“GoDaddy is one of three commerce providers Microsoft selected for this launch, citing GoDaddy Payments’ rapid growth as a leading payments provider in the U.S. as a key reason,” the company said in a news release Monday (May 1).
The service helps small- to medium-sized businesses (SMBs) get paid faster by syncing their GoDaddy Payments account with Microsoft Teams’ new payments app. The company said in the release the service is “ideal” for real-time, service-based operations.
Making payments more efficient for SMBs is critical at a time when a wide majority of consumers say satisfying experiences during checkout are a major determiner of whether they’ll keep patronizing a merchant.
“If you look at the checkout process today, it’s a big point of friction,” Karma Co-founder and CEO Jonathan Friedman told PYMNTS last year. “You need to put in your input, you need to sign up, you need to add your credit or debit card, which is why [merchants] still experience around 75% shopping cart abandonment.”
PYMNTS research with Checkout.com — as reported in “Building a Better Online Checkout Experience: The Key Features That Matter to Customers” — found that close to 75% of consumers used their preferred purchase method in their latest online checkout.
GoDaddy’s partnership with Microsoft comes two weeks after the company teamed with Apple to integrate Tap to Pay on iPhone with its app to let businesses accept payments without having to buy additional hardware.
“Based on our data, more than half of all in-store purchases are now contactless, making it a favorite way for consumers to make payments in-store,” Osama Bedier, president of GoDaddy Commerce, said at the time. “Many of our U.S. customers already have an iPhone. By adding Tap to Pay on iPhone to the GoDaddy mobile app, we will enable millions of small businesses to accept in-person payments without having to purchase additional hardware. That matters in this climate.”
In March GoDaddy and Worldpay joined forces for the launch of Commerce 360, a tool that combines GoDaddy’s “omnicommerce” solutions and Worldpay’s payment tools to streamline selling online and in-store, while providing insights to improve the customer experience.