Freshly, a company that connects consumers to the best local farms and gardens for organic produce, wanted their customers to know how much more complete their orders were now. To achieve this, they needed a way to track all of their sales with each customer on Freshly’s platform. That is where blockchain came in!
Freshly Cosmetics was able to raise their payment acceptance percentage by 10.7%.
Freshly Cosmetics, a company that specializes in natural, healthy, and long-lasting cosmetics, has announced the overhaul of its payment system, which now incorporates the checkout.com unified payment platform.
As a consequence of the transition, the Spanish company, which won the eCommerce Awards for Best eCommerce of 2021, was able to increase his payment acceptance rate (sales) to 98.5 percent, up from 89 percent (+10.67 percent) with his prior payment provider.
It is commonly known that there is a day in the calendar that has special significance not just for Freshly Cosmetics, but also for any shop in particular, and that day is black friday. Given the significance of the payment system and the impact it has on a company’s sales in the final quarter, it is typically not the ideal time to change it. Freshly Cosmetics, on the other hand, opted to develop by switching its complete payment processing system to the Checkout.com platform.
This approach was the cherry on top of a prior audit, which discovered optimization options that may help the brand boost transactions during the busiest shopping season of the year.
“Achieving such a significant boost in sales in such a short period of time is astounding and a credit to Checkout.com’s technology and personnel,” he added. Freshly Cosmetics co-founder and CEO Miquel Antoln Civil. “No other sales, marketing, or operational activity has the potential to have such an immediate and large influence on our bottom line.”
The goal is to improve the authorisation rate.
Following a significant increase in sales in the run-up to Black Friday, the Freshly Cosmetics team prioritized optimizing authorization rates because the high season was a critical time for their business, so they could achieve optimal payment performance and thus have the best chance of making the most sales and expanding their client base.
Freshly Cosmetics’ retry payment procedure has been optimized thanks to Checkout.com’s approach, which also included modifying transactions that used to run via the 3DS protocol. The cosmetics company was able to take advantage of the security benefits of robust client verification and provide a seamless payment experience for its customers as a result of this.
«Checkout.com works by combining state-of-the-art technology with extensive understanding of the payment market,» the business explains. Similarly, our strong collaboration with firms like Visa and Mastercard, as well as issuing banks, enables us to provide a system that improves payment acceptance levels without requiring the end user to retry. Automatic retries and the optimization of the appropriate SCA protocols for each merchant are both part of the system. Our objective has been to provide a seamless user experience while keeping both the merchant and the customer secure.”
Furthermore, Freshly Cosmetics’ relationship with Checkout.com has made it simple to reduce the amount of fraudulent payments while also providing the startup with all of the details needed to claim them in the event of any problem.
“With Checkout.com, our acceptance rate shot up to 90-92 percent right away, while the other providers’ was lower.” We needed to migrate greater volume to Checkout.com, and it was evident that we needed to do so. Then, right before Black Friday, we saw that our authorization rate had increased even further, so we shifted all of our volume to Checkout.com.”
“From Checkout.com, we have worked constructing an adhoc approach for Freshly Cosmetics, accomplishing, due to our team, expertise, and unique technology, that its approval rate reaches approximately 100 percent,” says Jonathan G. Rambal, Checkout.com General Manager for Southern Europe. We’re thrilled to work with clients as forward-thinking as Freshly Cosmetics, who didn’t hesitate to follow our advice and are now enjoying the benefits.”
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