The Ultimate Guide to Setting Up an Ecommerce Carts & Payments

Did you know that in Australia, up to 80% of customers are lost between “Add to Cart” and purchase completion? Three of the top reasons? A complicated or lengthy checkout process, insufficient payment methods, or concerns about payment security.

So, you’ve launched your business, now it’s time to perfect that customer journey. Don’t lose your customers at ‘add to cart’. From selecting the shopping cart software to the right payment gateway, these all play a vital role in your customers’ experience.

Uncover our 8 tip guide to setting up an ecommerce shopping cart and payment processor. Explore the features and benefits available to enhance your online store. Choose the right shopping cart software to streamline your checkout process. Understanding how the online shopping payment system works is crucial before deciding on the best shopping cart. Different shopping carts offer integrations with different payment providers.

At Eway, we sometimes find customers set up a shopping cart without investigating their payment service provider, or payment provider, first. This can lead to disappointment if they can’t sign up with their preferred provider, forcing them to search for another shopping cart and redo their work. It’s a bit of a chicken-and-egg situation.

To avoid this, let’s jump into Eway’s 8 tips on setting up an ecommerce shopping cart and payment processor!

1. Platform power, choose wisely:

Choose an ecommerce platform you’re comfortable with, considering factors like adding new products, updates, edits, and maintenance.

Shopify: User-friendly with a wide range of apps and themes. Great for beginners, with everything built-in – website and ecommerce functionality.
Woo: Customisable yet more technical. A powerful plugin for WordPress websites.
BigCommerce: Scalable, with built-in features and strong SEO capabilities.
Squarespace: Known for its beautiful designs and user-friendly interface.

Pick what fits your needs and tech skill level, depending on whether you’ll be managing this yourself or hiring someone to do it.

2. Shopping cart simplicity:

Based on your ecommerce platform, your shopping cart is the next step. Crucially, ensure it’s compatible with both your platform and your preferred payment provider – check these two

aspects simultaneously! When selecting your shopping cart, keep the design clean and intuitive.

Key features: Show shipping costs upfront, offer guest checkout, and display security badges to build trust.
Streamline checkout: Ensure the checkout process is simple and easy. Remember, a complicated or lengthy checkout process is a top reason for cart abandonment.

3. Payment processor compatibility:

Once you’ve chosen your platform and a compatible shopping cart, you can select a payment provider service that integrates seamlessly with both. It’s helpful to understand what payment providers look for when assessing a business. They typically conduct evaluations to determine potential risks and suitability.

Here are key factors payment gateway providers, including Eway, may consider:

Business type: They assess the nature of the business, including the industry and the products or services offered, to determine if they align with the payment provider’s policies and risk appetite.
Business model: Payment providers examine the business model to understand how payments are processed, whether subscriptions or one-time payments, and any unique aspects that may impact risk.
Compliance and regulations: As a financial services application, all businesses are required to comply with relevant laws and regulations, such as Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) and Know Your Customer (KYC) requirements.
Customer base: Understanding the target market and customer demographics helps providers assess the potential for fraud and the overall risk associated with the business.
Risk profile: Payment providers evaluate the risk level associated with the business, including any history of chargebacks, fraud, or regulatory compliance issues.
Transaction volume: They look at the expected transaction volume and value to understand the scale of operations and potential revenue from processing payments.
Online presence: For e-commerce businesses, providers may review the business’s website and online reputation, including customer reviews and social media presence, to assess credibility.
Previous merchant history: If applicable, they look at the business’s history with other payment processors to identify any past issues or concerns.
Financial stability: Depending on the risk presented, payment providers may review the business’s financial history, including revenue, credit score, and bank statements, to gauge its financial health and ability to manage payments.
Technical and fraud prevention capabilities: They assess the business’s technical infrastructure and ability to integrate payment solutions effectively, including fraud prevention measures, into their existing systems.

These assessments help payment providers mitigate risks and ensure they are partnering with businesses that meet their criteria for processing payments effectively and securely. So knowing it is not guaranteed that your payment provider of choice will accept your business particularly if you may be deemed risky is good to be aware of upfront

4. Payment options for everyone:

Offer a wide range of payment options beyond just Visa and Mastercard.

Increase flexibility: Include debit cards, digital wallets (Apple Pay, Google Pay, Click to Pay), and PayPal.
Boost conversions: Catering to different customer preferences can significantly improve conversion rates and enhance customer satisfaction.

5. Mobile mastery, optimisation is a must:

A significant portion of online shopping happens on mobile devices.

Prioritise user-friendliness: Ensure your store is responsive across various devices, loads quickly on mobiles, and has easy-to-use navigation.
Reduce bounce rates: A user-friendly website is crucial. Many customers abandon websites that are difficult to navigate or have a cumbersome checkout process.

6. Test, test, test, and then test again:

Ensure smooth functionality: Thoroughly test different payment methods, check for errors, and use a test credit card to simulate real transactions before launch.

7. Security and fraud protection is non-negotiable:

Security is a major factor in customer trust and a key reason for cart abandonment. This tip is non-negotiable. Here are crucial security features:

HTTPS: Encrypts data transmitted between the shopper’s browser and your server. Look for the padlock icon and “HTTPS” in the website address bar.
PCI DSS compliance: Ensure your shopping cart integration and payment gateway are PCI DSS compliant.

Eway has the highest PCI compliance levels, certified with Level 1 PCI DSS compliance – the highest level of encryption available.

Tokenisation: Replaces sensitive credit card data with unique tokens, rendering it useless to hackers even if a breach occurs. Eway can also help with this.

Fraud protection: Eway offers a set of tools to set up and fine-tune your fraud protection.
3D Secure: Recommended additional layer of authentication for online payment transactions, reducing fraud risk.

8. Analyse and adapt:

Ecommerce shopping cart software can track, collect, and present data related to customer behaviour and sales. This information provides valuable insights for improving your ecommerce site. This includes analysing your payment gateway.

Utilise reporting tools: Eway provides a merchant portal that helps you easily track and report transactions, refunds, and delve into customer purchasing patterns.

Key takeaway:

Check with your chosen shopping cart and understand the payment providers they integrate with. Before committing to a shopping cart, research and apply with your preferred payment providers to ensure you can become a client. This avoids redoing work later.

At Eway, we have over 250+ integrations and pay-as-you-go pricing, so there are no upfront fees or hidden charges to worry about while you’re working through this phase.

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