The online flash sales company Veepee partners with Checkout.com to streamline Strong Customer Authentication. So, pose achieve a better shopping experience for your buyers and customers and increase sales.
In addition to complying with the requirements of the new payment regulations, thanks to this association, Veepee has improved conversion and acceptance rates, generating improvements that allow them to optimize the success rate of their payment system and resolve incidents with certain issuers of cards.
“We were concerned about the impact that the additional layers of authentication needed to meet SCA requirements would have on the customer journey,” has detailed Paul Guérin, Head of Group Treasury, Financing, Payments, Fraud Management and Deputy Group CFO at Veepeeand added that “One of the most notable consequences was the large increase in cart abandonment, which resulted in a notable loss in sales, hurting the company’s bottom line.”
A customized SCA strategy
To avoid cart abandonments, Guérin and his team began to design, together with Checkout.com, a personalized payment solution strategy that would avoid maximum inconvenience for customers. “We have always been fascinated by Checkout.com’s innovative processes and in-depth knowledge of the European markets. So we were confident that they would have the technology and expertise to help us create an optimal SCA strategy.”has assured.
From Checkout.com they analyzed the company’s payment flows to find out which transactions were subject to the SCA and which were not. Once these were identified and classified, the next step was to implement Transaction Risk Analysis (TRA) to create frictionless payment flows for low-value transactions, which fall within the scope of the SCA.
Enabling TRA was the missing piece to complete our SCA strategy. It has been shown to be a key element in delivering a frictionless payment experience for low-risk transactions. We are deeply grateful to Checkout.com for their tremendous effort in revising their development roadmap and helping us implement TRA faster than expected.
More than 20 years of online experience
Founded in the early 2000s by Jacques-Antoine Granjon and his partners, Veepee, which currently manages to attract more than 66 million customers a year, offered an alternative online store approach that consisted of selling clothes from other seasons or stock surpluses for limited periods of time, the so-called flash sales.
In order to continue with its upward trend, the online platform’s main objective is to take care of the experience and customer service. To achieve this, they are committed to “creating the surprise factor” and, they assure, that payments represent a fundamental element to achieve it.