Here are a selection of best practices you can follow to optimize conversion on your checkout flow.

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1. Safely allow high-risk transactions by enabling escrow

Escrow features only affect credit card conversion
Crossmint offers the highest credit card approval rate in the industry: a 95-98% approval rate, compared to 55% industry benchmark. To protect sellers against credit card fraud, Crossmint runs a proprietary anti-fraud algorithm that scores every prospective buyer, and determines whether they can purchase or not. On occasion, some payments flagged as risky may actually come from a legitimate buyer, if they were for example using an abnormal number of cards or purchasing from an unexpected location or VPN. Crossmint allows you to turn on an optional “escrow” feature, where certain high risk transactions will be allowed, but the user won’t receive their item until they complete a challenge post purchase. This usually increases conversion 1-2% on average.
Enabling escrow requires speaking to the Crossmint team or your assigned Customer Success Engineer.

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How does escrow work?

With escrow enabled, high-risk transactions go through a different flow. Crossmint will approve the transaction, but deposit the NFT in temporary custody until the buyer completes a quick, always automatic, verification process. This improves conversion while adding an extra step to only the riskiest transactions that would otherwise be blocked. Crossmint dynamically scales the challenge based on the riskiness of the buyer - for some, a simple email verification; for the riskiest buyers, a KYC verification. This ensures legitimate buyers can buy your NFTs, no matter their payment method, increasing your overall conversion.
You, the seller, get paid regardless of if the buyer fails the challenge. Crossmint takes the transaction risk and verification burden for you.
Escrow works on all collections created via Crossmint’s smart contracts. External collections, imported into Crossmint console, require manual review before enabling escrow, to ensure the NFT is transferable post purchase.

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2. Ensure your checkout has the right locale

Improper locales can significantly reduce conversion. Double check that your checkout is configured to work in the locales you have customers. You can manage the locale in your integrated checkout components, or your payment order objects.

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3. Choose the best payment methods

You may have data that shows your customers convert better with one payment method over another one. Customizing your checkout to feature these preferred payment methods by default is a good way to improve your conversion. Embedded Checkout - Set the default payment method as your customers most preferred one (i.e. Apple Pay, Sol, etc.) Headless Checkout - you have full control over your UI. Put the payment method your customers prefer as default option, and pre-fill as much information as you can.

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4. Further customize your checkout flow

You may know your customer very well, and what exactly increases conversion for them: large images, progress bars, loyalty point reward offers. Building these bespoke checkout experiences can increase your conversion. Embedded or headless checkout are more customizable checkout tools.