New Tech Partnership Extends Checkout Experience
As payment technologies evolve and emerge, a new partnership between financial tech company PayPal and e-comm tech company Bold Commerce is enabling the integration of payments and commerce for anytime, anywhere checkout. This form of headless commerce – which separates the front and back end of e-commerce applications – ultimately allows retailers and brands to control more of the checkout experience and payment options.
Though the integration, grocers and CPGs can use Bold Commerce’s headless checkout suite with the PayPal commerce platform to launch sales channels beyond their traditional websites and accept a full lineup of payment options, including PayPal, Venmo, PayPal Pay Later solutions, and credit and debit cards. The capability allows retailers to add checkout at different points along the buying journey, including social media, blogs and via QR codes on packaging, and use a single payment service.
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The companies point out that retailers can leverage the solution to drive more revenue without having to re-platform. It’s also a way to better engage with shoppers, they say, given data showing that 53% of shoppers abandon checkout before finishing their purchase.
“Payment choice and flexibility have always been a critical part of a successful commerce experience – but it’s only one part of the equation. Retailers today need to also offer a tailored checkout experience to help drive increased conversion,” said David Bruce, VP, global head of channel partnerships for PayPal. “It’s a powerful combination for a composable checkout to plug into any tech stack, and we’re excited to deepen our commerce capabilities with Bold Commerce.”
Echoed Yvan Boisjoli, co-founder of Bold Commerce: “The checkout experience needs to extend to everywhere shoppers are today, which also means that a full range of payment options need to be available to shoppers wherever they are. Through this new integration we’re making it easy and accessible to power checkout anywhere, with any payment method.”
San Jose, Calif.-based PayPal serves more than 430 million active accounts. Bold Commerce, headquartered in the Canadian city of Winnipeg, offers a proprietary suite of modular checkout, subscriptions and price rules solutions and works with brands including Pepsi and Mars.
