Bolt, an online payments platform founded in 2016 by Ryan Breslow and Eric Feldman, has rolled out an all-in-one payments platform that integrates payment, checkout and fraud detection systems.
Bolt claims that the newly launched platforms offers an ‘Amazon-like’ checkout experience with fewer fields required to make payments, and an easy-to-navigate user interface to lower cart abandonment.
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By GlobalDataThe platform, according to the company, features an anti-fraud technology that facilitates more qualified transactions and offers access to more data across checkout and payment.
Riding on its anti-fraud technology, the company said it will offer merchants “zero-fraud guarantee”.
Bolt CEO and co-founder Ryan Breslow said: “The way online commerce works today is, frankly, embarrassing. The ‘layered’ ecommerce philosophy is completely crippling businesses, rendering them unable to innovate. Bolt is redefining the way online retailers and merchants approach their payments infrastructure and fraud detection by eliminating the layers and replacing them with one seamless product.
“And this isn’t just for merchants. For the millions of consumers, we are powering a seamless, Amazon-like checkout experience that will dramatically reduce headaches, increase the speed at checkout, and virtually eliminate false positives and declined transactions.”
Bolt said it will charge a single-percent fee per transaction and will also match the processing fee of the merchant’s current provider.
