Here at Bolt, one of our goals is to create a world-class checkout experience, regardless of how shoppers choose to pay. We’re continually optimizing our checkout experience for a better shopper experience and to create higher conversions for you. In support of this, Bolt is launching the Bolt One Click Wallet: the industry’s first and only commerce wallet that extends one-click checkout beyond credit cards to all payment methods, starting with PayPal.
Are you giving shoppers what they want?
Your customers want more flexible payment options, especially your mobile shoppers. This has given rise to alternative payment methods (APMs) like digital and mobile wallets to financing tools. APMs already account for over 43% of global transactions and that figure is expected to rise over the next few years.
As shopper demands and expectations continue to rise, one-click checkout has stepped into the spotlight as the holy grail of the mobile shopping experience. Not offering shoppers their preferred method of payment or not offering a fast, convenient way to complete their purchase are the main reasons for the industry-wide cart abandonment rate of over 70%. The cart abandonment rate spikes even higher on mobile, to 85%. This adds up to nearly $1T in abandoned checkouts in the United States alone every year, and upwards of $10T globally.
Bolt’s CheckoutOS scales with your business and pre-built integrations with top APMs allow you to give your shoppers what they want: their payment method of choice and the convenience of one-click checkout. You get higher conversion and lower cart abandonment rates and your customers benefit from an amazing customer experience.
Introducing Bolt One Click Wallet
With the launch of Bolt One Click Wallet, when checking out on our one-click checkout, shoppers can now connect, save, and manage their APMs—in addition to credit cards—in their Bolt account. Unlike other consumer wallets, this includes buy now pay later APMs, such as Afterpay. Next time shoppers checkout on the Bolt network, once they’re logged into Bolt, they’re also authenticated into all APMs stored in their Bolt account, saving them several clicks.
Bolt One Click Wallet: Benefits For Your Shoppers
- All payment method types in one place
Shoppers have access to and can manage all their APMs, such as PayPal and Afterpay, and credit cards in one place—their Bolt One Click Wallet.
- Breezing through checkout
When shoppers save APMs in the Bolt wallet, they won’t have to re-log into APMs next time they shop on the Bolt network, saving them several clicks.
- Convenience = security
Their financial information is encrypted, tokenized, and stored securely in compliance with PCI regulations. Shoppers can shop with peace of mind knowing their sensitive information isn’t shared.
Bolt One Click Wallet: Benefits For Retailers
- Reduced abandonment rates
With no need to remember their APM logins and passwords, shoppers are more likely to complete checkout.
- Higher conversion rates
Frictionless checkout with no more pop-ups that take shoppers out of the buying experience means higher conversion rates for you.
- Higher account conversionDuring guest transactions, when shoppers save their APMs, Bolt will create a shopper account with their stored APM credentials. Returning shoppers with saved details convert 63% higher.
See How Bolt One Click Wallet Works
With the Bolt One Click Wallet, we’re extending the one click checkout experience beyond credit cards to all APMs, starting with PayPal. Now shoppers can connect, store, and manage saved payment methods such as PayPal, Afterpay, and credit cards, in their Bolt account. They can breeze through checkout the next time they shop on the Bolt network.