Gala Technology’s SOTpay Takes the E-Commerce World by Storm, Dramatically Reducing Cart Abandonment Rates

Gala Technology’s SOTpay Takes the E-Commerce World by Storm, Dramatically Reducing Cart Abandonment Rates

10:10 26 July in Member News
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In the fast-paced world of online shopping, the phrase “window shopping” has evolved into its digital counterpart – “cart abandonment.” In 2022, the average shopping cart abandonment rate soared to a staggering 78.1% across various industries, leaving retailers and business owners wondering how they can combat this disheartening trend. Let’s delve into the reasons behind this phenomenon and how Gala Technology’s innovative SOTpay is revolutionising the payment landscape.

The year 2022 witnessed a significant rise in shopping cart abandonment, with an average rate of 78.1%. A Statista report revealed that customers left their carts behind across eighteen industries, dealing a heavy blow to businesses’ bottom lines. Among the most affected sectors were cruise and ferry, mobile providers, airlines, luxury, and fashion. This alarming trend compelled businesses to rethink their strategies and adopt innovative solutions to reverse the tide.

Amidst the shopping cart abandonment dilemma, Gala Technology stepped in with a game-changing solution – SOTpay. Through meticulous research and advanced technology, Gala Technology has achieved an astounding 97% success rate in typical card payment transactions. But that’s not all! When both card and opening banking payment options are presented, this success rate skyrockets to an incredible 99%. Such remarkable conversion rates can transform any business’s revenue stream.

Jason Mace, CEO of Gala Technology, expressed his excitement about SOTpay’s impact on businesses, stating, “At Gala Technology, we strive to deliver cutting-edge solutions that empower businesses to thrive in the digital landscape. SOTpay’s success rate is unparalleled, and it’s our commitment to driving positive change for our clients and their customers.”

Companies today are waking up to the realisation that diversifying their payment channels is key to reducing shopping cart abandonment. With Gala Technology’s SOTpay, businesses can seamlessly accept payments through phone, SMS, email, WhatsApp, live chat, and all social media channels. This level of flexibility empowers customers to choose their preferred and most comfortable and convenient way of contact and thereby increasing the likelihood of successful transactions.

Chris Evans, Business Development Manager at Gala Technology, emphasised the significance of multi-channel payments, stating, “SOTpay’s ability to offer a range of payment options is a game-changer for businesses. It allows them to cater to customers’ preferences, which ultimately boosts customer satisfaction and loyalty.”

Gala Technology’s SOTpay offers a powerful and customisable single interface for managing both card and open banking payments. This streamlined approach simplifies the payment process for customers and enhances their overall shopping experience. With just a few clicks, customers can complete their purchases without any hassle, reducing the chances of cart abandonment.

The SOTpay experience is all about intelligence, efficiency, and convenience. Gala Technology’s revolutionary platform optimises payment requests to ensure a frictionless checkout process. Faster payment processing, secure transactions, and real-time tracking of the payment journey create a higher percentage of successful transactions. Businesses using SOTpay are witnessing a remarkable turnaround in their revenue streams, all thanks to this cutting-edge technology.

The 78.1% average shopping cart abandonment rate in 2022 is undoubtedly a wake-up call for businesses across industries. Gala Technology’s SOTpay provides the much-needed solution to combat this challenge. By offering a seamless, secure, and multi-channel payment experience, SOTpay ensures higher conversion rates and increased revenue for businesses.

Embrace SOTpay today and witness the transformation in your payment success rates. Don’t let shopping carts be abandoned; take charge of your business’s success!

To learn more about SOTpay visit the website click here

Kieran Bridges

kieran.bridges@brchamber.co.uk
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