CORE FOR GOVERNMENT
How to Improve Adoption of Your New Digital Payment Option
INTRODUCTION
INTRODUCTION
For modern consumers, multiple payment options have become the new standard for any online payment experience.
Among those options, adoption rates for credit cards and other digital payment options are steadily growing. Nearly 30% of all purchases are made with a debit card while credit cards make up 23% of purchases. But beyond selecting which option customers use when they make a payment for a good or service, the way in which they pay is also changing.
Making payments on a mobile device is the new standard. More than 80% of consumers would prefer to make payments digitally on their phones or other online platforms, while one out of every five consumers say they would prefer to use an app to make a payment. The majority of customers are ready and expecting digital payment options while only 5% of consumers still prefer to make payments by sending a check through the mail.
Improve your constituent payment experience by accepting American Express and all card brands.
Clearly label credit cards, including American Express, as a payment option with printed signs for your office
Clearly label credit cards, including American Express, as a payment option with digital decals on your website
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STEP 1
of consumers prefer card payments instead of cash payments
80%
of all consumers own at least one credit card
76%
of households use more than one payment method in their day-to-day
90%
different payment methods every month
3.5
On average, consumers use
As many businesses and local governments move to digital payment options, several key benefits stand out:
Digital payment options allow you to accept payments 24/7
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Online, digital payments keep your office open 24/7 vs. only accepting walk-in payments and processing mailed payments during office hours.
Adoption rates are higher for credit card and other digital payments.
More consumers are using cards for payments than ever before, and they expect multiple card options at checkout (no matter the industry).
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Digital payment options reduce waste and cut down on resource time.
Processing physical payments through the mail is both costly and time intensive compared to digital payments that don't require an envelope, stamp, check, or a staff member to physically process the payment.
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As you roll out a new digital payment option or look to improve your existing digital payment options, it’s critical to have a strategy for adoption.
Follow these three key steps to improve the adoption of your new digital payment option.
be sure to address the following:
Educate your team
STEP 2
Educate your customers
STEP 3
Stay engaged
STEP 1
Educate your team
STEP 2
Educate your customers
STEP 3
Stay engaged
Implement training on the new digital payment option. Whether it’s a payment platform like Venmo or Paypal, or a new credit card option like American Express or Mastercard, it’s important that your team understands how to process payments with the new option.
Compile your training in a Frequent Asked Questions document for your internal team and use it to train new staff members as they join. Include as many visuals as possible, showcasing where and how to use the new payment method.
As you implement the new payment method, make sure to identify success metrics to analyze how your new method is received both internally and externally. Baseline conversion metrics are important as you consider which payment methods will be offered in the future.
1
How your customers or constituents can find the new payment option
How your customers or constituents can use the new payment option
2
How your staff should answer questions about the new payment option
3
be sure to INCLUDE the following:
A new payment option rollout isn’t complete with customer education. And that education doesn’t stop after the first 90 days. As new customers and constituents purchase goods or services, physical signage, email messaging, and digital decals will alert them to all possible payment options.
As you integrate new payment options into your checkout experience, add any new process or option to your public-facing Frequently Asked Questions list. Detail—with imagery as much as possible—how to use each payment option.
Physical, in-person signage detailing all payment options
1
Digital decals on your website's checkout page
2
Digital decals and messaging on email communication
3
Add digital payment satisfaction questions to your customer satisfaction surveys and Net Promoter Score communication. Include questions about payment offerings and overall checkout experience to assess what’s working for your customers and constituents and what needs to be changed.
As you analyze the data, assess which payment options are the most popular, which are used the least, and which payment options are correlated with cart abandonment.
As with any customer experience information, modify your customer-focused FAQ webpage and implement any changes to your checkout experience to reduce friction for your customers and constituents.
View Sources
SOURCES
Here are the original sources for the numbers and statistics used in this experience.
2019 Findings from the Diary of Consumer Payment Choice
New Study Reveals 83% Of Consumers Want To Pay Bills Online
Cash vs Credit Card Spending Statistics (2021)
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