@Pay is proud to be a sponsor of the 2015 All Payments Expo, taking place in Las Vegas February 21-25. All Payments Expo is an annual conference that explores payments innovation, including emerging payments, prepaid, alternative financial services, retail and technology.
At this intersection of innovative payments, retail and technology is @Pay–the best way to sell (and redeem) gift cards. With @Pay’s express checkout, gift cards are only two clicks away. If you are attending the event, please be sure to stop by Booth #809 to learn more and try our gift card demos. We look forward to meeting you!
SELLING GIFT CARDS VIA MOBILE EMAIL
The Current Problem
There is a slew of incredible statistics and studies that reveal how much we are connected to our email—especially via mobile. Marketers can take great pride in numbers such as a 68% open rate on mobile for Gmail & Yahoo users. However, the marketing team and e-commerce team should go hand-in-hand, and the e-commerce team is noticing there is currently a 97% abandonment rate for email purchases. Where is the disconnect?
The disconnect is in how many steps it takes to complete a purchase. Most email marketers simply hyperlink a sales item to a website, which is the first problem: Consumers have to leave their inboxes. Often, email readers are scanning their email and racing to inbox-zero. They don’t want to get off-task and be re-routed to the rabbit hole of the web.
This brings us to the second problem with hyperlinking: They have to be connected to the web via cellular or wifi. If checking their mobile email on-the-go, they may click that hyperlink and hit a dead-end and most likely never return.
The biggest issue, however, is the number of keystrokes and clicks required to currently make a purchase on web or mobile. For example, I recently attempted to simply purchase an item directly from a promotional email and it took me 7 clicks and 109 keystrokes.
Even the bigger e-commerce sites require consumers to remember passwords or download an app, which is a stumbling block in itself. Security experts say you should change your password every month. After the third month, who remembers what they changed their password to? To make matters worse, every site has its own rules for what it considers an “acceptable” password.
Express Checkout in Your Inbox
In this digital age, it’s obvious that the simpler it is to pay for an item, the more often we’ll do it. Just look at the popular phenomenon of Uber or Lyft: They made it incredibly easy to pay for a cab. Consumers enter their information the very first time they use the app, and after that it only takes two clicks to confirm future payments. After experiencing the ease of that, how could they go back??
The same experience is now being applied to every aspect of digital sales. Simplicity and security are the key components, and “express checkouts” are the solution.
E-retailers are streamlining the mobile checkout process by reducing the number of clicks required for completing a purchase. For example, RueLaLa saw purchase conversions increase by four times for Google Wallet users on its Android app after integrating Instant buy. Similarly, RoadRunner Food Bank saw their return on donation revenue per email was 12.5 times higher than the nonprofit industry average, after implementing @Pay’s express checkout in their email marketing campaign.
For every step you take out of the checkout process, the more you will see in conversions. You only have four seconds of the average adult’s attention and you need to capture that impulse-buy. If a purchase only requires a few clicks, your conversions will quickly rise. And if you can keep them in their inbox? You’ll see them rise even more.
Payments By Email
@Pay is the world’s first payment technology that leverages the current email infrastructure to deliver streamlined email payments — directly from your inbox. The @Pay email buttons are encrypted and once clicked are screened by a machine-learning fraud prevention system that analyzes transactions, their sources, and the merchant. The transaction occurs through SMTP (email) versus the traditional method of HTTP (web).
Similar to the Uber experience, consumers enter their information with their very first purchase using @Pay’s two-click checkout buttons, and anytime thereafter it only requires two clicks to complete a purchase within their inbox. (But even better than the Uber experience, consumers don’t have to download an app. Essentially, the app is already downloaded: It’s email).
Let’s say you’ve created a lovely, convincing email with @Pay buttons embedded in it:
Consumers hit the “Pay” button, which pops open a new email that says “Press Send to Confirm Payment, ” they hit “Send” and schwooop! They’re done. They receive the merchant’s branded receipt immediately in their inbox. The consumers never left their inbox and it took only two clicks to complete their purchase. Even if they’re not connect to the web at that moment, the transaction will take place as soon as connection is restored and their pending emails send.
Email Marketing Technology Converts to Sales
Combining cutting-edge marketing technology with an email express checkout is a killer combination. Email marketers are just now starting to integrate past purchase data with their email marketing programs. How about including a 2-click checkout button in an “Abandoned Cart Remarketing” email, or in a “Product Replenishment” email? Why jump out of the email to a shopping cart when you can purchase the item directly from the notification email itself? Real-time technology is another great way to urge those impulse buys. Imagine real-time countdown timers; real-time inventory of merchandise, available hotel rooms and flights; real-time donation meters…and then including a two-click sales button right next to it. Such combinations can be powerful tools.