To keep away from cart abandonment, Nuvemshop launches fee technique for small companies

With an eye on agility, a new option will allow unification of data for payments in all stores active on the platform

THE Cloudshop, an e-commerce platform for small and medium-sized retailers, wants to offer all the necessary framework so that these sellers can, in fact, operate digitally. With an eye on the technological increments necessary for this journey, the company announced the launch of Pay Clouda new payment method for merchants operating on the platform.

The idea, according to Nuvemshop, is inspired by large global marketplaces, such as Mercado Pago, a payment fintech from the giant Mercado Livre, or even Ame, from the Americanas SA group.

How it works?

Cloud Pay appears with the purpose of streamline the online shopping process with just a few clicks, preventing consumers from abandoning their carts due to the complexity between choosing a product and paying – which often includes a lengthy process of filling in credit card details.

With the solution, the promise is that the checkout for any purchase on Nuvemshop will be faster, since the user’s personal data will be registered on the platform as a whole. Thus, any payment, in any cloudshop store, can be done automatically.

With an eye on security, Nuvemshop states that all information is collected and stored in accordance with the General Data Protection Law (LGPD).

According to Guilherme Pedroso, director general of Nuvemshop in Brazil, the launch should also boost revenue for small retailers, since the solution does not incur any new costs and promises to speed up new sales. “By launching Cloud Pay in a challenging economic context, we enable our customers to take advantage of a unique technology to leverage their revenues. And better, at no additional cost,” he says.

According to the company, the new payment option increases the number of e-commerce sales by active tenants by up to 40%. The estimate is based on a first phase of testing with some sellers of the platform that lasted two months and had at least 500,000 registered consumers. By the end of the year, the goal is to reach 5 million customers.

Why does it matter?

Friction in online shopping processes, especially those linked to payments — such as filling in bank information — is now the main motivation for consumers to abandon carts, according to research by Opinion Box. The same survey shows that more than 70% of consumers say that the faster the payment step in the virtual store, the greater the chances of buying.

Source: Exam