Defining the Baseline for Good Payment Options in eCommerce

Payment options are a hot topic in digital commerce, but what does it mean to have a ‘good’ set of payment options?

Here are three things to look for:

  1. Number of payment options.  It’s important to provide patients multiple ways to pay for your products.  56% of respondents expect a variety of payment options on the checkout page, according to Column Five Media. For big ticket items, we recommend at least 4-6 payment options across multiple use cases: pay at once, pay in installments, and apply for additional credit.
  2. Ability to combine payment types.  For products with a high out-of-pocket expense, many patients cannot afford to purchase the product with a single payment type.  Allowing the use of multiple payment types in a single transaction (for example, a credit card down payment plus an additional lender), can increase revenue by 5-10%.
  3. Simple user experience.  As the payment process becomes more complex, it becomes critical to guide patients to the payment method best for them.  A simple user interface for your patients — whether they’re on the phone or online — will improve their experience and increase performance.

Feather Pay is an advanced payment technology built by Green Feather that incorporates best-in-class payment options and user experience into a single integration.  Deployable in both eCommerce and telesales applications, our customers have seen a 5-10% increase in revenue from implementing our technology.