7 out of 10 people abandon the shopping cart at checkout – Last Minute Economy News

The rise in e-commerce’s share of global retail sales during the pandemic has made online channels key to growth for SMEs. Payment infrastructures and payment experiences emerged as one of the most critical points of e-commerce experiences.

A survey by PYMNTS, which focuses on payment systems, found that 7 out of 10 consumers leave their shopping cart on an e-commerce site at checkout. The CEO of PayBull, a payment service provider offering solutions such as Virtual POS, Receive Payment with Link and Mobile POS for SMBs, shared his evaluations on the subject.


As e-commerce sites and marketplaces have become the center of the shopping experience, the payment experience has become one of the strongest competitive tools. The PYMNTS report found that 9 out of 10 people choose the suppliers they shop from based on their checkout experience. On the other hand, the report showed that good payment experiences again convinced 9 out of 10 people to buy again.

Retailers, those who sell online, those who start e-commerce prefer the Virtual POS solution of payment service companies to receive payments online. While data from the Presidential Finance Office shows that there are 255 financial technology companies operating in the vertical payments industry, choosing the right payment infrastructure for SMBs is becoming increasingly difficult.


So, what should e-commerce merchants and SMEs look for when choosing an online payment infrastructure? Let’s look at it one by one:

• Installment option: Solutions like Virtual POS should make it possible to receive payments from all debit and credit cards and even offer installment options, without having to deal with banks one by one. At the moment, the installment option for various card programs stands out as the area where SMEs should pay the most attention.

• Simple installation, easy integration: Virtual POS solutions, which communicate with global card schemes and banks through Application Programming Interfaces (API), provide API documentation in an understandable manner and the advantage of easy integration with various e-commerce infrastructures such as WordPress, Magento, OpenCart, PrestaShop, Joomla is the reason for preference. Online payment infrastructures, which are easy to install, offer SMEs an advantage to start e-commerce safely and quickly.

• Commission rates: Virtual POS and online payment service providers charge commissions from SMEs in different models and rates in exchange for service. At this point, SMEs should turn to brands that offer the most appropriate commissions on the market.

• Dealer Collections: It is recommended that SMEs, which work with a dealer structure and have several branches in several locations, check whether their chosen payment service provider has a suitable solution for this need, so that they can manage their dealer collections more easily and quickly.

• Different products: Options such as Pay with Link and Subscription Management, which use the virtual POS infrastructure, stand out as different products that take the customer experience to the next level. SMEs are advised to offer their customers as many payment alternatives as possible.

Omer Sefa goes


It is very important for SMEs to take into account their current or future needs when choosing payment service providers and to avoid additional costs in the future.

For example, retailers who run both a physical store and an e-commerce store can take advantage of solutions such as Mobile POS that allow them to turn Android phones into POS devices that can receive contactless payments from all cards and send e-invoices to customers.

Finally, for SMEs looking for a business partner to entrust their online payment processes, it is important that potential candidates are a payment service company authorized by the Central Bank of the Republic of Turkey and that they have certificates such as PCI-DSS, which is considered the worldwide standard in payment, in terms of security.

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