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12Jan, 2016

Magento 2.0 – Drive Sales and Improve Conversions with Improved Checkout Process

In our earlier blogs on Magento 2.0, we have looked at the modern technology stack in Magento 2.0 and features to help expedite the development, QA, and deployment process. If you have not already read those then we encourage you to do that. In this blog, we will look at the changes made to the checkout process in Magento 2.0 to drive sales and help improve conversions.

Better Site Conversion and Sales

The Change

  • Checkout
    • Asking users to register before checkout and a long checkout process, are among the top reasons for shopping cart abandonment. To address this Magento 2.0 has an improved one-step checkout process which assumes guest checkout.

      Magento 2 - Assumed Guest Checkout

    • The new improved checkout process does not mandate registration and asks the users to enter minimal information. Other improvements in the checkout process include
      • Auto recognize users based on the email and prompt for password (the customers can still choose to checkout as a guest customer),
        Magento 2 - Auto Identify Guest Customres
      • Get shipping rates once sufficient information is provided (Zip code), and
        Magento 2 - Get Shipping Information with ZipCode
      • The improved checkout process automatically identifies the credit card type based on credit card number and requests the billing information only when payments are needed
        Magento 2 - Payments
  • Payment
    • Magento 2.0 moves away from the traditional payment bridge and now supports hosted and transparent redirect options.
      • Supports third party embedded APIs with direct post,
      • iFrame that allows the payment form hosted by a third party to be embedded within the merchant’s page, and
      • Third-party hosted payment pages which redirect the customer to a page on an entirely different domain for payment entry
    • Magento 2.0, by default supports PayPal, BrainTree, Authorize.net, CyberSource (EE only), and WorldPay (EE only) payment gateways.

What this means for Merchants

  • While the improved checkout process sets the stage for reduced shopping cart abandonment and improved conversions, the hosted and redirect payment options make way for easier PCI Compliance; SAQ – A or SAQ A – EP depending on the selected payment method.

What this means for Developers and Partners

  • In Magento 1.x, developers and partners had invested a significant amount of time customizing the checkout process. With Magento 2.0 the process should be simplified and easy to customize.

What this means for End Customers

  • The new checkout process will improve the customer shopping experience while the payment improvements will enable shoppers to shop without worrying about PCI compliance; as the merchants no longer have to store the credit card information on their server.

Stay tuned for our next blog on Magento 2.0!!

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Magento 2.0 – Drive Sales and Improve Conversions with Improved Checkout Process