“Checkout Friction” is a term used to describe the various obstacles during the payment process. The obstacles may be small, but their cumulative effect can cause the customer to abandon the entire purchase. Common obstacles range from an overwhelming order form to having to key in lengthy credit card details.
An e-wallet (electronic wallet, also known as digital wallet) addresses this problem.
E-wallet only requires a single set up to link the necessary payment information, and the payment process is taken care of. The payment information is stored in TRAXX’s PCI DSS Level 1 secured environment.
Once checkout friction is reduced, merchants will benefit from higher conversion rates.
TRAXX offers fully customizable white label e-wallet programs, which will facilitate even faster secure sending and receiving of funds within the ecosystem.