US payments technology firm Stripe is launching Elements, a tool aimed at helping e-commerce merchants reduce the number of abandoned online shopping carts, which currently affects 70% of site visits. The tool enables customisation of the checkout experience, with the aim of encouraging shoppers to complete more transactions. In an interview with TechCrunch, co-founder and CEO Patrick Collison said that he was inspired by his own experience as a shopper in New York City who had been unable to find what she "This is something that affects literally every online business," said Lachy Groom, Stripe’s head of payments products. The company counts Facebook, Deliveroo and Lyft among its customers.
US payments technology firm Stripe is launching Elements, a tool aimed at helping e-commerce merchants reduce the number of abandoned online shopping carts, which currently affects 70% of site visits. The tool enables customisation of the checkout experience, with the aim of encouraging shoppers to complete more transactions. Stripe found that among 100 sites, 72% were bedevilled by three or more checkout errors, while the auto-fill feature on almost half didn't work correctly. "This is something that affects literally every online business," said Lachy Groom, Stripe’s head of payments products. The company counts Facebook, Deliveroo and Lyft among its customers.