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Indonesia's first all-digital credit card for e-commerce - akshay garg


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Indonesia's first all-digital credit card for e-commerce

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Indonesia's first all-digital credit card for e-commerce - akshay garg

  1. 1. Indonesia's first all-digital credit card for e-commerce 1 minute to apply 2 clicks to buy 30 days to 12 months to pay back
  2. 2. $5b worth of goods were transacted over B2C in Indonesia despite >80% cart abandonment rate If cart abandonment could be reduced to best in class 60%, sales would increase 100% to $10b at no extra markeEng cost
  3. 3. What is Cart Abandonment? A poten(al customer who has visited your website, carted a specific item or item(s), started the checkout process but has le< the site before comple(ng their transac(on.
  4. 4. The problem 80% Don’t Track Don’t Follow up
  5. 5. m-Commerce is the new e-Commerce Criteo reports 34% of all ecommerce in Indonesia is m-commerce already. This is the highest percentage in SEA! Mastercard reports that number to be as high as 50% INDONESIA IS MCOMMERCE READY 60M smartphone users already in the country today, growing to 100M by 2019 SMARTPHONE USERS ARE GROWING
  6. 6. Cart abandonment on mobile is way higher than others DROP OUT ON MOBILE 78% PEOPLE PUT AN ITEM IN THEIR CARTS 100 ABANDON THEIR CART ON DESKTOP 67% DROP OUT ON TABLETS 68%
  7. 7. The psychology Login Fatigue Payment Errors Site Speed ? Security Concerns Unanswered Questions Mobile Window Shopping $ Shipping Costs Form Frustration ? Last Name First Name
  8. 8. Biggest reasons for cart abandonment in Indonesia Don’t want to use their card (security fears and inconvenience) SECOND ISSUE Fearful of not geMng right product or of not geMng it on (me THIRD ISSUE Unnecessary Registra(on and too many fields FIRST ISSUE SIGN UP
  9. 9. Example mobile commerce 1. Start page 2. Choose product 3. Add to cart
  10. 10. Example mobile commerce 4. Checkout now 5. Go to guest checkout
  11. 11. 6. Shipping address -  Name -  Street -  Address -  City -  State 7. ConEnue Example mobile commerce
  12. 12. 8. Billing address -  Name -  Address -  City -  State -  Email -  Telephone Example mobile commerce
  13. 13. 9. Name on card 10. Credit card type 11. Security code 12. Credit card number 13. ExpiraEon date 14. ConEnue Example mobile commerce
  14. 14. Massive fricEon in payments and checkout 60% of credit card holders don’t want to use their credit card online LACK OF TRUST 50% of ecom transac(ons through bank transfers never get done HIGH ABANDONMENT Shopping cart abandonment is increasing as more users deal with poorly designed checkouts POORLY DESIGNED CHECKOUTS
  15. 15. People will buy with mobile if we let them
  16. 16. Amazon’s mobile order flow Amazon’s workflow is simple: type password + click 1-2 (mes. Results in best in class cart conversion! Email Add to cart Login Summary Buy Email showing previously browsed items Product detail page Login page, enter your password Cart summary Order page
  17. 17. Best pracEces for core problems SIGN UP FIRST ISSUE SECOND ISSUE THIRD ISSUE Reduce fields No need for bank cards or credit cards Risk-free purchase experience
  18. 18. Other best pracEces Eliminate unnecessary registra(on Separate buying from checkout Personalize the buying experience Think Cross-Device Measure performance Display retarge(ng Email retarge(ng
  19. 19. Your Sales Enabler Thank you!