If conversion is the Holy Grail of eCommerce, Apple’s rumoured new payment functionality will convert many buyers and retailers alike into believers. Reports surfaced recently about Apple’s new foray into the world of mobile web, and outlined the ease with which iPhone and iPad users would be able to pay with the much beloved one-touch approach as early as this year’s holiday season.
Closing the Conversion Gap
The convenience and ease of Apple Pay (today only available via apps and in-store) has, with astonishing speed, integrated itself into the fabric and expectations of the shopping experience. Its integration into mobile browsers will have monumental implications for buyers and retailers, bringing about a shift that will advance mobile commerce to a point where mobile conversion rates will finally be poised to outpace those of desktop – if the popularity of Apple Pay today is any indication.
Right now, desktop conversion rates are double that of mobile because of the inconvenience and boredom involved in entering long strings of numbers and personal information on tiny screens with even tinier buttons. It discourages potential buyers from pressing go on purchases on the very screen where they browsed their way to intention. This chasm in intent and purchase continues to plague retailers, affecting revenue as mobile is becoming our primary device of choice for all our online activities.
Forget the Wallet
Times are changing. The availability of Apple Pay on mobile web will reduce the demand for PayPal, and perhaps even Apple Wallet. The very idea of a wallet will become less important with an instantaneous, one-touch link between your credit card and anything you want to do on the mobile web. Within a few years, we will see mobile web becoming the largest revenue channel, superseding desktop and mobile applications. The dream of mobile converting better than desktop is just around the corner.