Reduce Cart Abandonment with Passkey Authentication
Reduce Cart Abandonment with Passkey Authentication
Matt Lourie, Sr. Director of Engineering
Passkey authentication is a solution to streamline the login and registration process, enhancing the overall user experience.
Developers of e-commerce web applications constantly face the challenge of improving user experience and increasing conversion rates. One common issue that online businesses struggle with is shopping cart abandonment. This blog explores the impact of complex login processes on cart abandonment rates and introduces passkey authentication as a solution to streamline the login and registration process, enhancing the overall user experience.
The Problem With Shopping Cart Abandonment
A recent study conducted by the FIDO Alliance sheds light on the significant losses faced by online retailers in the U.S. due to complex login processes. The survey found that 58% of shoppers abandon their carts and halt their purchases due to difficulties encountered during the sign-in process. Password-related frustrations, such as forgetfulness or the need to create new accounts, deter consumers from completing transactions. Additionally, 28% of respondents expressed that the hassle of setting up and remembering new passwords would discourage them from signing up for a new account. The study reveals a clear need for a simpler and more convenient authentication solution.
The Power of Passkeys
Passkeys offer a practical solution to address the challenges associated with complex login processes. Passkeys are a new and better way of signing in to websites and apps without passwords. They are unique digital keys that are stored on your device and verified with your biometric sensor, such as your fingerprint. Passkeys are more secure and convenient than passwords because they can’t be reused, guessed, or stolen.
In the study, consumers expressed a preference for on-device biometrics, such as fingerprint or facial recognition, as alternatives to passwords. These methods were perceived as quicker and easier to use, with 68% believing they were more expedient than traditional two-factor authentication. Retailers that offer on-device authentication were seen as more invested in customer experience, privacy, and security, and were more likely to be recommended to others. Passkeys help retailers stand out from competitors and create a positive brand image.
By eliminating the need for users to remember multiple login credentials, passkeys significantly enhance the overall user experience and encourage repeat visits. Users no longer have to struggle with password-related frustrations, leading to increased customer satisfaction and reduced cart abandonment rates.
Nok Nok Makes Implementing Passkeys Easy
Contrary to popular belief, implementing passkey authentication doesn’t require extensive coding or technical expertise. To help web developers, we have created a comprehensive video tutorial as part of our learning series. Our video tutorial demonstrates the step-by-step process of adding passkey authentication to your web app. Watch our video today, sign up for a free trial, and unlock the potential of passkeys to boost your conversions and improve customer satisfaction!
