The PaymentsJournal Podcast

How Merchants Can Deliver an Effective Payments Experience


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Security is a top concern at checkout for many consumers. In a recent survey, TrueLayer spoke with 4,000 European shoppers and found that nearly two-thirds (64%) prioritised security over all other factors.



But there’s a limit to that cautiousness. Although businesses need to protect customers and foster trust,  some security measures can cause friction, which in turn can drive customers away.


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Finding the right balance can seem daunting. But without the proper measures in place, businesses risk losing customers to competitors that offer a much more seamless payments experience.



During a recent PaymentsJournal podcast, Michael Brown, Head of Commerce at TrueLayer, and Daniel Keyes, Senior Analyst of Merchant Services at Javelin Strategy & Research, discussed how merchants can make customers feel secure during the payments process, including the use of familiar logos to provide consistency and open banking solutions to reduce friction.






These are just a few of the ways merchants can better live up to their customers’ payment expectations. For more information, read TrueLayer’s latest report, The Payments Experience Playbook: what really matters to your customers.



Customers Want Security in Payments



Customers want to feel safe when making a purchase, and for the most part, consumers feel safe paying with brands they’re already familiar with. In many cases, smaller businesses struggle to establish that trust. One option is to leverage familiar and established payment methods.



“Using logos from well-known banks at checkout can make customers feel secure,” Brown said. “Since people often use these logos in their mobile banking apps, seeing them at checkout gives an extra sense of safety.”



Keyes also noted that recognisable logos help consumers know what to expect from a payment. “Paying on every single website is different, so any kind of consistency you can offer can really help w...
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The PaymentsJournal PodcastBy The PaymentsJournal Podcast