What is Fast?
Fast was created to solve the broken e-commerce checkout process that wastes time for consumers and costs merchants billions of dollars in lost sales. E-commerce is a nearly 30-year-old industry, and yet you still can’t buy something online without having to pull out a credit card or remember a password.
Fast’s one-click login and checkout experience is the easiest way to buy something online. Sign up once, and then you’ll never have to enter your payment information or remember a password again.
How does Fast work?
Fast is all about simplicity. It strives to make it easier for merchants to sell and for consumers to buy. There’s a growing volume of online purchases – in 2019, more than 10 percent of total global purchases occurred online, a figure that’s projected to nearly double in the next decade – yet the user experience is still essentially what it was nearly three decades ago.
Fast is changing that.
Fast enables secure, one-click access for users without requiring a password to log in. You sign up just once, and Fast securely remembers your account and payment information, which can be used across all platforms, browsers and devices.
Fast Login, our free one-click login tool, is available now and already in use. In the next few weeks Fast will be releasing a new product, Fast Checkout, which will unlock one-click purchases.
Where did the idea come from?
Fast was created to solve the vexing problem of e-commerce checkout that requires people to constantly enter payment details and passwords.
Fast’s co-founder and CEO, Domm Holland, recognized the extent of this problem when his grandmother-in-law, trying to help out while one of his kids was in the hospital, couldn’t order groceries online for the family because she couldn’t remember her password.
Domm knew there had to be an easier way to access online accounts, without compromising trust or having to remember myriad passwords.
Allison launched Uber’s instant pay product that enables drivers to receive payment 24/7 as soon as they complete a trip and was passionate about finding new ways to reduce friction in all payment processing experiences.
Who's the team behind Fast?
Fast was created by software and payments experts from Uber, Square, Visa, Shopify, and Postmates. In addition to Domm’s extensive experiences in entrepreneurship and technology, co-founder Allison Barr Allen led global product operations for Uber’s payments team after initially joining the Operations team in Chicago. Allison’s five-year Uber tenure provided an invaluable perspective on how to launch and scale global payments products that are intuitive and reliable, a process she’s replicating at Fast.
What's the main problem you solve?
E-commerce is almost 30 years old, but the checkout process has barely changed. In this age, you should be able to buy something online without having to pull out a credit card or remember your password.
Customer experience is the strategic battleground for the $3.5 trillion global e-commerce market. It’s 2020, and yet online merchants still struggle with cart abandonment, a rate most estimates peg at 80 percent of potential purchases. Checkout is the main culprit. There’s a huge need and economic opportunity for merchants to reduce this friction between selecting an item you want to purchase and actually buying it, to allow businesses to better compete with large scale platforms.
Fast solves this issue. Fast works on any device, platform or browser. This platform agnostic approach enables merchants to deliver a seamless, trustworthy purchase experience that occurs in a fraction of the time of traditional online purchases.
How long does it take to deploy Fast?
Merchants can integrate Fast Login with their website in a matter of seconds. Deploying Checkout is also a straightforward process. And for consumers, they only need to enter their basic information such as shipping address and payment card once and they won’t ever have to do it again for any site that uses Fast.
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