Last editedNov 20223 min read
When it comes to online checkout, every second matters. The more fields a customer is required to fill out, the higher the chances that they’ll give up on the purchase. As shopping carts are abandoned, your conversion rates fall accordingly. Using a 1-click checkout offers an elegant solution to this problem – but what are the specific benefits of one-click checkout and how does it work? Here’s how to eliminate those unnecessary extra steps at checkout.
What is 1-click checkout?
A fast one-click checkout, as the name suggests, allows customers to make a purchase with a single click. They can fill up their shopping cart at your online store or mobile app, before completing the purchase with a single tap or swipe.
For one-click checkout to work, customers will need to provide their payment details to the payment processor. These only need to be provided the first time they make a purchase, after which they are stored on file for future purchases. There’s no need to navigate to a separate, third-party payment screen to re-enter cardholder information manually.
Although many ecommerce businesses now use a 1-click checkout, Amazon was the first retailer to implement this concept into its website. Its Buy Now setting is available to all existing Amazon customers, who can turn it on in their purchase preferences. Once enabled, it allows Amazon to automatically complete the purchase by using the default address and payment method on file. Today, any merchant using the Amazon platform can enable a 1-click checkout using Buy Now. Many payment processors like Stripe or PayPal and digital wallets like Apple Pay also offer this service.
What are the benefits of one-click checkout?
There are numerous 1-click checkout advantages for both buyer and merchant. A lengthy checkout process is not only frustrating for customers, but it also leads to abandoned shopping carts and lost sales for merchants. You can remove these barriers to purchase by streamlining the checkout page and whittling it down to a single-click system. With less time to mull over their purchasing decision, customers are less likely to have second thoughts. They’re also more likely to see their preferred payment method offered, because a 1-click checkout uses stored payment details from past purchases.
Here are the key benefits of one-click checkout to consider:
User-friendliness: It doesn’t get any easier than a one-click payment solution, which removes most of the barriers to payment. Single-click systems are particularly useful for mobile payments, where shoppers are more likely to lose focus if they must enter information manually.
Speed: The purchasing process becomes fast and efficient for consumers on the go. It leaves less time for second thoughts, with instant confirmation of purchase.
Is a fast one-click checkout right for your business?
A one-click checkout is suitable for many due to its convenience and speed. On the other hand, one-click checkout won’t be applicable to every business or ecommerce store. The system works best when your store has a high percentage of returning customers. This is because customers need to enter their payment details the first time they make a purchase. It won’t work for businesses with a low rate of customer return – if customers don’t make repeat visits, they won’t have the opportunity to use a 1-click checkout.
You should also think about the type of products you sell. One-click checkouts work best for small, impulse buys rather than for big-ticket items where a customer needs to think about their purchase. They might not trust the speed of a one-click checkout when purchasing something like a refrigerator that requires more research.
How to implement a 1-click checkout solution
To temper any second thoughts at checkout, be sure that your solution clearly shows all relevant details including the item’s price and clear product details. It should also make shipping information clear before the customer clicks the button, or you might end up with a return or chargeback.
Most payment processors now include the option for a one-click checkout. Be sure that the processor is PCI DSS compliant to store cardholder details securely for future use. You should also think about the types of payment methods offered to your customers. While many customers prefer the familiarity of card payments, others will prefer the convenience and security of bank transfers. GoCardless can help provide safe, secure payments using our Direct Debit and Instant Bank Pay solutions. Customers only need to provide payment details once, after which time you can automatically take payment on the day it’s due – offering all the convenience of a one-click checkout.
We can help
GoCardless is a global payments solution that helps you automate payment collection, cutting down on the amount of financial admin your team needs to deal with. Find out how GoCardless can help you with one-off or recurring payments.