The Hidden Truth Behind the Kibo Eclipse Review!

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Kibo Eclipse Review

In recent years, the business landscape has changed rapidly, bringing with it a new era in the field of payments with a focus on the customer experience as a key factor. As e-commerce continues to grow, a strong platform is crucial, according to Sander Martins, President of Aden Payment Solutions in the Middle East. During the discussion, it was revealed that the appropriate infrastructure for payments is characterized by its ability to generate more revenue and give retailers a competitive advantage through electronic payments.

According to Kibo Eclipse, online retail faces challenges in growing in any business environment, especially in logistics of distribution and marketing to serve customers and the expansion of new channels and markets.

To create more opportunities and increase profits for e-commerce companies, he identified a set of steps to activate digital payment platforms.

Checkout Process Made Easy

Using an attractive checkout page design, customers reach the stage of pressing the "buy" button; and entering their payment details before completing the purchase transaction. Unfortunately, an online shopping survey found that 86% of respondents abandoned their cart due to inconvenient checkout procedures before completing the transaction.

A poorly designed checkout page or a lack of adequate or appropriate checkout options may cause shoppers to abandon the purchase. Facilitating the payment transaction ensures that customers come back to shop again and again.

Local Payment Methods Increase Purchases

Various companies expanded their overseas operations. However, before companies launch local shopping sites and set up entities in new markets, they must consider ways to pay shoppers internationally.

Many potential customers do not have global credit cards and prefer local payment methods, such as online banking, open billing, and e-wallets. Therefore, it becomes necessary for companies to deal with a payment provider that can provide local payment methods in the country or region so that the consumer does not have to cancel the transaction due to an inability to use the correct payment method. For example, in the Middle East, Saudi Arabian shoppers used to use made cards, but in Egypt, people prefer to use feature cards or instant accounts as payment methods.

Recognize Regular Customers and Prevent Fraud

Fraud risks increase with the expansion of a business. Through the use of data, loyal customers can be protected from scammers. In a survey conducted by Edgar Dunn & Company (EDC), 24% of companies reported that more than 10% of transactions initially dismissed as fraudulent were actual payments coming from their customers. Likely, customers who have experienced "fake indications" of the valid payments they attempted will not return to shopping later because they do not feel welcomed.

A strong defense can be formed by using multiple tools like 3DS for security to counter different types of fraud. It is important for a good risk management system to integrate different tactics, including fraud detection technology, supervised machine learning algorithms, customizable settings, and testing and experimentation. In turn, this may reduce the risk of banning actual customers rather than scammers.

Payments Must Be Processed as Quickly as Possible

Credit cards make the majority of retailer payments. So, it must be allowed without hindrance, and traders must have the right to control it and view all transactions. Kibo Eclipse Review's latest retail report indicates that 25% of rejected transactions do not have valid reasons.

Consider a scenario where the payment service provider does not provide acceptance and takeover services but instead relies on a partner. A valid reason for the refusal may be challenging to determine in that case. It is essential to work with a payment provider that ensures proper payments are accepted while also controlling the acquisition and acceptance services and informing the merchant of the reasons for rejecting other transactions.

Analyze Customer Behavior Using Data-rich Insights

Retailers can view payments and customer behavior comprehensively when all payment data from all devices, channels, and marketplaces are available on a single platform. As a result, they can learn detailed information about their customers' preferences, enabling them to target specific segments and strengthen the relationship with existing customers.

A retailer can then measure the impact of adding a new store on e-commerce sales, identifying groups of online shoppers to determine where to open a new store and the percentage of overseas customers.

Payments can also be a valuable tool for increasing revenues and overall business development and lowering operating costs. With payments being a necessary and costly requirement, they have become a key factor in creating a seamless and integrated shopping experience.

Customers' requirements became smoothness, speed, and orderly transactions on demand. Customers, therefore, demand more payment methods that meet their needs. Today, the focus is on customer acquisition and retention, so now is the time for retailers to offer their customers advanced payment experiences.