The group payment function is activated by default in your Yourpay account. It can be found in the App Store in Pay By Group.
You have one important customization option. It is the “Window for purchase to complete” — the length of time during which you will allow a group to exist before you must receive payment to fulfill the order.
- You may vary this setting from as little as 2 hours to as long as 5 days
- It is set to 24 hours by default
- We recommend using the longest window that works for your business because that will give you the greatest increase in conversions
For example, if you are a seller with rapidly expiring inventory, such as tickets for an in-demand concert, we would recommend having a short window of 2 hours.
You may receive a completed payment much sooner than that, but that is the longest window during which you will still honor the order for certain.
However, if your business is selling bulk orders of t-shirts and you are able to fulfill most in a reasonable time after they are confirmed as paid, then you should set the window to 5 days.
If your e-commerce platform is set to automatically cancel orders that have a pending payment for longer than X amount of time, be sure to either:
- disable that feature
- make the length before the automatic cancel occurs greater than or equal to the completion window you set for group payments.
Website Banners to Increase Conversion with Group Payments
When you make customers aware of your group payment option early in their journey on your site, you will maximize your overall conversion rate.
Making customers aware that you offer group payments is critical to keeping them from leaving your website. Each user that bounces today because they are splitting the cost and need payment or approval before making a purchase – and each user that does not have sufficient funds available and needs assistance from friends or family. So do not let them get away, but show them that you now offer a solution to their problem.
They will stay on your site and buy from you. because you cater to their needs.
To ensure customers know you offer group payments early in their experience on your site, we have a wide array of standard-size banners you can put on your site. Of course, you are also welcome to create your own that matches your site’s styling.
Online retail banners