CAMPBELL, Calif., Dec. 14, 2017 (GLOBE NEWSWIRE) -- Magento Commerce, the worldwide leader in cloud digital commerce innovation, today announced the availability of Instant Purchase in its newest release, becoming the first commerce platform to deliver the functionality since the Amazon 1-Click patent expired in September 2017. The new capability enables merchants to drive higher conversion rates and repeat purchases for returning customers with a streamlined checkout process.
“The majority of shoppers abandon purchases simply because the checkout process takes too long. The numbers show that even requiring customers to enter their credit card information or a shipping address deters from following through with their purchases, especially if they’re shopping on a mobile device,” said Leslie Hand, vice president of IDC Retail Insights. “Magento released the Instant Purchase feature as a component of the Magento Commerce cloud solution as soon as Amazon’s patent expired a few months ago, showing the platform’s ability to innovate rapidly.”
According to the Baymard Institute, the average global cart abandonment rate in 2016 was 70 percent, and it was even higher among shoppers on mobile devices. Magento Commerce now improves conversion by streamlining payment and shipping process during checkout.
“We are committed to creating the best possible online and mobile shopping experience for our customers – from initial browsing all the way through checkout,” said Logan Dunn, marketing director at ClearBags. “Instant Purchase from Magento Commerce provides us with a fast, easy shopping experience to combat cart abandonment, increase sales volumes and accelerate our business growth.”
Key features of Instant Purchase include:
- Customizable button;
- Fast, mobile-optimized checkout that reduces time-to-purchase by 90 percent;
- Automatic shipping to the customer’s default address; and
- Support for multiple payment methods.
“Magento is widely recognized as the No. 1 platform for equipping businesses with the innovative solutions they need to prosper in today’s rapidly evolving digital landscape,” said Jason Woosley, senior vice president, product and technology at Magento Commerce. “This milestone is yet another proof point of the combined power of our platform and global ecosystem in providing cutting-edge technologies customers need to react to changing market dynamics.”
The Instant Purchase feature was developed in conjunction with Enterprise Solution Partner, Creatuity, and is now available with the latest version of Magento Commerce and Open Source. For more information, please visit: https://magento.com/blog/magento-news/new-instant-purchase-checkout-boosts-sales.
About Magento Commerce
Magento Commerce is the leading provider of cloud commerce innovation to merchants and brands across B2C and B2B industries, with more than $124 billion in gross merchandise volume transacted on the platform annually. In addition to its flagship digital commerce platform, Magento Commerce boasts a strong portfolio of cloud-based omnichannel solutions that empower merchants to successfully integrate digital and physical shopping experiences. Magento Commerce is the #1 provider to the Internet Retailer Top 1000, the B2B 300 and the Top 500 Guides for Europe and Latin America. Magento Commerce is supported by a vast global network of solution and technology partners, a highly active global developer community and the largest ecommerce marketplace for extensions available for download on the Magento Marketplace. More information can be found at www.magento.com.
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