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One-Click Checkout is Changing How Shoppers Make Purchases
Do you know what the checkout process on your site is like? How many form fields are your customers required to fill out? Do you allow users to checkout as a guest, or do they have to create an account? How up front are you when it comes to fees?
Every one of these factors — and more — contribute to how well your site converts.
In fact, 17% of shoppers abandoned their carts because the checkout process was too long or complicated, 24% of shoppers abandoned their carts because the site wanted them to create an account and 48% abandoned their carts because of hidden fees or costs.
An unoptimized checkout experience can spell disaster for your ecommerce site. And with so many variables influencing whether or not a shopper converts, it can be challenging to create a quick and efficient process.
Luckily, new technologies have emerged in recent years that allow shoppers to checkout on a site with only a few clicks. Chief among them is one-click checkout.
Rethinking the Checkout Experience
For years, the checkout process remained the same. There were no major advancements or changes to the process except for the methods of payment shoppers could use. Over the last few years, there has been a revolution happening in checkout, which has turned the world of ecommerce on its head.
Options like buy now, pay later (BNPL) and buy online, pickup in-store (BOPIS) have taken the ecommerce world by storm.
Shoppers don’t just want convenience; they expect it. That’s where one-click checkout comes in. One-click takes the process of creating an account on each individual store and filling out endless form fields and turns it into a simple, repeatable process.
What is one-click checkout?
When you imagine an ecommerce checkout experience, you probably see a number of form fields, like your name, shipping and credit card information. This process may be several pages long, requiring shoppers to click through a lengthy group of forms just to end up clicking ‘Buy’ five minutes after they clicked ‘Checkout’ in their cart.
One-click checkout throws all of that out the window. With just one click (OK, maybe two or three in some instances, but the sentiment remains the same), users can fill out their checkout information and purchase a product without ever having to create an account or fill out lengthy forms.
How does one-click checkout work?
While each one-click checkout provider works slightly differently than the next, they all retain the same basic functionality. Shoppers store their information in the provider’s secure network, and then that network uploads their payment information when it comes time to checkout on a site. That means a customer only has to input their information once.
It’s all the convenience of an account-based checkout experience without having to create an account on every single site they purchase from.
Why does one-click checkout matter?
When it comes to ecommerce, convenience is key. Take a look at the statistics mentioned at the beginning of this article. The thread that ties them together is efficiency. Customers don’t want to spend hours (an exaggeration) on checkout alone. One-click technologies offer a simple solution that puts customer experience at the forefront.
At BigCommerce, we understand the value of customer experience to an ecommerce site. Our platform integrates with over 55 different payment gateways and a variety of one-click payment options to give merchants the ability to offer quick, convenient checkout to their customers.
One such one-click payment method is one you’ve probably heard of before: Bolt.
Bolt One-Click Checkout
What is Bolt?
Bolt is a one-click checkout provider used by over 10 million shoppers across the world. When using Bolt, shoppers only have to create one account.
From there, they can use their Bolt account across a vast network of merchants, from clothing brands like TYLER’S to food and beverage brands like Spiceology.
With their one-click solution, there’s no need to log in over and over again or input billing data and payment methods everywhere you go. If you shop within Bolt’s network, checkout is a breeze.
Why use Bolt?
Bolt’s approach to checkout is far from ordinary. Rather than just acting as a payment processor, Bolt has created a network of shoppers and merchants that use their product. That means that shoppers can view, access and checkout on a site even if they’ve never visited a storefront before.
Bolt isn’t limited to just website checkout, either. Their team has created a product that allows merchants to turn nearly any digital platform into a one-click experience, from social feeds to apps and more.
This technology has made Bolt a major player in the payment field. They project adding over 100 million shoppers to their already massive Bolt network in the next 18 months.
What sets Bolt apart from the competition?
One-click technology is far from new. In fact, there are plenty of providers that offer one-click payment, like Amazon, Apple and PayPal. What makes Bolt stand out is its unique network of merchants and shoppers. The Bolt Network gives individuals a seamless path to purchase, from discovery to checkout. This means less friction, and less friction means less abandoned carts.
From a merchant perspective, Bolt offers a variety of features that stand out. Its unique approach to login means that, although users aren’t directly logging into an account on your storefront, they can still opt-in to create an account. Bolt boasts a 60% post-adoption registration rate for customers. The frictionless path to purchase that Bolt offers also means higher conversion rates — 50% higher, to be exact — than with guest checkout shoppers.
The Final Word
There’s no doubt that consumer expectations have changed drastically over the past few years. Efficiency, convenience and ease are now top of mind during every interaction, especially when it comes to checkout.
If a checkout process is too long or complicated, you could be losing customers for life. That’s why it’s important to use tools that can help improve flow and make checkout as frictionless as possible. One of the easiest ways to do this is by implementing one-click checkout. While there are a number of providers that offer this technology, Bolt stands out from the competition by providing a unique experience for shoppers and a safe, secure network for merchants to work with their customers.
Want to learn more about Bolt One-Click Checkout for BigCommerce? Head to their partner page for more information.
Reed Hartman is a Content Marketing Manager at BigCommerce, where he uses his years of research, writing and marketing experience to help inform and educate business owners on all things ecommerce.