The new feature on Stripe could increase conversions by 77% (+ Videos)
Table of Contents
- What is Link by Stripe?
- How Do You Link work?
- How Does Stripe Link Benefit Your Business?
- More efficient checkout process and style
- How do you enable Link via Stripe to Your Site
- Getting set up
- Wrap-Up
- Get Today!
Link powered by Stripe is here, and is built in to your existing Stripe Elements integration. There are no cost or charges.
If you're a creator located in the U.S., and you're working with USdollars, then you've got the ability to access Link.
The new feature is amazing due to a myriad of reasons. This is one of the most compelling:
Link users make purchases 4 times more often than non-Link users.
In this blog, we'll cover some more fascinating statistics. We'll also talk about the benefits of Link by Stripe can do for you. We'll show you the way it operates, and we'll assist you in getting goingwith Link to your website.
Let's get to it!
What is Link by Stripe?
Link is a payment feature that is available via an integration with Stripe Elements integration.
This gives your members and clients a quick safe, simple and secure option to pay single-click payment on thousands of sites.
If it's your website or another Link-enabled site, when a first-time user is able to pay through Link it saves and secures the user's information in order to allow future 1-click payment.
Link is a certified PCI service provider level one, so your customers' saved data are extremely secure.
How Does Link Function?
Link lets users enable completely secure 1-click online payments with a simple check-out process only once.
Here's a breakdown of how this easy procedure works...
Step 1: Customer checks out and saves payment info
The customer is on a Link-supported site (yours or another). When they checkout, they save their payment details and the shipping address.
Step 2: One-click payments are allowed
In the event of any subsequent purchases, Link autofills that customer's stored payment information so that they can check out with only one click.
3. Step 3: Client completes mobile verification in the future
The customer now is ready. When they use Link on a new site or gadget, they'll be issued an unique code. This code will authenticate their identity and help ensure that their information is secure.
What is the benefit of Stripe Link? Your Business?
Studies show that abandoning carts is a major costly and expensive issue.
For example, a study conducted by the Baymard Institute showed that almost 70% of shoppers quit their shopping carts. The main cause of cart abandonment is the frictionin the buying process.
It was also found out that close to 1/5 of shoppers abandoned their carts due to the checkout process that they claimed was "too complicated and long".
In addition, Baymard found that improving the checkout "flow and design" could save the industry $260 billion in lost orders.
The only method to make these sales is by creating a quick and smooth buyer's journey.
Through its 6 second check-out process, that's exactly the way Link by Stripe does.
Improved checkout flow and layout
Link can make the buying experience as much as nine times quicker. And studies show that the Link customer experience is so much better that Link users buy four times more frequentlythan non-Link users.
Since its launch, companies using Link have seen an increase in conversions by over 7%. It's an astonishing, code-freeway for small online businesses to build a full payment page and share the link with customers.
Do you want to set it up? It's easy!
How To Enable Linking via Stripe to Your Site
If you're creator and you've got the Stripe connection, it's fast and simple to establish Link. Just follow these steps.
Setting up
Then, visit your Stripe Dashboard - settings -> Payment methods. Choose from the .com platform from the dropdown.
After that, scroll to locate that Link Payment option, and click the Switch on button.
Next enable Link in the settings of your account by selecting the settings > payment tab.
Find your Stripe gateway settings (see the image below) Check that Stripe Elements are selected.
Then scroll down, check the box next to Enable Link (recommended), and Save your Settings.
All you need to do is set! The next time that a customer pays out, they have the option to pay with Link.
Wrap Up
The buyer's journey is a source of friction and is one of the main reasons for revenue loss due in cart abandonment. Link by Stripe is an extremely simple method to decrease friction and boost revenue for your web site.
Just make sure you enable Link in the settings of your Stripe Dashboard. Make sure that it's turned on in the Settings. These two little steps can send you on your way to lots of increased revenue.
Take a look at our knowledge Base as well as the Link to Stripe FAQs to learn more and start your journey.
Take Action Now!
Begin to earn money for the content you produce.
Have you added Stripe Link to your site Have you done so yet? We'd love to know how you're doing. Let us know in the comments.