on May 12 2014
Two Tap can work seamlessly outside of mobile, it works on any platform in any app. As long as the consumer has their wallet stored with us, they can retrieve that wallet with a few digit confirmation via SMS and make purchases anywhere.
We really have to play nice with everyone in the market by being responsible and not losing any data as we represent them. The merchant sees the same standard data from the consumer and the consumer has the same relationship with the merchant. We place the order in the customers name and mirror the usual experience. The customer gets the same confirmation email, the same details in regards to product returns, and the same customer service. We merely streamline the process, and take it down to two steps.
The main problem for existing wallets out there, Google Wallet and Paypal for example is they require a deep integration. We don’t cost a retailer anything by sitting on top of their existing payment processor. All the effort is in our court, they have to do nothing to integrate. They merely let us expose their inventory to all app developers out there.
Our thesis - the basis of our company is that while we’re building this platform is we want every party involved to have as little technical input as possible. Currently merchants must choose from competitors like Amazon, Google Wallet, and Paypal and then integrate these checkout applications deep into their platforms. We avoid that headache by building an umbrella that sits effortlessly on top of all ecommerce.
Currently app developers put up a link to the merchant website, which is enriched with the affiliate tags, and campaign ID. To use Two Tap, all they need to do is take that link and pass it through us. Our API identifies a cart by the product link alone.
Instead of pointing the URL to the merchant website, they merely point it to our API which takes that URL, interprets it and opens the cart. This fixes a number of problems. On the affiliate side we eliminate fraud by attributing the sale instantly as opposed to dropping a cookie. We’ve also built a global shopping cart allowing the consumer to buy multiple things from multiple retailers with the same shopping cart in just two steps. Affiliates can now push items from multiple retailers allowing the consumer to order all items at the same time. All of this was never possible before.
We’ve built a global shopping cart allowing the consumer to buy multiple things from multiple retailers with the same checkout in just two steps. Affiliates can now push items from multiple retailers allowing the consumer to order all items at the same time. All of this was never possible before.
There are companies that have tried to do this on a per integration basis. Cosmic Cart and 72Lux are two examples that come to mind who went after big publishing companies. But other competitors include anyone that make shopping easier for consumers. As for direct competitors it’s mostly internal tools, and other wallets which are becoming less and less significant unlike them we never charge the consumer and seamlessly integrate for free with merchants.
We make money by taking a commission from the app developers using Two Tap. App developers typically take between 5%-15% depending on what they’re selling. We take 15% cut of this commission.
Our biggest challenge is having all our app developers, everyone who integrates us, on the same page in the regards to best integration practices. This includes communicating to the user, the best experience for the user, and eliminating confusion around how Two Tap works. Generally we need app developers to provide a user experience we are happy with. Thankfully we can gather a lot of data of what works, and use this to continually optimize our process and our integration with app developers.
We’re able to sit across many different apps, and are able to gather data from all of our integrations allowing us a high level view of what works and what doesn’t. It’s not just being able to see what works as an app developer, but it also enables us to provide all kinds of data for merchants. We can see the entire e-commerce process and help all players optimize their sales and user experience.
Our users are any apps that have an e-commerce layer to them, either by showcasing products or having consumers interact with their products and then generating that intention to buy. There are also many other engines of growth, for instance integrating Two Tap into a browser might allow the consumer to check out in two steps on any site.
We have over one hundred app developers that have all been vetted, all with at least 500,000 users. It’s not the small app developer that is coming after us, our sweet spot is the medium to large size app developer with payroll that is actively looking for revenue.
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