All You Need To Know About Shopify Pay

A prospective buyer searches for a product of his choice online. He finds one at a very competitive price at some ecommerce website. He reads the product description, checks out its features, zooms in and out of the images and watches the intro video. In order to be doubly sure, he scans through the reviews too. Being upbeat with the deal he is about to crack, he clicks on the “Buy Now” button.

He finally lands on a checkout page asking for a plethora of information. Dreading to undergo the cumbersome process of filling in the details and considering that the whole process will take a lot of time, the buyer quickly abandons his cart and leaves.

Unsurprisingly, this is not just a one-off incident. In fact, one of the major reasons people abandon their shopping cart is because often the checkout processes are too complicated and frustrating.

What is Shopify Pay?

Shopify Pay is a specially designed payment option that simplifies and speeds up a checkout process. In other words, it is a fast and secure way of making payments at any Shopify Store. To one’s surprise, Shopify Pay makes the overall process of placing an order almost 40% faster.

It allows buyers to finish off a purchase in seconds by entering a six-digit verification code they receive on their mobile phones. Since Shopify Pay ensures that customers’ private information is stored on Shopify’s PCI (Payment Card Industry)-compliant servers, it offers a safe payment option.

How Does Shopify Pay Work?

First, buyers fill in their information including shipping address and payment details. They are then given an option to save their information with Shopify Pay. If they agree, Shopify Pay saves their information.

Next time they buy anything from any store powered by Shopify, they would just need to type their email address and that is it. A six-digit code will be sent directly to their mobile phone via an SMS and by simply keying in this number, Shopify will automatically fill in their shipment details and payment options and can complete their purchase with a single tap or click.

Those stores that have started using Shopify Pay have witnessed a 18% increase in their conversion rate in the case of returning customers.

 To conclude, besides saving the precious time for a buyer, by sparing them from the hassle of entering credit card details and endless other details, Shopify Pay also spares merchants the trouble of setting up a third party payment provider on their website. Empirical evidences proves that Shopify Pay boosts conversion rate and is absolutely secure. It is time to integrate it into your Shopify Store!