In today’s fast-paced online shopping landscape, where customers demand convenience and efficiency, the checkout process plays a pivotal role in shaping the overall shopping experience. Research indicates that online shoppers highly value a streamlined and swift checkout process for several reasons. The digital era has ushered in a culture of instant gratification, and customers increasingly prefer a hassle-free journey from product selection to order completion.
Recognizing the importance of a fast checkout, Shopify came up with a robust solution- the one-page checkout experience. And to further enhance this already impressive one-page checkout experience, Razorpay has partnered with Shopify to introduce MagicX for Shopify. This collaboration signifies a commitment to further elevating the checkout experience by making it faster and more efficient.
What is Razorpay MagicX?
Razorpay MagicX, meticulously crafted for Shopify, offers a tailored solution designed to elevate the checkout experience for Shopify users. Currently exclusive to Shopify Plus brands, it will soon be available to non-Plus brands in the near future. This innovative solution aims to enhance the efficiency of Shopify’s one-page checkout process, introducing several key benefits.
- 40% Higher Conversion: Businesses can expect a remarkable 40% boost in conversions through a checkout process that is 5 times faster. Razorpay MagicX achieves this by seamlessly prefilling contact, shipping, and payment information for 200Mn+ customers from across the Razorpay network.
- 50% Fewer RTOs: Businesses can reduce their RTO (Return to Origin) rates by up to 50% as MagicX dynamically disables Cash on Delivery (COD) for shoppers deemed to have a higher risk of RTO, based on Razorpay’s proprietary AI/ML based RTO risk model.
- 100% RTO Protection: If a MagicX order is returned to origin (RTOed), rest assured that you won’t bear all the financial burden. MagicX stands by you and will absorb the RTO costs.
- 20% Higher Share of Prepaid Orders: Utilizing Razorpay’s algorithm, MagicX will swiftly identify and flag potentially fraudulent and high-risk orders within milliseconds, mitigating the risk of RTO (Return to Origin) and avoiding order cancellations—the result- a 20% boost in prepaid order share.
Why Should You Try Razorpay MagicX?
Shopify’s current checkout process involves three steps: contact, shipping, and payment details. While essential, each step poses a potential hurdle, contributing to the pervasive issue of cart abandonment in e-commerce.
Alarming Cart Abandonment Rate & RTO Statistics
- 70% of customers abandon their carts, signaling a critical challenge in the conversion journey.
- Research indicates that online purchases experience a return rate of at least 30%, a stark contrast to the 8.89% return rate observed in traditional brick-and-mortar stores.
Addressing the cart abandonment and RTO challenges is paramount. MagicX is designed to tackle the root causes of cart abandonment and RTO, offering a solution that aligns seamlessly with the expectations of the modern online shopper. With MagicX, get ready to experience a remarkable 40% boost in conversions, driven by a checkout process that is 5X faster.
How is MagicX Different from Magic Checkout?
MagicX is built on top of Shopify’s one-page checkout experience and is currently exclusive to Shopify Plus brands. It’s a publicly available app on the Shopify app store and has been developed in close collaboration with Shopify.
Magic Checkout, on the other hand, is Razorpay’s comprehensive one-click checkout experience with its own user interface, and it is accessible to all direct-to-consumer (D2C) brands.
How to Get Started with Razorpay MagicX?
Embark on your journey with Razorpay MagicX by completing a quick form. Allow us to seamlessly guide you through the installation process, ensuring a smooth and hassle-free onboarding experience.
Maximize Sales – Choose MagicX!
Elevate your customers’ shopping experience and supercharge your order conversion rates with Razorpay MagicX. Don’t hesitate—seize the opportunity to transform your checkout process today! For any assistance or inquiries, feel free to connect with us at ✉️ firstname.lastname@example.org. We’re here to help you every step of the way. Let the magic begin!