Eat24 exec: Google Wallet Instant Buy for iOS apps a game changer
Despite the fact that Google’s digital wallet has so far struggled to catch on with consumers and merchants, the technology company continues to bring out new features and functionality with the hope that something will catch on with mobile users. Instant Buy, which was introduced earlier this year for Android apps and the mobile Web, makes checking out from a mobile device easier, with the process often taking as few as two clicks.
“From what we saw so far, when it was limited to Android, the numbers, the results were pretty good for the Google Wallet,” said Amir Eisenstein, social media chief at online food delivery service Eat24. “And iOS, in general, the numbers are a little bit better than Android in the market.
“From what we see right now, we believe that Google Wallet with iOS is going to be a game changer for Google Wallet as far as the break out for them,” he said.
“So far they have been flying under the radar. I think that iOS is going to bring them up from this stage.”
One of the challenges in driving transactions from mobile devices is how difficult it can be for users to type in their shipping and billing information on a mobile device, resulting in statistics such as that 97 percent of mobile shoppers abandon their shopping carts.
The Google Wallet Instant Buy API enables developers who already have a payment processor but want to simplify the checkout process to give their customers a way to checkout without having to manually enter their billing or shipping information. Google Wallet sends this information to the developer with the user’s permission.
The checkout solution works with existing payment processors and does not include any Google fees.
Since becoming available for Android apps, it has been adopted by a number of merchants.
For example, RueLaLa saw purchase conversions increase by four times for Google Wallet users on its Android app after integrating Instant Buy. More than half of Google Wallet users came back and made repeat purchases within a matter of weeks.
After Eat 24 integrated Instant Buy, it found that Google Wallet users had an 11 percent higher average order value than that of credit card purchasers on its Android app.
Both merchants typically see a high percentage of sales coming from mobile devices.
Google has been working with a several early partners in bringing Instant Buy to their iOS apps, including B&H, Eat24, Fancy, Newegg, Sionic Mobile and Wish.com.
Google Wallet was initially introduced as near field communications-based solution for enabling in-store contactless payments.
However, with NFC struggling to gain adoption, Google has been building out functionality for the digital wallet to include loyalty, offers, online payments and now checkout services.
By making Instant Buy more widely available on iOS, where users tend to be more transactional than on Android, this could help drive results for developers and bring Google Wallet greater acceptance.
“Since implementing Google Wallet last July, we’ve seen strong sales as a result – as many as 14,000 in a single month,” said Soren Mills, chief marketing officer at Newegg North America
“Initially our decision to implement Google Wallet was driven by our desire to acquire new customers loyal to Google – Android users in particular,” he said. “This effort has proven successful and we expect iOS integration to attract even more customers to Newegg.”
Chantal Tode is associate editor on Mobile Commerce Daily, New York