A partnership between Chase and Bigcommerce means that the Chase Pay service and WePay payments will become available to online merchants in the USA. This means that 61 million Chase Visa credit and debit cardholders will be able to complete the BigCommerce checkout more quickly with their Chase credentials.
In addition, WePay will be offered as an integrated payments option to BigCommerce merchants, allowing them to accept payments instantly. The plan is to make Chase Pay and WePay available to BigCommerce retailers by summer 2018
Adding Chase Pay as a checkout option will allow retailers to engage with customers through their own loyalty programmmes while making their mobile and online shops more accessible to Chase customers. Of particular importance, with Chase Pay, eligible customers can also redeem Chase Ultimate Rewards proving them with more redemption options and greater spending power at checkout.
Checkout optimization represents one of the single biggest challenges that online retailers continue to face. One way that BigCommerce is driving superior conversion rates is by giving merchants and their consumers access to the industry’s most trusted payments technologies. Not only does WePay simplify and speed up the checkout process on merchant sites, but as part of the Chase family, it gives consumers more confidence in their online purchase decisions.
– Russell Klein, chief development officer at BigCommerce
BigCommerce says it powers B2B and B2C ecommerce for more than 60,000 brands, 2,000+ mid-market businesses, 30 Fortune 1000 companies and industry-leading brands, including Ben & Jerry’s, Paul Mitchell, Skullcandy, Sony and Toyota. It has successfully attracted $64 million in new investment. The funding round was led by Goldman Sachs and includes money from current investors General Catalyst, GGV Capital and Tenaya Capital. The new round means that all told BigCommerce has now raised more than $200 million to fund the business.
It seems that the online payments market, especially where it comes to payment options in online shop providers and ecommerce platforms, is becoming increasingly competitive. Only a few weeks back the full might of Klarna was unveiled as a newly available integration with Magento.