U.S.-based Retailers Can Now Use This New Solution to Increase Checkout Speed

AUSTIN, TX, UNITED STATES, September 12, 2024 /EINPresswire.com/ -- Bold Commerce, the headless checkout company for leading omnichannel retailers and DTC brands, today announced its latest work with PayPal (NASDAQ: PYPL) to make Fastlane by PayPal available to retailers on Adobe Commerce (Magento).

Bold Checkout’s Magento extension is the easiest way for U.S.-based retailers to get Fastlane by PayPal, enabling them to integrate the accelerated checkout experience on top of their existing technology instead of needing to replatform. Adobe Commerce (Magento) retailers on any instance can now implement Fastlane by PayPal in less than 30 minutes [1]. Early results of Fastlane have shown shoppers are able to speed through guest checkout 32% faster, and shoppers with Fastlane profiles have shown to convert at approximately 80% [2].

Consumers’ expectations for quick and convenient experiences are growing and checkout is no exception, with 66% of shoppers [3] expecting to get through checkout in less than four minutes. But for guest shoppers, or those who have never shopped with a brand before, the checkout experience typically requires the creation of a new account and manual entry of checkout details like shipping address and payment method. With 82% of shoppers not completing a purchase because of complicated account registration [4], brands have an opportunity to drive conversion by mirroring guest experiences to those of returning customers.

Together, Bold and PayPal can now power retailers, on any Magento instance, to accelerate checkout experiences for returning customers and guest shoppers. With Fastlane, brands can now offer an accelerated checkout solution for consumers without the risk, cost or complexity of replatforming. Magento merchants on any instance can install Bold’s Magento extension. This allows brands to easily recognize shoppers and their preferences–including shipping and payment details–even if the consumer has never shopped with a brand before.

For example, when a shopper is identified as a Fastlane user at checkout anywhere Fastlane is enabled, all of their necessary payment, billing and shipping information are automatically pre-filled to speed through checkout. New shoppers that are not recognized as Fastlane users can checkout as guests and opt-in to save their information to their Fastlane profile after making a purchase, accelerating future checkouts and eliminating the need to create a retailer account.

“Consumers today want shopping experiences that are quick, curated and simple, and it’s no secret that they’ll leave their cart unpurchased if checkout takes too long or is complex. But for many retailers, offering those experiences can be challenging,” said David Bruce, SVP North America Small Business, PayPal. “With Bold, we’re expanding Fastlane by PayPal’s accelerated checkout capabilities to retailers that have previously been limited in the experiences they offer shoppers to increase conversion and retailer growth, and to Magento users who want to quickly and easily implement Fastlane by PayPal.”

Bold is the only provider of Fastlane by PayPal for all versions of Adobe Commerce (Magento) platform. U.S. retailers on Adobe Commerce (Magento) can now connect to Fastlane by PayPal by integrating PayPal Complete Payments through Bold Checkout. There is no fee for brands to utilize Payment Booster to connect to Fastlane and brands can be onboarded in under half an hour. Fastlane transactions will incur a fee through PayPal.

“Every retailer should have the opportunity to deliver the seamless shopping experiences that consumers want – and need – to convert, no matter what ecommerce platform they’re built on,” said Peter Karpas, CEO of Bold Commerce. “Through this new work with PayPal, we’re giving U.S. retailers the ability to not only increase the speed of checkout, but increase average order value, build relationships with customers and drive conversion.”

This collaboration further expands Bold’s work with PayPal. In 2023, PayPal worked with Bold Commerce to enter the headless commerce market and enable retailers to use Bold’s headless checkout suite together with PayPal Complete Payments to accept PayPal’s full line up of payment options including PayPal, Venmo, PayPal Pay Later solutions, and credit and debit cards. Bold also collaborated with PayPal to create a headless checkout integration with Magento Open Source and Adobe Commerce to allow brands using these platforms to elevate checkout experiences without replatforming.

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About Bold Commerce
Bold Commerce is in the business of making checkout better, helping brands convert more shoppers in more places. Bold Checkout is the only high-converting, customizable headless checkout with built in subscriptions and pricing capabilities, for a checkout without limits. Leading omnichannel retailers and emerging DTC brands like Vera Bradley, Harry Rosen, and Staples Canada, trust Bold to overcome legacy platform limitations, improve checkout conversion and deliver anywhere commerce.

[1] Based on PayPal internal data from April 3 to June 15, 2024. Comparing Fastlane accelerated shoppers vs. non accelerated shoppers for merchants that have integrated Fastlane.
[2] Based on Bold Commerce internal data from June to June 15, 2024.
[3] Based on Capterra consumer research from March 2022.
[4] Based on Capterra consumer research from March 2022.

Kieran Powell
Bold Commerce
kieran.powell@channelvmedia.com
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