Following the articles we have covered in frictionless checkouts, taking a deeper dive into Digital Wallet payments such as Amazon Pay, Google pay, Apple Pay and others which are alternatives to Credit Card payment processing adds value to your online store. This means that marketplace customers which have a digital wallet ready to use, can come into your store and skip the cumbersome credit card number entries and at times verifications that take place for the security and authentication of the user. This means that just with a few clicks, the checkout with address and payment is seamless, making your checkout experience frictionless for the Digital Wallet customer.
Statistical User Experience
48% of cart abandonment is due to Shipping and Taxes being outside of their budgets. 24% were forced to create an account caused the abandonment and for 17% the checkout process is too cumbersome. With Amazon Pay, you are looking at over 200million Amazon Prime subscribers, and when one of these visits your online store, they will be delighted to see the Amazon Pay button available. Here we are addressing the 17% issue of cart abandonment, while the other two larger issues can be addressed via promotional "free shipping" with a minimum order value, or guest checkout funnels, digital wallets are at the core of the checkout.
User-centric Payment Processing Services
Amazon Pay has been demonstrated to be 49% faster than standard checkout experiences according to a 2021 PYMNTS.com report. This means that Amazon Pay extends to a digital wallet account that can be accessed through the Amazon Pay App, and that Amazon customers can easily manage their payments. This follows in the footsteps of PayPal with greater simplicity and ease of use. With 100's of millions of customers seeing the Amazon Pay Button, the trust factor is increased, the payment brand is recognized, and sets expectations of an online store experience be mature and frictionless.
With merchants enjoying the Amazon customer-accepted payments coming in, there are other benefits behind the scenes outside of the credit card issuer verifications and bank account transfers taking place. The safety and security which are pre-validated by the end user before arriving at your online store pre-qualifies the visitor as they visit and add-to-basket to purchase their goods.
- Amazon Pay uses the same fraud prevention and security methods used on Amazon's marketplace - which adds a standard of security to the merchant.
- Amazon pay offers an A-Z guarantee which gives users peace of mind when purchasing from 3rd parties offering the Amazon Pay digital wallet checkout.
- When merchants meet all the Amazon pay policy requirements, the merchant is protected from chargebacks and disputes. This is significant for merchants since financial institutions put the vendors at risk when a customer initiates a chargeback, or credit card fraud has taken place on the online store.
- Amazon Pay gives payment gateways an asynchronous method to process payment resulting in a lower decline rate for larger purchases all the while not increasing the probability of fraudulent purchases. This is important for higher-value goods and when used in a business purchase setting, instead of using a business credit card, the Amazon Pay method will make it easier on both sides of the online store.
Scaling and growing
Amazon MCF (Multi-Channel Fulfillment), provides a shipment process that shoppers trust from Amazon.com and is offered to 3rd party vendors. Much like Shopify Shop where the service for Shipping, Tracking, and managing your orders provides an after-sales service, Amazon provides a continuity experience from Amazon Pay. Amazon MCF offers competitive pricing, especially when it comes to their warehousing and last-mile delivery in comparison to 3rd Party Logistics companies.
Easy to use for merchants
Amazon Pay's account service and technical support are available to assist with the integration of the Amazon Pay Button to be available in your store. The Amazon Pay API integration is usually just a marketplace App selection and account configuration away. This can be found in Shopify, BigCommerce, and other eCommerce platform payment methods.
Having Amazon Pay in the Flyout cart
For the best user experience, adding to your basket and checking your totals in the flyout cart is quick and easy. If your flyout cart shows shipping and taxes and can even take your discount coupons, that is all a user needs to make a snap decision on checking out. With Amazon Pay as an option at the bottom of the flyout cart, it is one click away from taking that basket and completing the order. Why funnel the user through several more pages when they can checkout at any time during the purchase experience? If a user is shopping while loitering on a moving train and is coming up to their stop, click Amazon Pay and go!
Amazon Pay is growing in adoption, same with the growth of Amazon Prime and Amazon services. Every online store should be considering how they can make their checkouts more frictionless with digital wallet payments, which reduces card transactions and make the process pre-qualified and easy for the customer and the merchant. With the consumer using a mobile device more often than a desktop PC, shopping on-the-go is now becoming the norm, much like a multi-tasking activity. Amazon Pay simplifies the checkout and gives greater confidence for a higher conversion rate - don't miss out, and get your Amazon Pay button. If you need assistance in getting it set up, feel free to reach out to us at email@example.com