How to speed up the checkout process [and close more sales] using autofill and stored accounts
Ask for less, and they’ll buy more.
That’s the mantra that should be on repeat for all eCommerce merchants in 2019.
To set you on the path to massive sales, we started by showing you how to streamline the checkout process with a one-page checkout. But that’s only one way to cut down on lost sales.
Autofill your customer's payment information for a faster checkout
It’s doesn’t matter if you have a one-page checkout or a five-page checkout if the information you’re asking your customers for is the same.
Most people already know the standard information required of them. Unless you’ve just moved, you probably know what your address is off by heart. But the next step in your customer's check-out journey is to enter their credit card information, and only 19% of online shoppers have their primary credit card information memorized.
By allowing your customers to autofill their payment information, they can check out in just a few seconds, as opposed to the few minutes it would take to enter credit card information each time.
Example of stored credit cards using Bold Cashier.
Even brick-and-mortar stores are offering this service using Square!
Store payment information securely using Bold Cashier
As we talked about above, one of the best ways to speed up the checkout process is by storing your customer's payment information. And one of the easiest ways to do that, regardless of what platform you're on, is with Bold Cashier.
Using Stored Accounts, a tick-box will appear under your customers payment information, giving your customers the choice to save their payment information on your store. The next time a customer checks out, all they'll have to do is choose their previously-used credit card number from a drop-down menu in the payment section, and all their information will automatically populate.
Bold Cashier offers your customers the option to remember their credit card information.
Your customer's information is securely stored: Data security is a top priority for Bold, and we're heavily invested in ensuring we're PCI, DSS, and GDPR compliant to protect both you and your customers. It's important to note that Bold does not store the credit card information ourselves, but is vaulted through your preferred payment gateway.
On the customer front, they’ll be assured of their privacy with the ability to add/delete their information at any time, with the requirement to opt in to Stored Accounts before any information is retained, and only the last four digits of their credit cards being displayed on the storefront (as seen above).
Autofill customer information: Shopify Pay vs. Bold Cashier
If your store is on Shopify, you're probably aware of Shopify Pay. It allows store owners the option to store customer payment information for use in the checkout similar to Stored Accounts, but with the addition of saving both shipping and billing information.
The main difference: With Shopify Pay, your customers have the additional step of authorizing their purchase with a 6-digit code that's sent to them in a text message. With Bold Cashier, your customers simply choose their credit card from a drop down list, and they're onto the next step.
We know that any additional steps added to the checkout process can increase cart abandonment by 28%, so the requirement of that extra step could have a direct impact on your revenue.
Enabling stored credit cards: BigCommerce vs. Bold Cashier
If your store is on BigCommerce, you have the option to not only store your customer's payment information (like you would with Bold Cashier), but the added ability to store both shipping and billing details as well.
The main difference: To enable these features on BigCommerce, your store must be on a Plus plan or higher, you must be using a one page checkout, and you only have the choice of four payment gateways. With Bold Cashier, you can be on any plan, use any checkout you like, and have the option to choose from over 16 payment gateways.
A checkout designed for high-growth merchants
We've gone through the advantages of Stored Accounts when using Bold Cashier, but that's just the tip of the iceberg when it comes to helping your store scale. Take a look at some of the premium features above which are built right in to Cashier and are available on any platform, or read more about:
- Upgrading your loyalty program: Allowing customers to use their loyalty points as cash while checking-out.
- Optimizing your checkout: Create a multi-page or one-page checkout with branded urls.
- High-converting upsells: Offer upsells and cross-sells not only on your product pages and during the checkout process, but after a customer checks out on your store.
- Multi-currency billing: Let your customers shop and PAY in their local currency with no additional credit card fees.
Have you optimized your checkout using Bold Cashier? Include a link to your store below!