There may be better ways to encourage cart abandonment than requiring customers to fill out forms in order to complete online transactions. But I doubt it. And if the consumer is on a mobile phone or tablet, the problem is even worse.
To this end, Equifax has teamed up with fellow Finovate alum Jumio to provide a set of solutions that will make it easier for mobile device users to safely and securely auto-fill information on their devices.
Two of Jumio’s technologies – Netverify and Netswipe – will be integrated with Equifax’s 1-Touch Services and Mobile Wallet. The 1-Touch integration will enable auto-fill of personally identifiable data. The integration with the Mobile Wallet will allow users to either scan their cards with their smartphone or complete the transaction in person at the point-of-sale with their smartphone.
The partnership was driven at least in part by Jumio’s research, it seems. The company’s Mobile Consumer Insights Study found in 2013 that nearly 47% of consumers blamed their cart abandonment on the inconvenience of entering personal data into forms on mobile devices.
Jumio was founded in 2010. Based in Palo, Alto, California, the company specializes in credentials management that is geared both toward minimizing fraud and reducing friction for consumers. Daniel Mattes is founder and CEO.
Equifax became a Finovate alum as a presenter at FinovateFall 2011
in New York. The company’s B2C unit, Personal Solutions, demoed Equifax Complete
, a credit score monitoring and fraud alert solution accessible via the company’s mobile app.
Last on the Finovate stage in February (FinovateEurope 2014
), Jumio is among the companies that will be demoing its technology at the upcoming FinovateSpring show in San Jose, California, April 29 and 30. For more information on how to see Jumio’s demo live and in person, visit our FinovateSpring 2014 page