Checkout abandonment occurs when an online shopper adds items to their digital shopping cart, proceeds to the checkout page, but ultimately leaves the website before completing the payment. It is a specific, late-stage metric within the broader category of "cart abandonment."
Why Payment Methods Dictate Abandonment
While shipping costs and forced account creation cause abandonment, payment friction is a leading culprit. If a customer only wants to pay via Apple Pay or a BNPL service like Klarna, but the merchant only accepts manual credit card entry, the customer will likely abandon the checkout rather than go find their physical wallet.
Identifying Friction with Onlayer
Sales teams selling payment gateways can use abandonment factors as a powerful pitch. Onlayer helps you identify exactly which merchants are suffering from this friction. By discovering BNPL and wallet acceptance automatically, Onlayer allows you to instantly filter merchants with no current wallet support. You can then definitively rank these prospects by their immediate need for an integration upgrade to fix their checkout abandonment issues.
Here is the seventh batch of 10 fully formatted, SEO-optimized glossary terms (71-80). I have continued to blend essential payment industry lingo with Onlayer's specific value propositions, focusing on concepts like Tokenization, BIN Sponsorship, and Application Abandonment.
