Industry’s first true one-click payment option increases sales conversions by 55%
NEW YORK, March 22, 2022 /PRNewswire/ — No fraud, a leading provider of fraud prevention technology, is launching NoFraud Checkout, a new product upgrade that increases sales by minimizing shopping cart abandonment. The first of its kind in the market, NoFraud’s one-click payment option never requires consumers to create a store account, NoFraud account or password; unlike Paypal, Bolt or Amazon which require buyers to register and enter their login credentials before completing a purchase.
The inconvenient task of having to create a store account, remember passwords and payment information before completing the checkout process is driving shoppers around the world to abandon shopping carts, resulting in a staggering increase $260 billion in lost revenue. Data from Baymard Research Institute shows that 70% of consumers abandon their shopping cart. 24% of this is due to buyers not wanting to create an account, and 18% is attributed to long and complicated checkout flows. Adding to the frustration, 1 in 6 legitimate shoppers were turned away at least once last year, causing retailers to miss 15% of orders from good customers.
With a personalized experience for every customer, NoFraud Checkout leverages fraud prevention and device recognition software to allow shoppers to pay with as little as their email address. A dynamic one-page design dramatically reduces the number of input fields, provides shoppers with an auto-fill address and payment option, prompts customers to correct typos or incorrect information in real time, and never requires store account registration. Recognized customers on the global NoFraud network are offered a one-click checkout option, while orders containing a high level of risk or high value are vetted with additional fields. adapting in real time to their level of risk. This allows NoFraud to validate riskier orders and prevent automatic declines. A simplified and improved customer experience results in more completed orders and a higher approval rate.
“Our society values services that offer convenience above all else. We flock to businesses that offer on-demand delivery of food within the hour, and clothing and other goods in two days or less. I’m surprised there aren’t enough companies prioritizing the checkout experience.” mentioned isaac gury, co-founder and CEO, NoFraud. “On average, consumers have to fill out 23.5 fields before they even pay for their items. It’s no wonder so many shoppers give up. Retailers who optimize checkout can see a 55% increase in conversions. That’s That’s why we created our new checkout feature, to reduce complexities, instantly verify recognized buyers, and speed up the transaction process, ultimately leading to fewer chargebacks, more sales, and brand loyalty.”
NoFraud’s advanced decision engine has an approval rate of up to 99.7%, which reduces false positives behind the scenes and ensures that the right customers transact with merchants. NoFraud uses artificial intelligence and machine learning, combined with a global team of analysts, to proactively examine hundreds of data points per transaction to weed out bad actors and drive accurate “win” decisions. ” or “failure” in real time. They remove the burden of manual review and setting thresholds for their customers, and offer a comprehensive financial guarantee and chargeback management service.
For more information, visit www.nofraud.com.
NoFraud, based in new York, provides e-commerce merchants with the most effective e-commerce fraud prevention and payment solutions, virtually eliminating fraud, manual review and chargebacks. See an immediate impact on your bottom line with increased approvals and conversions. Relieve your internal resources of all fraud-related concerns and responsibilities, allowing them to focus on growing your business. NoFraud is the leader in value for money and has the highest approval rates in the industry. Our team of industry experts, combined with the latest technologies and proprietary systems, enables our clients to stay ahead of emerging trends and threats. Integration with NoFraud is quick and seamless, and our highly collaborative attitude ensures that every company we partner with receives the right solution for their business. To visit www.nofraud.com for more information.
SOURCE No Fraud