Important Guidelines for online payment gateway

Self-identity is a constant human struggle. It starts in childhood and then adapts in teenage years as we strive to establish who we are and how we stand out from other people. Yet at the same time, we have a real need to be accepted by others, to fit in. This leads to a conflict between the need to be individual and the need to be part of a group. Buying things can help resolve this tension. When we buy something we like it is often because we associate it with the kind of person we are. At the same time, the things we possess are like parts of our personality "uniform," acting as symbolic references to the kind of person we are and the kinds of groups with which we want to associate.

Consider Apple’s iPhone. Research has discovered that application of online payment people who display higher levels of extroversion in personality tests are more likely to own such a Smartphone. Companies that sell smart phones have used psychographic profiling so that they can match the person in the shop to the kind of phone they are most likely to desire. While the iPhone is a huge commercial success, you might be surprised to learn that most people do not actually want one. Indeed, in one study only one in three people in America wanted to get an iPhone.

The remaining two-thirds are not attracted to the phone because it does not match their personality. Not only do they prefer a different kind of phone, they don’t need to be seen as part of the "iPhone club." However, people who do want to be part of that club – as part of their identity – simply "must" have an iPhone. It is a badge, a symbol that confirms "I am part of this tech-savvy group." When people feel part of a group, they feel better about themselves.

All of these factors mean that if your online shop focuses on people’s wants, rather than needs, you are likely to gain additional sales. Amazon, for instance, does this using its recommendations system to provide customers with lists of things they are bound to like because they are similar to their previous purchases. Much of the time we are not shopping for ourselves but on behalf of someone else. How many times have you been on your way out and your partner says, "While you are in town can you get…?" Family members can ask us, but so too can neighbors, friends, or work colleagues.

For retailers this can be incredibly frustrating. A customer meets a particular profile, so they know the kind of person they are dealing with, their habits and interests; then suddenly a particular customer buys something completely out of character. That’s because they’re not buying the item for themselves. This problem is exacerbated online, where it isn’t possible to ask why a certain item has been purchased.

In a workshop I was running recently for a group of chief executives of medium-sized businesses, I was discussing the ability of a retailer such as Amazon to customize and personalize web pages of payment gateway with exactly the kinds of things each customer is interested in buying. Amazon does this with "cookies," small text files on your computer that help the site know who you are when you log in. Your identity can be matched with your purchasing patterns and your use of the website to provide suggested items. However, as the chief executives pointed out to me, this only works if you use Amazon solely for personal purchases.

As soon as you start to buy presents or use the site to order for the needs of other members of your family, the recommendations Amazon makes become less personal. The system cannot account for the fact that you may be buying on someone else’s behalf rather than for yourself, and the usual psychological hooks retailers might be able to apply, such as trying to trigger desire, will simply not work.

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