Checkout Platform Fast Tackles Cart Abandonment With This One-Two Punch

The answer to your online store’s biggest problem is literally a click away.

By Jason Boyd, Freelance Writer and Marketer

The answer to your online store’s biggest problem is literally a click away.

Seven out of 10 shoppers abandon their online shopping cart, and it costs e-commerce stores at least $4.6 trillion a year in lost revenue. Why?

Most shoppers blame lengthy checkout flows that include adding items to a cart that they’re ready to buy — only to spend the next few minutes filling out countless form fields just to complete the checkout. In other words, the more intimidating the checkout process, the more likely shoppers are to simply abandon their carts.

So what is the solution ?

online payment company Quick makes shopping online faster and easier for consumers with Fast payment, its one-click checkout button that shortens the shopping experience from minutes to seconds. Fast removes the need for customers to remember passwords or re-enter their information every time they want to buy something.

It is a simple one-click payment solution currently available in 35 countries and supporting over 100 currencies.

“I don’t know anyone who likes to type in their name, address and payment information every time they want to buy something,” said Calanthia Mei, vice president and head of partnerships at Fast. “While there is no shortage of expedited checkout products, Fast offers a true one-click checkout experience. When you click the button, within seconds the order is complete. That’s it. It’s an invaluable asset for shoppers, and they reward merchants for providing that convenience.”

Product detail page checkout

Merchants can place Fast’s checkout button anywhere on their site, but the most popular place is the product detail page. This way, shoppers can simply click Fast Checkout when they’re ready to buy and skip the tedious “add to cart” step altogether.

When a customer uses Fast Checkout for the first time, they go through a traditional checkout experience:

  • Enter the information (name, e-mail address, telephone number, card number and delivery address).
  • Select a shipping option.
  • Click Complete Purchase.

But after the first purchase, customers never have to re-enter their information. And that means the next time the customer clicks Fast Checkout elsewhere, the experience will be completely streamlined. Instantly, their order is placed.

“The benefit of the product detail page is that you give shoppers the ability to purchase something when their interest is at its peak, right on the product page,” Mei said. “When someone knows what they want and they are ready to buy, they should have the opportunity to do so without any obstacles.”

Bulk order

If customers can purchase an item quickly without going through the traditional checkout process, how might that affect sellers? Single-item, one-click purchases are convenient for shoppers, but some sellers worry about paying multiple transaction fees and lowering their average order value (AOV) – the average amount a customer spends each time they shop. he visits an online store.

Rapid solves these problems with the grouping of orders. Order bundling occurs when multiple orders placed by the same buyer are combined into a single transaction.

Here’s an example: A shopper makes a one-click purchase, then sees another item they like, buys it, then buys another, and so on. All such orders placed within five minutes of each other are combined into a single transaction.

“It’s a command for sellers in the backend,” Mei said. “One shipping cost. One package. For sellers, that means average order value increases while shipping costs stay low.”

The only other platform that has both of these features is Amazon, but they use a closed environment that sellers must join to access its features. Fast takes a different approach: providing a one-click solution directly to the seller. Fast Checkout can be installed on any online store and works on all devices, platforms and browsers.

Being so widely available, Fast brings its one-click payment to the entire internet.

“We believe sellers of all sizes should have access to this experience,” Mei said. “We believe shoppers should be able to check anywhere at the point of inspiration.”