How does Fast Checkout work?
Fast Checkout was created to make it easier for merchants to sell and people to buy. There’s a growing volume of online purchases – consumers spent over $211 billion online in the second quarter of 2020 and US e-commerce is predicted to grow 18% in 2020 – yet the clunky user experience has remained largely unchanged for nearly three decades.
Fast Checkout enables one-click purchases for buyers without requiring a password to log in. You only need to sign in once on a given device, and Fast will remember account and payment information, without compromising security. And Fast works on any platform, browser or device.
Where did the idea come from?
Fast was created to solve the vexing problem of e-commerce checkout that requires people to constantly enter payment details and passwords.
Fast Co-founder and CEO Domm Holland recognized the extent of this problem when his grandmother-in-law, trying to help out while one of his kids was in the hospital, couldn’t order groceries online for the family because she had forgotten her password.
Domm knew there had to be an easier way to access online accounts, without compromising trust or having to remember myriad passwords.
Fast Co-founder and COO Allison Barr Allen launched Uber’s instant pay product that enables drivers to receive payment 24/7 as soon as they complete a trip. She recognized the massive potential of developing more user-friendly payment services and resolved to help build new ways to reduce friction across all payment processing experiences. Initially joining Fast as an investor, she was excited by the company’s vision and ultimately joined Domm as Fast COO and Co-founder.
Who’s the team behind Fast?
Fast was created by software and payments experts from Apple, Amazon, Uber, Paypal, Salesforce, Google, Square and Visa. In addition to Domm’s extensive experiences in entrepreneurship and technology, Co-founder Allison Barr Allen led global product operations for Uber’s payments team after initially joining the Operations team in Chicago. Allison’s five-year Uber tenure provided an invaluable perspective on how to launch and scale global payments products that are intuitive and reliable, a process she’s replicating at Fast.
What’s the main problem Fast Checkout solves?
E-commerce is almost 30 years old, but the checkout process has barely changed since the earliest days of the web. You should be able to buy something online without having to pull out a credit card or remember your password. This is especially true as the volume of e-commerce transactions soars during the current, remote-first reality.
Customer experience is the strategic battleground for the $3.5 trillion global e-commerce market. And yet online sellers still struggle with cart abandonment, a rate most estimates peg at 80 percent of potential purchases. Checkout is the main culprit.
There’s a huge need and economic opportunity for sellers to reduce the friction in online checkout, which will allow small businesses to better compete with large-scale platforms. Consumers rule the day, and they will inevitably gravitate to the easiest solutions.
Fast Checkout gives sellers this option. Fast works on any device, platform or browser. This platform-agnostic approach enables sellers to deliver a seamless, trustworthy purchase experience that occurs in a fraction of the time of traditional online purchases.
Is Fast Checkout now available for sellers to install?
Yes. Interested sellers can now sign up to request Checkout for their online stores at fast.co/sellers.
Do consumers pay for Fast Checkout?
Fast Checkout is completely free for buyers.
How long does it take to deploy Fast Checkout?
Sellers can integrate Fast Checkout within a matter of minutes. Buyers only need to enter their basic information, such as shipping address and payment card, once, and they won’t ever have to do it again for any site that uses Fast.
What payment methods can consumers use with Fast Checkout?
All credit and debit cards in the Visa, Mastercard, American Express, Discover, JCB, Diners Club and China UnionPay networks.
Beyond one-click purchases, does Fast Checkout offer additional features?
In addition to one-click purchasing, buyers can track purchases made through Checkout, see the delivery status or reorder a product via the Fast Buyer Dashboard, This eliminates the need to hunt through old emails and visit multiple sites for these tasks.
How do buyers access / log in to the Fast Buyer Dashboard?
Fast buyers gain access to the Buyer Dashboard after making their first one-click order with Checkout. Fast then securely remembers account and payment information. Consumers can access the Buyer Dashboard at Fast.co.
Where is Fast Checkout available?
We’re not only focused on the US — if you can access the internet, you can buy a product using Fast Checkout. Sellers across dozens of countries can implement Fast Checkout on their website.
Where can sellers go to learn more about Fast Checkout?