User Experience and Electronic Payment Platforms

user experience

Electronic Payments Require a Seamless UX

The advent of the internet highlighted many things for business. It was a billboard for information, it was a tool for selling, it was a way to send an electronic payment or message and it was a way to see more of the world outside of our own offices easier and quicker than we ever had before. It was fascinating, exciting and all we could ever need . . . until users started wanting more. A pain point started to surface – audiences wanted more than what was presented. They wanted to be part of the interaction. They wanted an engagement. From this demand, entire teams of developers and designers began to focus on two things:

  1. UI Design:User Interface design refers to what we see when we visit a site — the look and feel. It is often considered the graphic design component because it provides the visual appeal of the website, but is responsible for much more including, display screens, keyboards, track pad or mouse and the appearance of a desktop. UI presents the initial sensory connection with the user.
  2. UX Design:User Experience design goes much deeper and refers to a person’s emotions and attitudes about using a website, application or service. The term was coined by cognitive scientist and former VP of Advanced Technology Group at Apple, Don Norman:

“I invented the term because I thought Human Interface and usability were too narrow: I wanted to cover all aspects of the person’s experience with a system, including industrial design, graphics, the interface, the physical interaction, and the manual.

Since then, the term has spread widely, so much so that it is starting to lose its meaning.”

— Don Norman

Suffice it to say, what we consider UX today is how fluid and easy the technology is to use. Meeting the needs of the customer or user with ease and simplicity is more important than ever and can make or break a company, especially where electronic payments are concerned. Amazon blazed a trail for ease of use in the electronic payment retail space by offering the option to save a card and going even further by offering “one click” check out. Today these features and functions are taken for granted and if the experience is not as easy, consumers are likely never to return. In the B2B space outside of the online retail environment, it is not necessarily that easy. B2B companies are still paying close attention to the same considerations that influence B2C UX strategies.

4 Considerations That Impact User Experience for B2B Payment Customers

  • The process they go through to discover the company’s product
  • The sequence of actions they take as they interact the interface
  • The thoughts and feelings that arise as they try to accomplish their task
  • The impressions they take away from the interaction as a whole

The user experience for companies like WEX, where the foundation of the business is financial, can be even more critical. Electronic AP solutions, payroll, and vendor payment all require seamless payment processing, which is why WEX prioritizes the user experience in every aspect of their business. They understand that user experience in payments translates to sales and customer loyalty, which keeps WEX constantly working to develop products and services that meet the exact needs of their clients with as much ease and security as possible.

AP Solutions Engage the User on Every Level

WEX Accounts Payable (AP) Solutions focus on enriching the buyer and supplier relationship by optimizing the payables process and moving to electronic payments. These AP payment solutions help organizations transition to safe, secure, electronic payments designed to lower cost, mitigate risk, and optimize discount administration and buyer/supplier collaboration. Not only is the focus on user experience pivotal in their business, the experience goes even further from functional online tools to the stability and security of the system behind the scenes. The benefits of ease and efficiency touch all aspects of the engagement including:

  • Reduce Cost: AP payment solutions reduce manual processing costs and improve invoice reconciliation by moving to electronic payments.
  • Streamline Process: The digital AP solution provides the ability to leverage a bank agnostic framework to streamline accounts payable payment execution.
  • Mitigate Risk: Increased control over AP payments helps mitigate risk of errors and potential fraud.
  • Generate Revenue: Achieve margin improvement and discount advantages from optimized payables, plus you earn revenue on spend processed through the program.

Trusting UX Design in Electronic Payments Builds Loyalty and Lasting Partnerships

Additionally, with any payment platform or system, the less clicks, the better —consolidation is key. For WEX, seamless payment integration provides simplicity and continuity for the user. WEX Integrated Payables solution works with any ERP (accounting) system, providing a seamless way to process payments, regardless of payment type. The bank agnostic platform is designed to provide complete transparency and accountability to all supplier payments including Virtual Account, ACH, and Check. The result is an effortless and complete user experience. In fact, the experience makes payments smarter by delivering greater visibility and powerful insights to help provide more meaningful value in every transaction.

In hindsight, the B2B customer is no different from the B2C customer where user experience is concerned. Both customers are human and require an easy and functional experience that they can trust. A focus on UX and UX design is essential in building lasting relationships and loyalty. Brand implementation through UX design is responsible for connecting to the customer’s emotion in ways that nothing else can. B2B business relies on the partnership that the user experience helps to nurture and build.

 

Resources:

https://designmodo.com/ux-credit-card-payment-form/

https://woocommerce.com/2016/03/payment-gateway-ux/

https://careerfoundry.com/en/blog/ux-design/the-difference-between-ux-and-ui-design-a-laymans-guide/

https://www.usertesting.com/blog/2016/04/27/ui-vs-ux/

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