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TapBuy, a new checkout technology that stores shoppers’ billing and shipping preferences, has been licensed by TheFind. Launched in November 2011, TapBuy is designed for developers, shopping aggregators and retailers, and can be embedded within users’ mobile applications. Using cloud-based technology, the TapBuy application forwards order and payment information to the merchant in real time.
Touted as a “10-second online shopping” tool, TapBuy was developed and launched by Kima Labs, a company founded by Amazon.com veterans Blake Scholl and Jason Crawford. In early trials, TapBuy has increased sales conversion for retailers up to 15 times, according to the company.
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In December 2011, TheFind Mobile licensed TapBuy and launched it in the company’s iPhone comparison-shopping app. TheFind app combines barcode scanning and text search with online and local price comparison. By incorporating a new TapBuy “Deals” tab in the application, TheFind now allows shoppers to view special online and local deals. With a TapBuy account in place, shoppers can then make purchases and check out in one step by confirming a PIN.
One significant hurdle for mobile shoppers has been the need to input information numerous times on a small screen, such as usernames and passwords, billing and shipping addresses, and credit card information. TapBuy solves this dilemma by storing consumers’ billing and payment in a server-side wallet, so that consumers only are required to enter their personal information once.
TapBuy, available as a software development kit (SDK) for retailers, developers and shopping aggregators, can be adapted by any retailer that currently operates an e-Commerce web site.
