Lag times to complete a transaction will be slashed to a fraction of a second from the six to eight seconds typically endured by mobile shoppers, according to PredictSpring.
Using a mobile-payments system like Apple Pay or Android Pay, PredictSpring’s buttons let shoppers get promiscuous as they purchase products all over the internet instead of getting bogged down at retail sites with slow, cumbersome log-ins and checkout pages, Mangtani says.
If PredictSpring is successful, that 80-80 world could arrive as soon as three years, according to Mangtani.
It will do so by powering the buy buttons recently announced by social networks including Twitter and Pinterest, directly linking the buttons to retailers’ payment and inventory systems.
A tide of so-called buy buttons promises to make it dramatically quicker and easier to buy stuff with a smartphone — upgrades that, one investor says, could make mobile shopping as fast and efficient as a sleazy hookup app.
In addition to Beanstalk Ventures, PredictSpring’s backers include billionaire Silas Chou, whose retail-focused investments have included Michael Kors and Tommy Hilfiger.
As PredictSpring looks to effectively transform ads into product listings across the Web, it is likewise launching a paid service for retail brands to build their own mobile apps for selling everything from apparel to lawn mowers.
Facebook and its Instagram photo app, as well as Google, are among the Silicon Valley giants said to be rolling out buy-button technology that could find its way onto countless shopping blogs, news sites and other online venues in the coming months.
“In an ideal world, mobile is going to get 80 percent of traffic, and it should get 80 percent of commerce as well,” he says.
Feeling dirty after that last shopping binge, or happy and satisfied? Whatever the answer, your smartphone could soon take it to a whole new level.
About 25 major chains have already signed up to create an app, according to Mangtani.
“Mobile shopping always has been all about ads,” Mangtani told The Post. “But now, instead of just looking at ads, every single ad will be shoppable and there will be a potential transaction associated with it.”
“The future of mobile shopping is going to be like Tinder, where you can just swipe and get what you want,” says Ken Seiff, a former top exec at Brooks Brothers whose firm, Beanstalk Ventures, has invested in a key provider of the new buy-button tech.
PredictSpring — whose early clients include Cole Haan, Eddie Bauer and Bluefly — is a Los Altos, Calif.-based firm founded by Nitin Mangtani, who previously was the visionary behind Google Shopping.
While 60 percent of Internet traffic now happens on mobile phones, only 15 percent of Web commerce takes place on mobile, Mangtani notes.