Why One-Click Checkout is Winning
Last month, big news broke of Shopify’s one-click checkout service, Shop Pay, becoming available to all merchants selling on Google, Facebook, and Instagram Shops.
This is game-changing news for our space. Here’s why:
- Cart abandonment is a huge challenge. Baymard Institute reports a 70% average cart abandonment rate, a figure calculated using 44 different cart abandonment studies.
- Although Amazon’s “Buy Now with 1-Click” patent expired four years ago, it gave them an 18-year head start. Now that the field is more level, competitors can finally catch up.
- Shopify reports a 1.72x higher conversion rate with Shop Pay versus regular checkout. For some merchants, this could take their sales from good to great overnight. 🙌
If your website isn’t already using a fast checkout solution, there’s no time like the present.
Here’s a guide to getting up and running fast.
Step 1: One-Click VS. Fast Checkout
Countless tools offer a faster customer checkout experience, making the distinctions a bit murky and the terminology confusing.
One-Click: Typically refers to a minimal checkout flow that usually requires a single click to buy. Also known as buy now, instant pay, or 1-click.
Fast Checkout: Often refers to a checkout flow with fewer required fields and pages than a standard checkout but requires multiple clicks. Also known as fast pay, quick pay, or express pay.
Step 2: Identify your platform and select a provider
A few things to consider before installing a one-click payment solution are your platform, tech compatibility, and level of effort for your development team.
Most tools let you scale as you grow larger, so it’s essential to choose the best option that matches your current needs.
Since most of our readers are on Shopify, the screens below walk you through how to find a good one-click checkout provider in the Shopify App Store.
- Navigate to the Shopify App Store and, using the spyglass at the top right, search for “one-click checkout.”
- Filter your results using the left sidebar and select how you prefer to sort the results.
- Identify the app that fits best with your business needs, and add the app.
Step 3: Installing One-Click Checkout
Assuming you’ve found the perfect app to install and matched it with your business requirements, you’ll simply follow the documentation for installation or hand this part off to an experienced Shopify developer.
Thanks to Shop Pay, merchants can now sell products with a single click across major advertising and social media platforms. 🤑