Are your payments costing your
Evening Standard|February 12, 2024
From a small South London flat to over 85,000 customers globally, bank payments provider GoCardless is on a mission to show businesses that there's a better way to manage their payments
Are your payments costing your

If someone asked you the total cost of managing your business's payments, how confident are you that your response would reflect the true overall figure? What factors spring to mind when trying to calculate it? Transaction fees seem like a natural starting point as they are the most visible and measurable cost.

But there are many other less-obvious costs associated with processing payments that, if left unmanaged, will only continue to grow. To assess the real cost that managing payments has on your business, you need to account for operational costs as well as payment-related issues.'

The hidden costs of payments

You may not have realised it, but how you collect payments has a direct impact on customer conversion and retention rates.

GoCardless and YouGov ran a payer preference survey, finding that 69% of payers abandon a checkout if it seems too complex, while 45% would abandon if required to manually enter details. So if potential customers have to suffer through an inconsistent or tedious payment process, they might look elsewhere.

هذه القصة مأخوذة من طبعة February 12, 2024 من Evening Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة February 12, 2024 من Evening Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من EVENING STANDARD مشاهدة الكل
Why are England wasting time waiting for Tuchel?
The London Standard

Why are England wasting time waiting for Tuchel?

Winning the World Cup is the aim, so the new boss should start now

time-read
3 mins  |
November 14, 2024
He's been shot, and punched by Mike Tyson, but British boxing's great survivor is back on top and aiming to rule the world
The London Standard

He's been shot, and punched by Mike Tyson, but British boxing's great survivor is back on top and aiming to rule the world

This is where the magic happens,\" reads a big neon sign scrawled across the entrance to the offices of arguably the most powerful man in British boxing today.

time-read
7 mins  |
November 14, 2024
How Sketch went from 'obscene' to era-defining
The London Standard

How Sketch went from 'obscene' to era-defining

After arocky start, the glamorous and infamous restaurant is now an institution

time-read
4 mins  |
November 14, 2024
Money is worth less than time'
The London Standard

Money is worth less than time'

He's quit Fendi, but what will Kim Jones do next?

time-read
4 mins  |
November 14, 2024
London's Roman Amphitheatre
The London Standard

London's Roman Amphitheatre

Guildhall Yard, EC2V

time-read
3 mins  |
November 14, 2024
Liberals didn't notice they'd lost relevance in the all-consuming digital sphere
The London Standard

Liberals didn't notice they'd lost relevance in the all-consuming digital sphere

There are many reasons why Donald Trump might have won the election last week.

time-read
2 mins  |
November 14, 2024
Do we have to die?
The London Standard

Do we have to die?

One neuroscientist thinks the answer is no

time-read
4 mins  |
November 14, 2024
The London Standard

How to have a magical Christmas in Edinburgh

From cosy cobblestone streets to abundant Yuletide goings-on, few cities rival the Scottish capital in creating Christmas whimsy.

time-read
2 mins  |
November 14, 2024
London's best festive restaurants
The London Standard

London's best festive restaurants

The social season is upon us once more. These are the city’s most coveted Christmas venues, which need to be booked soon so as to not miss out on the tinsel and tipples.

time-read
2 mins  |
November 14, 2024
Rag'n'Bone Man
The London Standard

Rag'n'Bone Man

I struggle with being recognised... I'll never really feel comfortable with it'

time-read
6 mins  |
November 14, 2024