Flying under the radar amid a flurry of announcements coming out of the Google I/O developer conference this morning, is the bigger news of how Google is stepping up its efforts to compete with online payment giants like PayPal with a revamped checkout process for the web, mobile web, within mobile applications running on Android, and more. It’s a proposed death to PayPal by a thousand cuts, leveraging everything from Chrome to Android and even Gmail. What Google hasn’t quite worked out yet is how all this will tie together in the long run, but you can see the plan beginning to form. #1: Google Wallet On The Web: Storing Payment Credentials In Chrome Lets start with the browser, the de facto home for online shopping. It’s not news that the checkout experience is broken. Shopping cart abandonment is one of the biggest pain points for today’s merchants, mainly because their websites have traditionally offered only cumbersome and tedious forms for shoppers to fill out in order to make a purchase. As noted during today’s keynote, one of the hardest things you can do on the web is try to buy something. The process takes around 21 steps, the company explained. Of course, Google is exaggerating here a bit – billing and shipping details are usually the same, but Google counted each field (street, zip, etc.) twice. That being said, things are even worse on mobile. Google notes that shopping cart abandonment on mobile devices is now an outrageous 97 percent. Again, that seems high (here’s the source for that figure), but the trend Google is illustrating with these slightly puffed up figures is not. For comparison’s sake, Monetate’s data put global cart abandonment at around 82 percent as of Q4 2012. The company has been seeing increases in cart abandonment – which had been around 60 percent over the past several years – due to an increased number of shoppers doing research on mobile phones and other devices. As they reach the point of checking out on mobile, they’re now more likely to give up and move on because of the increased difficulty of the experience on mobile’s small screen, combined with retailers’ failure to roll out mobile-optimized experiences even as percentages of mobile shoppers continue to grow at record rates. A number of startups have been attacking this challenge in various forms – mobile apps featuring universal carts,Source: http://feedproxy.google.com/~r/Techcrunch/~3/tIp9jzsOCLI/
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