Consumers want online shopping to feel effortless every step of the way—from how they browse to how they pay. Here's how simplifying the mobile checkout experience gets more shoppers over the finish line.
With mobile commerce sales in the US set to more than double by 2025, it's safe to say our phones will continue to play a major role in how we shop for years to come.
Consumers already reach for their phones to make purchases on the go or while they're browsing in-stores. And now, with the rising adoption of mobile payment options, they're increasingly using their phones as digital wallets, too.
The overall shopping experience has evolved to be better for consumers as they move from one stage of the journey (consideration) to the next (purchase). Still, it's not uncommon for people shopping online to spend time adding items to their cart, only to leave it behind instead of completing their purchase. Nearly 70% of online shopping carts are abandoned for one reason or another.
While many consumers fill their online carts as a form of window shopping, others end up not checking out because it’s inconvenient for them to do so. Either the checkout process is too long and complicated (17%), or there aren't enough payment options (9%).
Making the checkout process faster and easier for shoppers, whether they’re on desktop or mobile, can help solve the cart abandonment problem. One way to do this, if you're an e-commerce retailer, is with accelerated checkout options like Shop Pay.
Keep reading for a breakdown of what Shop Pay is, why your e-commerce store should offer it (even if you don’t use Shopify), and how to meet consumers' expectations for a seamless checkout experience.
What is Shop Pay?
Shop Pay is Shopify's accelerated checkout and one-click payment solution. It lets customers securely save their contact, shipping, and payment information, so they don’t have to enter it every time they buy something online.
It also gives customers flexible payment options. They can choose to pay in full at checkout, or use Shop Pay Installments to buy now and pay later (BNPL).
Shop Pay makes the checkout process faster and easier for online shoppers, so they’re more likely to convert
Like other express checkout solutions, Shop Pay reduces the number of fields a customer has to fill out when making online purchases.
After someone uses Shop Pay for the first time, their information is saved, and they won’t have to enter it again the next time they check out—even if they’re shopping with a different brand— as long as the consumer uses Shop Pay and the merchant accepts it. Instead, they’ll just need to enter the 6-digit verification code they receive via SMS or email. From there, Shop Pay will instantly fill in the information necessary to complete the purchase, including their email address or phone number, credit card details, and billing and shipping addresses.
The time saved makes a difference: With Shop Pay, merchants get a 4x faster checkout experience and an 11% higher conversion than other accelerated checkouts.
If you've ever used your phone to do a little online shopping, you're probably familiar with how tedious it can be to type everything out using the smaller screen and keyboard. Faster checkouts, especially on mobile, deliver the kind of simple buying experience that consumers expect.
Consumers expect a seamless checkout experience. But what does that mean?
As mobile shopping has become a common practice for consumers, convenience has emerged as their top priority. They want the whole shopping experience to feel effortless, which explains why 70% of consumers would prefer one single app that combines shopping, payments, and post-purchase activities like order tracking.
Many payment providers are bringing this kind of multifunctionality to consumers. Shop Pay is part of the Shop app, which tracks orders placed with Shop Pay, organizes receipts, and has a customized feed with deals and recommendations.
Apple recently introduced Apple Pay Later—a BNPL service like Klarna, Affirm, or Shop Pay Installments—which allows shoppers to split the cost of an Apple Pay purchase into four equal payments. The iOS 16 update will also let users track orders and view receipts directly in their digital wallets.
In other words, a seamless checkout is all about convenience.
Speed and simplicity define convenience for consumers
There are a lot of reasons someone might choose to shop online instead of going to a physical store. Access to virtually every brand. The freedom to comparison shop and find the best price. Buying what they need from the comfort of their own home and then having it delivered right to their doorstep with a few clicks.
Take all the advantages of online shopping and add in the ability to do everything on your phone, from anywhere, and it makes sense that 68% of consumers opt to shop on their mobile devices because it saves them time.
But being able to navigate the entire shopping journey in one place—and then pay quickly without getting out a credit card or typing in their address—ups the convenience factor for consumers. They prefer it precisely because it's simple: they don't have to create an account or manually enter their personal and banking information multiple times. Instead, everything is ready to go when they're ready to buy.
And, for retailers, it removes those major roadblocks that typically lead to cart abandonment.
When it’s time to pay, consumers want easy options
For over 76% of consumers, convenience is synonymous with an easy payment process. But consumers also have more payment options to choose from than ever before between credit cards, apps, and BNPL—and every shopper has their preferred method.
For retailers, allowing people to pay how they want to pay can help remove friction from the buying journey, and specifically, from the checkout process.
Optionality is a key aspect of convenience. If someone wants to use a credit card, they can still easily do that. But alternate payment methods like Shop Pay need to be an option, too. If they’re not, a customer might change their mind about checking out altogether.
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