Payment Fields Best Practices: Capture Lost Revenue
Blog post from Basis Theory
Digital transactions account for an estimated 36% to 50% of payments worldwide, yet many checkout experiences remain fragmented, confusing, and inefficient, contributing to lost revenue for businesses. Research from the Baymard Institute indicates that poor user experience may cause up to 17% of online cart abandonment, while a 2022 Forrester report estimated that checkout-related UX issues cost businesses as much as $2.8 trillion annually in lost sales. Effective payment flows should prioritize simple and familiar interfaces, fast completion with minimal distractions, strong security protections, flexible support for preferred payment methods, and transparent pricing and instructions. The material promotes a visual Payments UX Best Practices guide featuring retailer examples and practical improvements intended to increase conversion rates and revenue.
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