A newly expanded partnership between BigCommerce and checkout platform Bolt is aiming to make easy purchasing processes more accessible. BigCommerce customers will now be able to leverage Bolt’s fraud and checkout products in a fully integrated workflow, accelerating time to market and letting smaller retailers compete on the e-commerce stage.
Prior to this announcement, Bolt had been the preferred checkout partner of over 80 of BigCommerce’s enterprise customer stores; now as one of its Elite Technology Partners, Bolt will be made available to the full 60,000 merchants who currently utilize BigCommerce. These merchants will now be able to offer single-click checkout to shoppers, which can help reduce cart abandonment and ensure greater conversion metrics.
“One of the things we appreciate most about Bolt is the company’s commitment to providing great customer experiences at checkout,” said Mark Rosales, VP of business development at BigCommerce. “Since 2018, Bolt’s integration has served as a valuable complement to the existing BigCommerce checkout, and the team’s ongoing push for innovation at the point of purchase makes them a great long-term partner for BigCommerce and our merchants. We’re excited to now call them one of our Elite Partners.”
Bolt’s fraud prevention tools in particular are expected to be popular, in response to the risen of e-commerce fraud rates throughout 2020. Online shopping accounted for more than $16M in fraud losses this year, according to the Federal Trade Commission, making it a costly business. However, merchants can get caught in the tricky space between wanting to crack down on fraudulent sales while still quickly approving all genuine customers.
A successful fraud tool is able to reduce counts of fraud while improving the checkout approval rate – which is exactly what Bolt claims to do. As a result, BigCommerce has denoted Bolt as a “Preferred Fraud Vendor,” with the aim of making workflows easier to implement and customize to users’ needs.
“Our partnership with BigCommerce echoes our mission to democratize commerce by giving independent retailers the tools they need to convert customers and grow their business,” Ryan Breslow, CEO at Bolt said. “As commerce enablers, we have an incredible responsibility to empower independent retailers and cultivate a rich playing field of merchants. By collaborating with BigCommerce’s extensive network of retailers, we’re doing exactly that.”
Enterprise retailers on BigCommerce can now sign up to the Bolt product, which includes additional features such as a no-scroll, mobile-friendly screen view and accelerated guest checkout. The company’s product up-sell functionality is also expected to help retailers increase their average order value, especially when combined with dynamic discounting.
“Product add-ons are a great way for retailers to add convenience and enhance their customers shopping experience,” said Breslow. “With Bolt, retailers can offer complementary or add-on products such as gift boxes, insurance, screen protectors, or batteries to help shoppers ensure they have everything they need before purchase.”