Buyers appreciate flexibility in how they pay for online purchases. Online marketplace Bonanza is taking Etsy’s lead by preparing to add a Direct Checkout experience that adds an Amazon-like experience when it comes to paying for goods. This means buyers will be able to use a credit card to pay for purchases without having to use PayPal or Checkout By Amazon to do so.
Bonanza CEO Bill Harding said the marketplace will launch the new functionality in beta by September, and ideally even sooner than that. He called it the company’s top-voted feature request for more than a year, but said finding the right card processor took time and patience.
Bonanza will us eBay’s Braintree Payments service to power the new payment processing.
“A couple years ago, no one offered any reasonably easy solution for merchants to accept cards directly on a marketplace,” he said. “Fortunately, third-party support for this has blossomed over the past year, with Braintree, Stripe, and Balanced all offering good options now. After weighing the options, we opted to use Braintree, since they were the only one of the three that wasn’t going to charge the merchant 25c every time money was distributed to their bank account.”
Bonanza allows sellers to accept PayPal and Checkout By Amazon. Once they’ve received three positive feedback ratings, they are allowed to offer money orders as a payment method as well.
Bonanza recently encouraged sellers to offer Checkout By Amazon. In an email it sent sellers in early July, the company listed some of the benefits of Amazon’s payment service:
- It’s fast. For shoppers with an Amazon account, their information is auto-filled when they buy from you. Fewer clicks mean more conversions.
- It’s trusted. Millions of shoppers trust Amazon’s “A to Z Guarantee.” Checkout by Amazon gives your customers confidence.
- It’s mobile. Mobile shopping is on the rise, and Checkout by Amazon is a leader in mobile payments. Support mobile customers by offering more ways to pay.
Harding told EcommereBytes that Checkout By Amazon boosted conversion rates by about 50% when it checked last year.
He also mentioned that Bonanza has been growing this summer “as if it were Christmas.”
“We’re aggressively hiring right now a number of positions currently,” he said.