved Buyer Experience

How your customers feel while checking out matters, and can determine whether they will be one-time or repeat buyers. Embedded payments streamline the payment flow and offer shoppers the best experience possible. A payment process with fewer steps makes the buying experience more convenient and faster.

Trust and Confidence

Having your customers pay through a portal can negatively impact their trust and confidence. They may doubt the authenticity of the transaction and suspect they are being scammed if directed to a third-party page to complete payments. On the other hand, embedding the payment system within your platform improves your brand’s reputation and enables shoppers to develop trust and confidence in your business.

Easy Management

With the embedded solution, you have control over the payment system and you can optimize it as you please without the interference of a third party. The flexibility can significantly impact your bottom line in the long term. This is because you have control over user experience and payment management.

Extra Revenue Stream

B2B business models can diversify revenue streams by monetizing the payment process. You can increase your revenue by collecting payment fees charged to your merchants. Processing fees may be small but they add up and improve your business’s success in the long run.

Easier Integration & Reduced Overhead

Embedded payment solutions are easy to integrate and it cuts down costs by reducing the number of third-party solutions and custom integrations you need to run your e-commerce business.

Business Growth

A simple and fast payment system enhances customer experience and significantly increases conversion rate – which fosters business growth. The final outcome of all the benefits outlined above is a boost in sales, resulting from repeat customers and referrals.

A Headless Checkout

By adopting a headless commerce platform, a retailer can create a more relevant experience for its customer across the board, including payment. With a headless commerce platform comes the possibility of implementing a headless checkout.A business can implement and manage the payment provider of it’s choice without disrupting the back-end.

 “A headless checkout decouples the purchase and payments experience from businesses’ websites and enables consumers to make purchases from virtually anywhere.” Fast.co 

Giving your customer the possibility of buying a product outside of the retail website will boost your e-commerce growth. Payment buttons that can be directly integrated into a piece of content, allows users to buy an item directly from an email, an article or social media for example.

Learn more about the Headless Commerce approach.

Choosing an Embedded Payment Solution for your e-Commerce

Online payment providers to help you implement embedded payment solutions. Here are the top 4 payment providers for e-commerce and headless commerce:

Lyra leverages their e-commerce expertise to propose a tailor-made solution for your business. With their solutions, you can offer your customers a streamlined journey and optimized checkout process on your sales channels.

Stripe is already used by millions of organizations for software and APIs to accept payments and manage their e-commerce. Ranging from Woocommerce Stripe to every solution you need to accept payments, Stripe offers one of the easiest and most flexible embedded payments solutions.

Checkout.com’s payment solutions leverage their expertise to optimize your checkout flow. With their integrated payment solutions, you can create a unique and custom built payment solution that suits your business needs to a tee.

Adyen is an online payment provider that offers flexible and customizable embedded payment solutions. Whatever your business model is, there is a solution you can integrate to create an e-commerce checkout system that speaks class and innovation.

Each of these solutions can be integrated as part of a modern and headless e-commerce platform and all can be used with Front-Commerce’s modern front-end.

Conclusion

Integrating an embedded payment solution within your platform will significantly boost conversion rates and help you get rid of challenges that come with using a third-party portal. Implementing embedded payments is the way to go if you want to optimize your checkout process with a seamless experience for your customers. With any of these leading online payment providers, you can easily adopt embedded solutions and take your e-commerce game to a higher level.

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