Did you know that over 1.2 billion people in India use smartphones? Over half of them use their smartphones to browse and shop online. Have you ever wondered why only half of them use e-commerce stores and purchase online? Well, we’ll tell you why!
A common problem that online shoppers face is billing and screening. So, how does an e-commerce business owner change that? The answer to that question is to create digital customer wallets on your e-commerce website. In this article, we will have a look at the importance of having a digital customer wallet on your e-commerce website and how you can start online store using Bikayi’s Advance E-Commerce features.
What is a Digital Wallet?
Have you ever taken a peek at your wallet? We’re pretty sure that as you glance inside your wallet now, you will see it crammed with debit and credit cards, bills and money. Well, what if we told you that you could help create an organised, easier and transparent online shopping experience for your customers? That’s precisely what a digital customer wallet essentially does.
A digital customer wallet, often known as a customer wallet, is similar to our physical wallets but exists virtually. With the wallet feature on your e commerce store, you can ensure quicker and safer transactions for your customers.
Why should you use Digital Wallets?
Now that we have understood the meaning of customer wallets let’s understand the reasons why you should integrate this feature into your online store.
One of the prime reasons customers dread shopping online is the safety and security issues associated with online payments. One of the easiest ways to avoid these security issues is by integrating a customer wallet in your e-commerce store. With Bikayi’s Customer Wallet feature, you can easily avoid all transaction-related threats.
With a customer wallet, every transaction is usually done based on tokenisation technology. The digital wallet ensures that transactions are made through a unified token technology. It generates a unique purchase code for every transaction, which loses its validity once the transaction is completed. This gives no room for any occurrence of mishaps or fraudulence.
Reduces Cart Abandonment
What if we told you that every product added to the cart by your customer would result in a purchase? Well, isn’t that a dream for every business owner? When you create a customer wallet on your online store, you simplify the shopping process for your customers. Most of the products that are usually left in the cart unpurchased are due to reasons such as a lengthy check-out process or too many steps during a purchase.
With a customer wallet, your customers can check out easily with products of their choice. They can directly purchase the product in a jiffy. This way, you can reduce your abandoned cart rate, which in turn translates to purchases.
Minimal Transaction Fees
With a digital customer wallet, you can reduce the transaction fees for your customers. With a customer wallet, you can issue a payment option of your own. It functions in a way similar to a gift card, but the only difference is that the customer wallet is digital, i.e. it is available virtually. With a customer wallet, you can completely reduce the transaction fees, which will further induce your customers to purchase more.
Want to Integrate a digital wallet into Your Online Store?
Understanding the need for digital customer wallets, it’s time for you to take a call and integrate customer wallets into your online store. Well, what are you waiting for? Reach out to our experts at bikayi and get our customer wallet feature set up in your online store within 90 seconds.