Updated: 01/11/2017 14:15
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payza new year updates
Learn the latest news from Payza to prepare for the new tax season, analyze your SCAR rate, importance to have a good shopping cart for successful sales
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Learn the latest news from Payza to prepare for the new tax season, analyze your SCAR rate, importance to have a good shopping cart for successful sales

Since the start of the year Payza managed to release three major updates, each of which seems to touch upon important aspects of the industry and the impact they may have upon the development of the payment system. On January 3 the article telling about the preparations needed to be done for the new Tax season. The best way to avoid unnecessary stress when filing your taxes is to have all your revenue and expenses available in a clear and organized setup. So Payza gives detailed overview of how you can access your transaction history from your account and have important tax information at your fingertips. All you need to know about the ways to review and download the detailed transaction history, the explanation of what the 1099-K form is, can be read in the article.

On January 5 Payza journalists stressed upon the problem of high abandonment rate among the persons adding products to shopping carts of online stores. According to Baymard, the average shopping cart abandonment rate is 68.81%, more than two-thirds of all customers. If your online store can get consumers to the checkout but they don't seal the deal, your products and website are not the problems; it's probably your shopping cart.

The article provides detailed information on how to know what Shopping Cart Abandonment Rate (SCAR) you possess by making simple calculations, using Google Analytics. According to Business Insider, the biggest cause of shopping cart abandonment is lengthy and/or complicated checkout forms that require customers to enter both personal and payment information. The article tells about the importance of applying the checkout forms that would allow one-two click purchases. The closer you can get to a single click, the more sales you'll close. You also need to be sure your prices shown in the store online are transparent enough. Try to avoid adding unexpected costs during the checkout process. Hidden fees, shipping costs, and taxes are the main sources of sticker-shock price increases. Free shipping goes a long way towards lowering your SCAR. Following your Shopping Cart Audit, you can now evaluate whether your chosen shopping cart module is best for your needs.

And once again the Payza officials remind customers to take advantage from using the New Payza Business Manual as a guide for processing online payments. You can consult the manual whenever you like.
See the Payza Business Manual for details

The manual has been organized into easy to navigate sections to help you when submitting customer support inquiries. If you encounter difficulties managing your payments, simply indicate the section in the guide you are experiencing difficulties with when you submit a customer support ticket.

About the author

Brett Sherpan has been working for seven years writing and editing for online and print media. He has held various editing and copywriting positions and can quickly and competently write copy for sales, marketing and editorial content. Brett is a consistently dependable team player, who thrives in a high-pressure environment, enjoying the challenges of meeting deadlines and am comfortable researching, writing and editing on a wide range of topics
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