Identity theft and fraud is a serious issue. According to the 2017 Identity Fraud Study from Javelin Strategy & Research, “Cyber criminals successfully hit a record 15.4 million Americans in 2016 — up 16 percent from 2015.” In total, this resulted in $16 billion stolen from victims.
So it’s easy to see why people are a little skittish about online payment processing. If you offer online payment, you could potentially drive would-be clients away without some type of confirmation of secure processing.
So what’s the solution? It’s simple. Install a trust seal.
The Power of a Trust Seal
Econsultancy/Toluna conducted a survey where they asked respondents which factors mattered most when deciding whether or not to trust a website.
Here are the results:
- The site displays trustmarks to reassure shoppers – 48 percent said this was a factor
- The site displays a clear contact number and address details – 46.35 percent
- A friend, colleague or family member has used the site – 40.7 percent
- The site looks professional and well designed – 32.2 percent
- The site contains well known brands/products 24.1 percent
- It loads quickly and works well – 23.65 percent
What do this data tell us? It lets us know that a trust seal is the number one most important factor. Above all else, this is what your clients will turn to when deciding whether or not they trust your site.
ConversionXL is one of the world’s leading companies in conversion optimization. In one of their studies, they used eye-tracking to determine the general pattern that peoples’ eyes followed when arriving on a checkout page. To keep their data as objective as possible, they used six different trust seals from notable companies such as Norton, McAfee, PayPal and so on.
Here’s what they found:
As you can see, participants’ eyes all followed a similar pattern proving that the trust seal is indeed very important.
Which Trust Seal is Most Trusted?
You’re now probably wondering if some trust seals are more trusted than others. In other words, which company should you go through?
According to the Baymard Group, the most trusted are McAfee SECURE, TRUSTe and The Better Business Bureau (BBB). The reason for these preferences is likely because all of these companies have developed a strong brand identity with logos that many people recognize.
You’ll definitely want to keep this in mind when choosing a company, and you don’t want to use a trust seal from some obscure, no name brand that no one’s ever heard of.
How it Works
Here’s the basic process involved with installing a trust seal.
- You pick a company
- You choose a specific plan that fits your needs and budget
- They will perform testing on your website to determine its payment processing security and overall security level
- Assuming it passes their test, you can then install a trust seal on your checkout page
Establishing trust has never been more important than it is today. Many clients are apprehensive when it comes to payment processing and want to be assured that their financial information is safe. You can quell their fears and streamline the online checkout process by installing a trust seal.
For more information, check out the following resources: