144 billion… That number is impressive in almost any context (like the approximately 144 different types of coffee generated by four coffeemakers in our Boston office of just 65 people), but our research turned up something interesting as it relates to payments: In 2015, the number of U.S. noncash (debit card, credit card, ACH, and check payments) payments is estimated to have totaled more than 144 billion, with a transaction value of almost $178 trillion.
Cart abandonment is a problem. As we shared in the intro, it is estimated the average store loses over 75% of sales due to cart abandonment. More detailed studies show some industries losing as much as 83.6% of potential sales due to cart abandonment
If you are unfamiliar with cart abandonment, it is a common behavior in eCommerce shopping where a shopper adds an item to their cart, but fails to complete their purchase.
Below we share some comprehensive resources on why customers abandon sales.
ECommerce business owner outgrowing Stripe and looking for a better payment processor
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