The scourge of cart abandonment
Shopping cart abandonment is one of the biggest challenges facing e-tailers. By 2024, almost 70% of online shopping baskets will never be finalized.
Why is this? Barriers such as high cost, lack of flexibility and the absence of suitable payment options discourage buyers. What if a simple solution such as payment in instalments could reverse the trend?
The main reasons for shopping cart abandonment
- Too high a price: Customers are reluctant to spend a large sum in one go.
- Lack of payment options: Traditional solutions (credit card or bank transfer) are no longer sufficient.
- A complex payment experience: Friction in the process causes customers to give up.
Payment in instalments: a key lever for reducing abandonment
- Making purchases affordable:
With a split-payment option, customers can spread out their spending without compromising their budget. This makes even expensive items more affordable. - Reduce the psychological barrier:
A €500 basket may seem daunting. Divided into 3 times €167, it suddenly becomes more acceptable. - Improve immediate conversion:
Customers no longer need to "think later" about their purchase. A flexible solution encourages them to finalize their order immediately. - Building trust:
Offering payment in instalments shows that your company understands consumers' needs and adapts to them.
Numbers that speak for themselves
- 70.19% of online shopping baskets are abandoned, according to the Baymard Institute. The main reasons include high costs and lack of payment flexibility.
- 43% of Europeans regularly use fractional payments, according to a study by FLOA and Kantar, up 8 points in one year.
- 60% of consumers believe that the availability of flexible payments influences their choice of retailer, according to a study by Oney.
- Sites offering split payments can expect an average 20-30% increase in their conversion rate, according to an article by BNP Paribas.
- 75% of customers for high-end (luxury) products prefer staggered payment options to facilitate their purchases (source: Klarna).
Multi-installment payment integration with Easytransac
Easytransac simplifies the integration of this solution on your e-commerce site. With a fluid, rapid process, your customers can opt for payment in instalments as soon as their shopping cart has been validated.
- Easy installation via modules compatible with all major CMS (OpenCart, prestashop, shopify, WooCommerce, etc.).
- Flexible terms: choose 2, 3 or even 4 monthly payments to suit your needs.
- Payment tracking: a comprehensive dashboard for easy transaction management.
To summarize
Invest in flexibility to boost your sales. Paying in instalments is not just a trend, but a necessity to meet the expectations of modern consumers. Offer this option today and turn abandoned shopping baskets into successful sales.
Who we are
With more than 60,000 customers, Easytransac capitalizes on a decade of expertise in various payment solutions (distance selling, ecommerce, convenience selling, cashless, mobile payment...).
Easytransac is at the forefront of innovation in the ecosystem of electronic payments and hybrid and cashless solutions that meet the requirements of e-tailers, event professionals and SMEs.
Our platform simplifies transactions and enriches the user experience, thanks to an intuitive interface and real-time tracking, while ensuring security at every payment.
Got a project in mind? Don't wait any longer! Contact our teams by email at contact@easytransac.com or by phone on 09 72 12 99 48.
