How would you rank your association’s membership process? Is it easy to buy products at your e-commerce site? With stored payment information, it can be!
With stored payment information, you can offer your members and constituents an Amazon-like e-commerce experience. When you leverage the right association management software (AMS) you can give your members a secure place to manage their stored payment information and easily checkout.
By adding stored payment options to your association, you will remove the barriers that can get in the way of your members renewing or making purchases. Read our blog to learn more tips to add stored payments to your e-commerce experience.
What are stored payments?
Stored payments refer to when your members or constituents securely save payment information on your e-commerce website. Using stored payment information is an easy and secure way for members to streamline shopping.
According to McKinsey research, 9/10 consumers say they have used some form of digital or stored payment option, with payment networks like Visa and Mastercard leading in consumer trust. Tech firms like Amazon, Apple, PayPal are narrowing the gap.
The 7 benefits of stored payment information
If you don’t already have stored payment functionality on your association’s website, here are the top seven reasons why you should consider adding it today:
1. It removes barriers
The main reason your association would want to offer stored payment options is to simplify the checkout process. Requiring your members and constituents to always enter their credit card information for every online purchase is a barrier. Removing any barriers for a purchase would be a huge win for your association.
2. Because it’s quick and easy
Stored payment information gives your constituents a quicker and easier checkout experience. Think about the old saying, “time is money.” Your association’s members and constituents value their time. (Don’t we all?)
Having a faster online e-commerce experience will make your constituents happier. Happier members and constituents will make it more likely they’ll return for future purchases.
3. It improves the member experience
Simplicity is vital. Adding the ability to checkout with already existing stored payment information optimizes the checkout process. Improving the member experience can be the difference between a new purchase and an abandoned cart—according to the latest Community Brands research, using technology improves the member experience.
Regardless of the device your constituent is using to renew their membership or make a purchase, this improvement will make it easier for them to checkout.
4. It increases member retention
Stored payment information gives you greater depth of payment options not only for today, but also for the future. Establishing stored payment information is the foundation for a wide variety of additional customer-centric scheduled payments including auto-renewal, recurring, installed payments, and more.
Members can join or renew with your association, and they can also opt in to use their stored payment information for scheduling future-facing recurring payments for subscriptions, publications, journals, and more.
5. It streamlines payments
Stored payments are convenient, making the checkout experience easier and speedier. With Digital Wallet options like Apple Pay and Google Pay, your association can further streamline your e-commerce experience.
Last month 45.5 million Americans used Apple Pay for at least one transaction. Now Nimble AMS makes it easy to offer Apple Pay and Google Pay transactions to reach more members and constituents.
6. It engages customers
Engaged customers are a huge asset for any organization. Associations are no different. If you bring your constituents to an e-commerce website that provides simple, convenient, and speedy checkout offerings, it’s just one more reason for your constituents to engage with your association.
Offering your constituents the option to store their payment information for future purchases means they won’t have to keep entering their payment details every time they stop by your association’s website. You are not only building engagement with your constituents, but you’re also fostering your next repeat customer.
7. It’s trusted and secure
Your constituents go to your website because you’re an industry expert or a top resource for their profession. Your members will have that same trust in conjunction with saving their payment information to their account on the association’s website. They will know that their information is stored securely and PCI compliant. You have built that trust.
