Ecommerce success: three keys to success for entrepreneurs

Renew or die, that is the question in an increasingly competitive and fragmented business world. The digitization of the business world is an indisputable objective for any entity that intends to expand and evolve in this environment. Digitalization and cybersecurity expert Omar Orta has assured in his book ‘The company of the future is human. Towards a sustainable digital transformation’ that 40% of Spanish companies would be unable to tackle their digitalization process and would have to close down in the next five years.

In the era of ecommerce, PaynoPain, a Spanish fintech specialized in the development of online payment tools, we can affirm that incorporating a wide range of payment alternatives has become essential to enhance the customer’s shopping experience and facilitate a simple, intuitive and secure purchase process. To achieve this, it is crucial to have a complete and omnichannel payment gateway that makes it possible to make payments in an agile way from any device.

Here are three of the main keys for entrepreneurs to make your ecommerce a success.

Flexible and secure payment solutions

An essential key to implement in your business is flexible and secure payment solutions. This way you can increase conversions and optimize the shopping experience for the customer.  

Merchants need to integrate payment solutions such as credit cards, digital wallets (Apple Pay/ Google Pay), bank transfers, deferred payments or Bizum. Consumers value the security and convenience that the payment method can offer them and based on these factors they will decide which payment method they will use to make the transaction. 

The more payment alternatives you offer your users, the less likely they are to abandon their cart before completing the purchase, as they are more likely to find a payment method they feel comfortable with.

Personalizing the customer experience

Another fundamental key to better connect with the customer is the personalization of the customer experience. Ecommerce should use the consumer’s purchase history and preferences to make product recommendations, which will not only increase sales but also customer satisfaction. 

If you want to reach a better audience and build loyalty with existing customers, our advice is that you can provide them with personalized discounts and benefits. This will encourage lethality and strengthen customer relationships. 

Cybersecurity during payment

Finally, it is key to assure the customer that our website has a high level of cybersecurity. Online security is a palpable concern for users. According to the survey “New habits in payment methods in Spain 2023” that we conducted from PaynoPain, 61.4% admit to having been victims of fraud such as phishing or pharming. 

In this context, payment platforms such as Paylands are equipped with advanced security technologies, such as card tokenization and a proprietary anti-fraud system. These tools allow dynamic rules to be established that significantly reduce the risk of fraud in any online business. In addition, these rules, along with speed and geographic controls, are fully customizable according to the needs of the business. 

Do you need a secure payment gateway?

In conclusion, in a constantly evolving business market, digitization has become essential for the growth and survival of companies. In the ecommerce sector, the integration of flexible and secure payment solutions emerges as an essential key to improve the customer experience. In addition, personalization of the customer experience, based on data analysis and preferences, effectively fosters customer loyalty. Finally, ensuring secure payment against cyber-attacks or fraud will bring high customer confidence.

By adopting these three keys for entrepreneurs, you will be able to lead your business to success. If you need more information about a secure payment gateway, do not hesitate to contact us!