eCommerce firm Bold Commerce has launched a new checkout solution designed to give brands an alternative to third-party digital wallets and pay now options.
Dubbed the “Bold Checkout: Buy Now solution,” this tool lets brands offer customers “Amazon-like one-click functionality directly from their owned channels, without sacrificing shopper relationships or checkout customizations,” the company said in a news release Tuesday (Feb. 8).
Bold Commerce says that while solutions such as Google Pay and PayPal let shoppers checkout faster, “they introduce fragmented experiences and require brands to hand off their shoppers at the most critical moment in their shopping journey.”
In addition, brands that opt for these solutions have to sacrifice features that customers value and that are important to their business model, such as in-store pickup or the ability to collect loyalty points.
Bold Checkout says its Buy Now tool lets brands offer quick payments to get shoppers through checkout faster without sacrificing customer loyalty, brand or nuanced business requirements. Brands own the entire checkout experience and maintain full control over the customer relationship during and following purchase.
Brands currently working with Bold Commerce include Vera Bradley, Harry Rosen, Staples Canada, Pepsi and Mars Petcare.
“Today brands have one checkout experience through their eCommerce platform, and it’s costly and complex to change,” said Yvan Boisjoli, CEO and co-founder of Bold Commerce. “Without the ability to improve, shoppers dropping off during the checkout process is a big contributor to the 70% cart abandonment rate experienced by brands industry-wide.
“Our one click solution demonstrates that it’s possible for retailers to both streamline the shopper’s checkout process and completely customize the entire customer journey.”
Streamlining that process is crucial, as PYMNTS research has found.
Consumers are spending a much longer time shopping before entering the checkout, which suggests they’ll have less patience for friction at checkout.
Our survey found that 60% of shoppers were willing to go with another merchant if they can’t pay with their preferred payment method.