Image source: Miss Sixty
In a bid to boost their e-commerce sales, Italian fashion brands Miss Sixty and Energie (both owned by Italian fashion distributor Sixty Distribution) have partnered with UK-based mobile payments company Powa Technologies to make mobile payments instantaneous.
Consumers who download Powa Technologies' free PowaTag app will be able to purchase products at the tap of a 'buy now' button directly from the brands' e-commerce sites and email newsletters. Consumers pre-register their credit card details and shipping addresses, making the super-quick purchasing process possible. The service is now available in 24 countries worldwide, including Italy, the UK, France and Germany.
The move will soon be followed by the integration of the PowaTag system in physical stores. Users will be able to scan product labels embedded with electronic tag technology with their smartphone cameras for instant checkout.
PowaTag is also currently working with French supermarket chain Carrefour and UK supermarket chains Tesco and Waitrose, and has previously worked with men's underwear label 2(x)ist on shoppable ads.
Speedy payment technologies are gaining traction among retailers, especially when it comes to e-commerce, as the average online shopping abandonment rate has reached more than 68%, according to a 2015 study by Dutch research firm Baymard Institute.