Why streamlining checkouts is integral to e-commerce growth


Quick overview: You are a payment facilitator company based in Southeast Asia that leverages different payment gateways  to be able to offer to merchants an amazon-like one-click checkout solution and can accept all types of payment methods. With this type of solution, merchants (excluding all marketplaces such as Alibaba, Shopee, Lazada, etc.) are able to increase their sales conversion rates and make it easier for their customers to make payments and accept payments from all over the world through website or social media.

Objective: Write a blog that breaks down according to the following sections:

1 – E-commerce market/growth in Southeast Asia with emphasis on Thailand,  behavioural differences by region (3-4 regions), and roles of payment companies

2 – Dive into current checkout process (filling out personal information such as name, email, shipping & billing address, then payment information, etc) and highlight main frictions, why they need to be overcome as part of the growing process

3 – How current solutions have address previous frictions and subtly convey why a lot of friction still remains (e.g. payment gateways solve the issue of allowing merchants to accept online payments but still high numbers of cart abandonment because of process taking too long, forms have too many fields, etc.)

4 – Some solutions (like bolt.com and fast.co) that addresses and solves these frictions/problems

Some sample references to look at:

  1. https://sleeknote.com/blog/cart-abandonment-statistics
  2. https://truelist.co/blog/shopping-cart-abandonment-stats/
  3. https://sleeknote.com/blog/checkout-optimization

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