The best place to put the promo code field is the subject of a lot of debate in eCommerce circles. Most sites require one for allowing users to redeem offers and
sometimes to run their voucher/credit note system, so not having one at all is rarely an option.
Plenty of articles will tell you that when a user sees a promo code field they will be inspired to go searching for a discount, which could risk them not returning to your site. Whilst it's hard to find research proving this, the sheer prevalence of voucher code websites and tools for finding discounts, show that people love to use them.
To play it safe it's best to keep the field fairly small or hidden by default. You want users who have a code and are looking for the field to be able to find it, but it not to interrupt people who haven't considered it.
It's also best to put the promo code field at the very start of the checkout process or in the basket itself. This is because you want users to see that they can use their discount. If it's hidden away on the payment step then some users will assume there isn't the option and will leave frustrated.
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