What if there was one thing that could help you gain more sales, especially repeat sales? Sounds too good to be true, right? If you are using Shopify, adding Shop Pay as a payment option allows users to have a fast checkout process, increase sales, and improve repeat sales.
So, what is Shop Pay? Previously known as Shopify Pay, Shop Pay guides potential customers through the process of purchasing to generate repeat sales. In short, it is an amazing payment button to handle your checkout process. Let’s learn more about it in this post.
Shop Pay: An overview
Shop Pay is a convenient and accelerated checkout process intended for Shopify stores. It allows you to save their payment options and personal details so that you don’t have to type in everything whenever you need to buy a certain item. Shop Pay fills out the checkout information automatically that includes the following.
- Billing address
- Billing address
- Mobile phone number
- Credit card details
The best part is that you can save up to 5 shipping addresses and credit cards. Moreover, the data are encrypted so that it remains secure. For example, you can add your shipping and billing information for a smooth checkout next time you buy.
Because of the accelerated checkout system, payments are processed faster. It means you can have more repeat purchases. And, all you have to do is enter the email address. However, you can speed the payment process by using your phone number. But, it won’t save your information.
With Shop Pay, you get to experience a lot of awesome features. Apart from saving valuable time for your customers during the checkout process, Shop Pay has pickup and delivery methods as well. Furthermore, your customers can rest assured that their information is private and safe.
The information is stored on Shopify’s ready servers securely. Because the information isn’t stored in your store, it saves you from legal issues relating to compliance regulations. When you sell online, security is an important aspect that you can’t ignore.
So, whether you are working with a merchant account, 3rd party payment system, or something else, having a secured online payment system is necessary. Therefore, support for everything starting from compliant servers to smoother delivery is a must for your small business.
How Shop Pay works
Your customers can choose the payment options at the checkout by using Shop Pay. And, it will be listed as a payment option alongside others such as Amazon Pay or PayPal. However, you have to enable the setting first. The first time your customers click on the Shop Pay button, they will have to enter their billing, shipping, and credit card details.
While this process is normal, the only difference is that your users have the option to save the information for the next purchase for faster checkout. When your users enter their contact numbers and link their accounts for the first time, they are all set for Shop Pay.
It means, that whenever they visit your eCommerce or other Shopify store using the same device, Shop Pay will direct them to the Order Review page. And, they have to select Authorize Purchase. Shopify has built-in security measures that safeguard a customer’s information including the Shop Pay code that was sent to the registered phone number of the user’s cellphone.
From the order review page, users can use this payment option and skip entering the information asked for. They need to enter only the 6-digit code that was sent to them through the text message. The order gets completed after they enter the code. When they shop again using the same device, the code isn’t required.
While the option might appear complicated, it isn’t. So, whats Shop Pay popular for? The fast transaction process that your users can experience by adding the Shop Pay button to their checkout is what makes it popular.
How to add Shop Pay at your checkout?
Before enabling the Shop Pay option, you have to ensure that your online store has Shopify payments. Open your Settings menu from your Dashboard and choose Payment Providers. Adding the Shop Pay button is straightforward.
- Go to Settings and click on the Payments option on your admin panel
- Find Shopify Payments and choose Manage
- Look out for the Accelerated Checkouts option and choose Shop Pay
- Click the Save button and save your changes
Shop Pay gets activated on your online store and customers can now use it as a payment method when checking out. Also, you can provide your customers with the option to pay in installments. However, you have to apply for it first and US merchants can use this process. Furthermore, the Shop Pay installments have limited availability and are in an early phase.
Why you should add this to your checkout process
Apart from speeding up the payment process for your customers, Shop Pay has other benefits that you should take note of.
- Reduce the number of abandoned carts – When it gets easier for the customers to complete the payment process, it encourages them to buy more. So, when you add Shop Pay as your shipping and billing information, it helps to reduce the number of abandoned shopping carts
- Lower fees – When you use Shopify Payments for credit card transactions, it allows you to avoid the transaction fees set by Shopify. Moreover, using Shopify Payments is the best way to avoid those fees. Also, it doesn’t cost you to add Shop Pay or Shopify Payments to your online store. Sadly, not every merchant gets approval to use Shopify Payments. Moreover, if you aren’t eligible, you can’t use Shop Pay either.
- Ease of use – The best part of using this feature is that it is easy to implement. It is completely safe and easy to use for your customers. That way, the chances of increasing your sales increase. Moreover, it is easy to implement well. You don’t need technical expertise to blend in.
In a nutshell, if you are considering adding this feature to your Shopify store, there isn’t a downside to adding this option. And, your customers won’t be forced to use this payment option. Rather, it will appear as another payment option.