According to BuiltWith, BigCommerce is the platform of choice for almost 150,000 merchants who invest significant resources in optimizing their customers’ shopping experiences. Despite these efforts, nearly 70% of shoppers abandon their carts before completing a purchase, often due to micro-moments of friction that slow the checkout process. These obstacles, which can be costly, add up to an estimated $18 billion in losses for merchants each year.
For BigCommerce merchants using NoFraud Checkout, here are five ways to increase conversions by reducing checkout friction.
How to Convert More Shoppers on BigCommerce
1. Eliminate MFA for Returning Shoppers
Multi-factor authentication (MFA) is essential for fraud prevention because it adds an extra layer of security to the authentication process. Traditional authentication methods, such as usernames and passwords, are susceptible to various forms of fraud, including password theft, phishing attacks, and brute-force attacks. MFA helps mitigate these risks by requiring multiple pieces of evidence to verify a user’s identity.
While MFA is important, it’s unnecessary for returning shoppers. Merchants can make checkout easier for repeat customers by eliminating MFA. NoFraud Checkout makes this possible by using the highest security protocols to help auto-fill information for shoppers with a high level of confidence that the shopper is who they say they are. As an additional layer of security, NoFraud uses its massive merchant shopper network — which recognizes 98% of shoppers — in concert with best-in-class AI and data algorithms to deploy the most accurate, real-time risk scoring. The NoFraud Checkout solution is designed to move shoppers quickly through checkout and increase approvals of legitimate orders.
2. Make Checkout a Single-Page Experience
Multi-page checkouts try to be bite-sized for usability, yet create apprehension because shoppers don’t know what it entails, what’s next, or how long it will take to complete. A multi-page checkout can take around 1:40 minutes to complete, which leaves too much time for customers to close out of their shopping experience. As many as 17% of cart abandoners leave because of a long or complicated checkout process. Single-page checkouts bring completion time down to under a minute. With fewer clicks and all of the right information populating in a single view, checkout becomes easier and the risk of cart abandonment minimizes.
NoFraud Checkout streamlines the checkout experience with a design that enables customers to complete purchases with the fewest keystrokes possible. Form inputs are limited to only information necessary for fraud prevention and inputs like name and address are consolidated into a single field. Billing information is only requested when the shopper shows an elevated risk level, which helps pass more legitimate customers quickly through checkout.
Payment options are made obvious along with other information that helps prevent cart abandonment like what items are in the cart, total cost, and return policy. NoFraud makes all the necessary details visible from the start to encourage swift checkouts while ensuring it isn’t overwhelming for shoppers.
3. Create Dynamic Form Fields
Every shopper shouldn’t — and doesn’t need to — go through the same checkout process. As risk levels vary, so should experiences. The only hurdles shoppers should be jumping over are those that protect both them and your business. But, the responsibility falls on the merchant to do their due diligence upfront and not leave it to customers to do most of the work proving they are legitimate. It is only when the backend fraud solution leverages its millions of data points to identify a risk score that calls for more information that customers need to verify their legitimacy.
With NoFraud Checkout, trusted shoppers are able to checkout in fewer clicks. NoFraud uses dynamic trust building — where at every step of the way, risk is reevaluated and dynamic fields appear as needed. For example, if a shopper returns using the same device, fields are prepopulated. However, if a shopper returns using a new device, a new field appears requesting shipping information. Every input from the shopper feeds back to the NoFraud fraud engine in real-time so that merchants are collecting all the necessary information needed to prevent fraud from happening in the first place.
4. Optimize for Device
Screen size shouldn’t prevent shoppers from completing purchases, but unfortunately, it does. Cart abandonment is highest on mobile, sitting at nearly 86%. Having a great desktop checkout experience only to be disappointed by a difficult mobile experience can turn even your biggest advocates away. Consistency builds trust and checkout experiences need to be consistent across devices.
NoFraud Checkout optimizes view based on device so shoppers can get the same great experience on mobile, too. Customers who are already logged into their account are also presented with an easier and faster checkout experience. NoFraud Checkout is designed to make it easier for customers to get in and get out with what they need quickly and easily.
5. Block Repeat Fraud
Fraudsters thrive on a business’ vulnerabilities, so merchants need a smart checkout solution that can block repeat fraud. Fraudsters leave a trail of evidence in their wake and it’s important for eCommerce shops to stop any leaky pipes as soon as possible. With NoFraud, merchants can report potentially fraudulent transaction events like returning an empty package or threats made by a customer to your customer service team. NoFraud tracks each reported event and uses machine learning to categorize and understand undesirable customer behaviors — specific to each merchant — so that repeat fraud attempts are blocked and merchants can approve more legitimate orders.
BigCommerce + NoFraud Checkout
Merchants that use BigCommerce with NoFraud Checkout are armed with a powerhouse combination of platforms designed to increase checkout completions while simultaneously preventing fraud. NoFraud Checkout works to minimize cart abandonment by making the checkout process as simple as possible, even for shoppers without store accounts. Transactions are evaluated in real-time, allowing good customers to speed through checkout while risky customers are thoroughly vetted.
Solutions that only screen orders post-gateway don’t allow merchants or consumers the opportunity to redeem a rejected order. NoFraud Checkout works to decrease false declines and maximize approvals with its unique, pre-gateway fraud prevention working in sync with a dynamic checkout that prompts customers to fix typos or incorrect information in real-time.
