Completing a transaction on a smartphone can be a pain for shoppers. Each website or app has its own login information for customers to first remember and, second, enter into a very tiny space on a very tiny screen. And at some point — whether it’s during the login creation or at the beginning of each checkout process — shoppers need to enter their credit card information.
Lyst, a fashion e-commerce platform that enables consumers to shop from over 10,000 designers and stores in one place, is making the mobile checkout process easier for its customers by partnering with international payments provider Klarna. Lyst customers can now simply enter an email address or ZIP code for fast and easy mobile checkout.
“Half of our customers shop through mobile and tablet," says Lyst Product Manager Etienne Martin. "Checking out is straightforward, seamless and secure.”
Qualified customers will even be able to pay for their orders after they receive them in the mail. This may seem risky for retailers, but Klarna takes the financial risk up front by paying the retailer immediately.
“Klarna allows us to improve the [mobile] experience even more, both for the customer and our retailers, by reducing payment rejections and ensuring the most secure transactions possible,” explains Martin.
After some A/B testing, Lyst saw a 5.1 percent increase in mobile conversion, leading to a 6.8 percent increase in total merchandise sales.
“Working with Klarna allows us to integrate all retailers’ 3-D security, which wasn't possible in the past,” notes Martin. “This means extra brands available for our customers in the universal cart.”
The retail industry is fast evolving, so innovation in the online payments space is necessary. Martin says Lyst’s integration with Klarna is a sign of this evolution, and he can’t imagine this innovation stopping anytime soon.
“We're always keen to experiment with new solutions that will make shopping better for our customers.”
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