What Is Guest Checkout?
Any time someone makes a payment online, they must input details and information. There are usually two options: Create an account and log in with your credentials, or check out as a guest. The first option requires a person to register an account with a username and password. With an account, you can store information like names, contact details and credit cards.
However, many people don’t want to create one more account, as they find it intrusive or have security concerns. You can break down these barriers to paying online with guest checkout. It allows people to complete a transaction without an account. It’s typically faster and more convenient, and most people prefer it. According to a consumer survey, 43% of people prefer guest checkout, making it the most popular option.
For your advertisers, the ability to check out as a guest is critical in getting them to adopt electronic payments. You want to remove as much friction from the process as possible, so they find it easy and fast.
Let’s look at all the benefits of having guest checkout features.
Guest Checkout Has Many Benefits for You and Your Advertisers
In thinking about why checking out as a guest matters so much in electronic payments, you can look at several areas — adoption, accelerating payments, more options for what they can pay, and security.
It helps first-time users be comfortable.
While more businesses are making online payments, some are still reluctant. They may recognize its convenience and that it eliminates workflows associated with paper checks, but they may require a further nudge to adopt it. By offering guest checkout, you allow them to quickly remit payment in a secure environment without registering. You could see your electronic adoption rates increase as a result.
It can reduce days outstanding.
Decreasing days outstanding keeps your cash flow consistent and helps you avoid chasing advertisers for payment. Your customers may not have the intention of being slow to pay, but it’s a consequence of still managing payables by check. If you remind them and reinforce the ease of guest checkout, you could see a substantial reduction in the time between invoicing and payment. On average, advertisers and agencies pay 35% faster using electronic payments than non-electronic methods.
It offers customers the ability to pay multiple invoices.
Another advantage of guest checkout is that advertisers can remit payment due for more than the current invoice. They have the option to pay their current invoice as well as any other past-due balances. This again contributes to improving your cash flow.
It’s a secure process.
Guest checkout is just as secure as payment through an account login. Our solution, PayNow, is a Level 1 PCI service provider, which is the highest level of compliance. It’s a secure environment to process credit card payments; you can advise your customers of this to boost their confidence in the security of making payments using this convenient feature.
Guest Checkout and So Much More with PayNow
PayNow is a comprehensive, turn-key electronic payment solution that offers guest checkout along with a suite of impactful features. The advertiser portal is intuitive for your customers to process credit card and ACH payments. The platform also streamlines workflows from payment to funding and integrates with your traffic system. Plus, transparent flat-rate processing fees protect your profits and ensure you understand fees.
You can see how it works in minutes by requesting a demo.