Postpay, a leading buy now, pay later player in the GCC, now looks to further empower e-commerce retailers and their customers with a seamless, express checkout solution designed to homogenise and simplify the online checkout experience while driving conversion. Customers can use One by Postpay to checkout faster, easier, and more securely across their favourite online brands.
In the GCC, over 68 percent of carts are abandoned during checkout due to unnecessary friction during the checkout journey. Businesses continue to invest in customer-centric activities such as marketing and promotions, however the result remains that two out of every three customers abandon their carts, resulting in approximately $16 billion in lost sales in the GCC alone.
The new retail era has evolved beyond instant gratification. Customers today expect a familiar, convenient and frictionless shopping experience and simply switch brands if their expectations are unmet. The younger generation of GenZs and Millennials are frustrated by multiple, time-consuming checkout processes, such as filling out arduous forms and re-entering payment information and passwords.
Tariq Sheikh, founder and CEO of Postpay, commented, “The impulse to shop online has not changed, but the expectations surrounding the experience have. With the help of global tech giants, customers know they can get what they want when they want it, but what has evolved is this shift towards constant gratification. Customers now seek a consistent shopping experience that is instant, smooth and convenient, across all the brands at which they want to shop.”
Around the world, express checkout providers have emerged to solve this problem, but to date no such solution has emerged in the Middle East. This is where One by Postpay makes its mark.
One allows customers to bypass the tedious steps of the typical checkout process and instead purchase their desired items directly from the product page or cart across a large partner network of leading e-commerce brands.
As a result, One offers a unified checkout experience for customers and is five times faster than any other regional checkout experience. Tariq attributes One’s performance to “its seamless technology and design that leverages behavioural science and cutting-edge design-tech to create an unmissable button for customers.
“A solution like this doesn’t exist within the GCC, so One is the first of its kind. With One, customers can pay in one go or over time with three monthly payments in a matter of seconds.”
E-commerce retailers experience over 35 percent uplift in online sales as an express checkout means fewer abandoned carts and more growth for their business. Additionally, customers that join One’s network are 50 percent more likely to return to the e-commerce site and repeat purchases.
Tariq Sheikh went on to say, “We have had the privilege to work with thousands of merchants in the GCC and what we found was a consistent pain-point with regards to the checkout experience and cart abandonment. One is here to solve this.”
Postpay has served over a million customers across the GCC who are demanding a more seamless experience and retailers will be able to tap into this pool of customers by offering One. One seamlessly integrates with e-commerce plugins or via custom integration, and online retailers are already signing up to give their customers a better checkout experience.
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