Stored Payment

​Over the weekend, I made 2 purchases on Amazon; one from my laptop (at home) and the other from my phone (at one of my kids’ swim meets). In both cases, the checkout process was quick and easy. Amazon is unique in the fact that they do not give you the option to enter payment information at checkout. Instead, payment information is stored under the Manage Payment Options under Your Account. That concept is brilliant! Once your stored payment information is established, every time you checkout it is a snap! The Amazon checkout is stupidly simple. Think about the last time you purchased something online. Was it stupidly simple?

​Now lets talk about this from the perspective of an association’s e-commerce website. Of course, we all want that Amazon-like experience. A major step in achieving that experience would be to implement the stored payment concept for your constituents. Give your constituents an easy place where they can manage their stored payment information on the association’s website, as well as the ability to checkout using that stored payment method. By adding stored payment methods to your website, you are removing barriers that sometimes get in the way of your constituents purchasing something, and you are giving them a more Amazon-like experience.

Buy Now

​If you don’t already have stored payment functionality on your association’s website, here are seven reasons why you should consider adding it today:

  1. Remove barriers – I stated this above. In my opinion, it is the #1 reason an association would want to offer the option to save payment information. The sole purpose of this functionality is to make the checkout process more simple. It seems like such a straightforward concept to get your mind around. Requiring your constituents to always enter their credit card information for every online purchase with the association is a barrier. Removing any barriers to a purchase would be a huge win for the association – success!
  2. Increased speed – Stored payment information gives your constituents a quicker and easier checkout experience! What’s not to love about that? We all love quicker and easier. Think about the old saying, Time is Money. Your association’s constituents value their time (don’t we all?). Having a faster online checkout process will only make your constituents happier. Happier constituents will most likely translate to their return to the association’s website for future purchases. 
  3. Convenience – In today’s fast-paced life, we all appreciate anything that becomes convenient. Providing your constituents with the ability to store payment information, for an easier and speedier checkout experience, is definitely a convenience. No matter how you say it, not having to pull out your wallet or purse to find your credit card and reenter all of the payment details (for the umpteenth time) is a huge convenience. 
  4. Improved user experienceSimplicity is king! Adding the ability to checkout with already existing stored payment information optimizes the checkout process. Having this improved user experience could be the difference between a new order and an abandoned cart. Regardless of the device (mobile, tablet, laptop, or desktop) your constituent is using, this improvement will make it easier for them to checkout. 
  5. Trusted and secure – It is an accepted practice today to store your payment information on a website you trust. I trust Amazon, so I have no problem storing my payment information for all of the benefits listed here. Your constituents go to the association’s website and purchase things because you are trusted in their eyes. You are the industry expert for them, or the top resource for their profession. Your constituents 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 with your constituents. 
  6. Engaged 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 love you and to be engaged with you. Offering your constituents the option to store their payment information for future purchases means they won’t have to keep repeating the time-consuming process of continuously entering their payment details every time they stop by the association’s website. You are not only building engagement with your constituents, but you are also fostering your next repeat customer.
  7. Increased retention – Stored payment information gives your constituents 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 (recurring, installment, etc.) your association can take advantage of. Not only can your constituents join or renew with the association as a member, but they can also opt in to using that stored payment information for a scheduling of future-facing recurring payments. You have now made it even easier for your constituent to retain their membership with the easiest payment options – all leveraging the stored payment information they have on their account.

​I ask you to take a minute and go to some of your favorite e-commerce websites. See how many of them offer the ability to store payment information. Take stock of how stored payment functionality on those sites help to expedite the checkout process to purchase a product, pay a bill, book an airline ticket, or reserve a hotel room. Then go back to your association’s website and consider how adding stored payment information can help and benefit your association’s constituents. Everyone wants an easier and more convenient checkout process! And your constituents will love you for it.