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The way we shop online has been changing since the beginning of the eCommerce explosion. Let's dive into something pretty ‘cool’ that's been quietly changing the way we buy stuff online – embedded payments. Basically, it’s the catalyst for all impulse buyers, everywhere.
So, why should you care? Well, think about all those times you've almost bought something but got frustrated with the checkout process. Having to enter half a million things before getting to the end, at which point a pop-up arrives to tell you that you missed a ‘0’ in your number and you have to go back to the start. It’s a pain, so embedded payments cut out all that hassle. They let you complete your purchase without bouncing around different websites or filling out a bunch of forms. It's conventional high street shopping without the high street - it's shopping made easier.
Here's Why We Think It's Cool:
- No More Checkout Headaches: Did you know that embedded payments can reduce checkout abandonment rates by up to 80%? With embedded payments, you stay in the zone, so you can breeze through your purchase without any annoying distractions. It's like having a personal shopper in your pocket.
- Fewer Abandoned Carts: We've all been guilty of loading up our carts and then bailing at the last minute (sometimes we do it just to dream). But, with embedded payments, lots of those abandoned carts are becoming a thing of the past. Studies show that businesses using embedded payments have seen a 30% decrease in cart abandonment rates on average. I must admit though, if I press ‘checkout’ on my Amazon basket I might go bankrupt.
- Shopping Without Interruptions: 60% of consumers prefer to make purchases directly within an app rather than being redirected to a website. Embedded payments give you a quick, simple self-checkout on the go.
- Shop Anywhere, Anytime (provided you have WiFi): With embedded payments, the world is your oyster. Whether you're chilling at home, on your daily commute, or hanging out with friends, you can shop whenever and wherever you want. Did you know that mobile shopping now accounts for over 50% of all eCommerce transactions? As long as you’re not climbing Everest, it's 24/7 retail therapy on your terms.
- Peace of Mind: You’re not going out, so you won’t get mugged. You also don’t need to worry about fraud, as embedded payments have you covered. With top-notch security measures in place, you and your payment info stay safe and sound.
So, there you have it – embedded payments are the unsung heroes of online shopping, making our lives simpler, our digital experiences smoother and our wallets lighter. Whether you're treating yourself to a little splurge or picking out the perfect gift for a friend, embedded payments are here to make your shopping adventures a whole lot more enjoyable and productive.
Keep an eye on our LinkedIn, as we'll be posting some more information about the world of embedded payments including some insights into the top players in the space!
