India-based payment and banking solutions provider Safexpay has launched a one-click checkout in a bid to address cart abandonment in ecommerce. The new offering, Aasaan Checkout, was developed with the purpose of tackling the challenge of cart abandonment that merchants face.

What is more, the product is addressed to direct-to-consumer brands and ecommerce marketplaces that have yet to develop their apps and that need to increase their conversion rates. According to the official release, it is expected that the new checkout option will increase conversion rates by 30%. Usability-wise, Aasaan Checkout can reportedly handle high transaction volumes and it allows merchants to onboard and use it without any threshold limits when it comes to volume or additional parameters.

The larger context The launch of this new offering comes to address a pain point in the Indian commerce market. According to reports, the average cart abandonment rate in the country currently sits at 51%, and it is said to increase up yo to 75% during festive seasons. Consequently, ecommerce merchants have to deal with significant revenue loss.

MSME ecommerce players, as well as D2C brands that don’t sell via apps are, purportedly, the most affected. Among the reasons contributing to the significant abandonment rates are factors like the time-consuming nature of payment procedures or checkout processes characterised by friction, where consumers are asked to manually enter their financial information. With the introduction of this new launch, one anticipated benefit is a boost in recurrent purchases and an overall growth of the order value for merchants.

As outlined in the official statement, Safexpay plans on onboarding more than 250 merchants during the coming year, and further aims to expand its presence in India and the Middle East. Another benefit of the new solution concerns the data-analysis capabilities that it features. Aasaan Checkout includes a consolidated dashboard that is said to provide merchants with visibility over their active marketing campaigns on platforms such as Facebook, Instagram, and Google services.

At this time, consumers can utilise the new Aasaan Checkout solution when purchasing from selected merchants on WooCommerce. However, Safexpay will reportedly extend it to Shopify. Moreover, the new offering will receive new features in the coming months.

These new capabilities tackle enhancing merchant centricity, boosting the shopper experience, and fostering client satisfaction and loyalty. .