With the aim of making online shopping more efficient, Fast is partnering with vendors so that people can skip the process of filling out their credit card details each time
Spotted: In the midst of the COVID-19 pandemic, many people have turned to online shopping, for both ease and safety. The one downside is having to fill out your information and credit card details every time you shop from a new site. Working towards a solution where people can just register once and then log in to pay for things on multiple sites, universal checkout company Fast, backed by fintech juggernaut Stripe, launched Fast Checkout in September to make online purchases more efficient. E-shoppers simply have to create an account with Fast, which will then allow them to make payments with one click on all of its partner websites.
When a customer sees a Fast Checkout button on a website for the first time, they can click on it to enter their personal details and credit card information. Following this, details will not have to be entered again on any site with the button. Fast is then able to track the customer across sites and devices using cookies, IP addresses, and their email address. Customers can also easily keep track of all their purchases, which are recorded in their “Fast Feed”. Most importantly, Fast is committed to not funnelling the data it collects back to advertisers and instead makes its money by getting a portion of the service charge that is shared with Stripe.
Fast Checkout has not been widely adopted yet, but the company has started rolling out to the 60,000 merchants on Stripe’s platform. In the future, Fast hopes to create a universal subscription manager that allows users to keep track of all their subscriptions in one place, simply by pushing a button to enter all of their information when they sign up.
Written By: Serafina Basciano