Citing its own research which reveals that 53 percent of shoppers abandon carts at checkout, Bold Commerce believes that to drive conversion retailers need to offer tailored checkout experiences based on shoppers’ profiles and how they’re shopping — the company’s collaboration with PayPal aims to do just that.
Together PayPal and Bold Commerce are bringing payments and checkout together into a single, pre-integrated solution. The collaboration is a key part of PayPal’s move into the growing headless — the separation of the front end and back end of an e-commerce platform, designed to offer companies more freedom to build a richer customer experience — commerce market.
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The companies expect that by using both PayPal and Bold Commerce, retailers will drive revenue growth through increased checkout conversion on their websites and new shoppable checkpoints.
Through the integration, retailers and brands will be enabled to use Bold Commerce’s headless checkout suite on the fintech company’s commerce platform to launch sales channels beyond traditional websites and accept more payment options including PayPal, Venmo, PayPal Pay Later solutions and credit or debit cards. Retailers will be able to give consumers access to checkout wherever they are interacting with the brand including blogs and social media or through QR codes placed on packaging.
“Payment choice and flexibility have always been a critical part of a successful commerce experience — but it’s only one part of the equation,” said David Bruce, vice president, global head of channel partnerships at PayPal. “Retailers today need to also offer a tailored checkout experience to help drive increased conversion. 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.”
According to the companies, by bringing Bold Commerce’s Bold Checkout solution to PayPal’s offering and more than 430 million active accounts, the partnership is poised to be the “largest global cross-merchant network effect for e-commerce.”
“The checkout experience needs to extend to everywhere shoppers are today, which also means that a full range of payment options needs to be available to shoppers wherever they are,” said Yvan Boisjoli, cofounder of Bold Commerce. “Through this new integration, we’re making it easy and accessible to power checkout anywhere, with any payment method. We’re looking forward to working with PayPal as they make this move into headless commerce.”