As the growth of e-commerce sales continues to outpace brick-and-mortar, having a seamless online checkout process is more crucial than ever.
Online checkout has become inundated with payment options and data entry points, which leads to poor e-commerce conversion and frequent cart abandons.
In recent months, one proposed solution has garnered support from major card network rivals Visa, Mastercard, Amex, and Discover. That solution has been dubbed Secure Remote Commerce (SRC).
SRC is a set of specs that attempts to standardize e-commerce checkout across sites and devices. Instead of having payment information scattered across providers, SRC aims to put the entirety of customers’ wallets in one place.
In The Future of Retail: Online Checkout slide deck, we outline SRC-enabled checkout and explore how the concept could either take off or burn out.