Did you know that 55% of online shoppers will abandon a shopping cart if required to re-enter their credit card details?
This leaves e-commerce businesses at a loss of $18 billion in sales revenue. When running an online business, you want a payment method that encourages your customers to complete their transactions.
This is where touch commerce comes into play. This technology meets your customers’ convenience needs. It allows them to make payments using a single fingerprint touch or just a few screen touches.
But how did the world get to touch commerce, and where is this technology headed? Keep reading to learn more about the evolution of touch e-commerce.
What Is Touch Commerce?
The touch commerce technology leverages touch-based payment services provided by third parties. It uses the touchscreen feature to enable customers to make mobile purchases.
Your customers don’t have to input log-in or registration details. For instance, shopping applications could use information already in your customers’ operating systems.
All your customers need to do to make a payment is provide their fingerprint or make a few screen touches. They complete a transaction using pre-populated data held by third-party authenticators.
What Are the Key Drivers of Touch Commerce Growth? There are several reasons behind the rapid growth of touch e-commerce, but here are a few key factors:
The Increased Popularity of Mobile Commerce
Today, more consumers continue to make online purchases using their mobile phones. As an e-commerce retailer, you should optimise the customer mobile experience.
Therefore, optimising everything from chatting with customers to ensuring a seamless checkout. One of the best ways to attain a faster checkout is to use touch commerce technology for easy payment.
Improved Data Analytics
The e-commerce industry has become highly competitive. Businesses rely on data analytics to better understand their customers.
Improved data analytics allows you to analyse consumer buying patterns. This analysis has helped businesses determine the best way to simplify the checkout process. And one of the effective technologies in this cause is touch commerce.
The Continued Evolution of Payment Methods
The flexibility in payment methods has made it possible for e-commerce businesses to adopt touch commerce. With the continued evolution of payment methods, more businesses are open to accepting various payment methods. These include e-wallets and cryptocurrency.
The Future of Touch Commerce
There is no doubt that touch commerce is here to stay. This technology has effectively worked towards increasing customer satisfaction and will continue to do so. When using touch commerce, your consumers get an unmatched shopping experience.
They can complete their e-commerce transactions from anywhere.
With consumers being active on their mobile devices for the better part of their day, tech experts will only continue to improve touch commerce. The goal is to ensure that e-commerce retailers leverage the increasing consumer online presence.
Touch commerce will be the perfect opportunity to convert consumer browsing habits into purchases.
Start Leveraging Touch Commerce Today
Touch commerce is a technology that promises consumers end-to-end assistance during e-commerce transactions. As an e-commerce retailer, you cannot afford to miss an opportunity to improve the customer experience on your website. The best you can do is jump on the touch commerce bandwagon with us and enjoy the benefits that come with it.