Payments firms have introduced buy buttons to streamline the online checkout process, but so many have done so that it can have the opposite effect.

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Business Insider Intelligence


This led companies to introduce buy buttons so consumers could skip the cumbersome, labor-intensive steps required to input contact and payment information online, and to allow them to shop online more freely.

But the array of options has become overwhelming. Firms such as Mastercard, Visa, Apple, Amazon, Walmart, point-of-sale (POS) financing providers, and many more have developed buy buttons for their payment methods. This glut undercuts the convenience buy buttons are meant to introduce, as consumers don’t know which option will be available where, and they must search crowded checkout pages for their desired option.

To address this problem, the major card networks have joined to introduce Secure Remote Commerce (SRC), which will provide a singular consistent buy button. EMVCo — which is owned by American Express, Discover, JCB, Mastercard, UnionPay, and Visa — developed SRC specifications, resulting in a standardized buy button and payment process that can be deployed by any merchant and accept credit and debit card payments from the six card networks.

The consistency that the SRC-powered buy button can provide for consumers, which has been compared to the way in-store terminals accept payments from numerous networks, may remove the issues created by the overcrowded buy button market and transform the online retail payment process.

In The Buy Button Report, Business Insider Intelligence lays out what SRC and its buy button are, how the button works for both consumers and merchants, and the obstacles between it and widespread adoption. We then analyze what the environment for buy buttons looks like after SRC’s introduction, what the impacts of its debut are, and what firms will benefit and be hurt by it. Finally, we present recommendations for card networks, competing digital wallets, merchants, and payments service providers (PSPs) on what they can do to succeed now that the SRC-powered buy button has launched.

The companies mentioned in this report are: Adyen, Affirm, Afterpay, Amazon, American Express, Apple, BigCommerce, Cinemark, Discover, EMVCo, FIS, Global Payments, Google, JCB,  Kendra Scott, Klarna, Mastercard, Movember, PayPal, Rakuten, Sears, Shopify, Splitit, Stripe, UnionPay, Visa, and Walmart.

Here are some of the key takeaways from the report:

  • The sheer number of buy buttons available has resulted in a fragmented market and potentially undercuts their value.
  • The SRC-powered buy button has the potential to streamline online checkout for consumers and boost conversion for merchants. Its value to both parties is predicated on its availability and acceptance, making gaining adoption a key initiative for its success.
  • The new buy button could drive e-commerce sales, increase access to various payment and checkout solutions, and disrupt the existing buy button landscape.

In full, the report:

  • Examines the buy button market prior to the introduction of the SRC-powered buy button.
  • Lays out what the new buy button is, how it works for consumers and merchants, and what obstacles there are to its adoption.
  • Identifies how the SRC-powered buy button will impact the payments landscape, which includes its effects on conversion, online shopping on emerging devices, e-commerce fraud, and more.
  • Considers how payments stakeholders can succeed now that the buy button has introduced by looking at both firms that back and use the buy button, and those that compete against it.

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