Creative Group: Growing globally with Adyen Acquiring
In 2011 Fillip Tysander created a line of classic, customizable watches carrying the name of his muse: Daniel Wellington, a British-born world traveller with a classic, old-world style.
Founded in and operating from Sweden, within three years it was selling watches across 144 countries and all continents.
A key element for this meteoric growth was a payments-first strategy: going live with local payments in each new territory, in some cases even before launching a local website.
While Daniel Wellington sells to customers all over the world, it has always been important to the company to interact with customers at a local level, in their own currency and language.
To offer a fully localized experience therefore, it would have to offer local payment methods as well.
"Adyen helps us to evaluate and identify key payment methods in each market."
A payments technology partner was needed that would allow Daniel Wellington to continue its rapid international growth, whilst maintaining a local approach.
Adyen, with offices distributed across key markets worldwide, a strong understanding of local payment cultures and support for all popular payment methods, was the ideal fit.
Initially focusing on Europe, Daniel Wellington partnered with Adyen to launch key local payment methods and rollout customized payment pages in countries including Poland, Russia, Germany and Portugal.
The introduction of local payment methods generated a direct increase in sales. In Poland for example, the use of online banking solutions such as Dotpay by far outrank international credit cards and represent more than half of all Polish transactions.
In some countries, only a small proportion of shoppers have an international credit card, with the majority using online banking solutions such as SOFORT in Germany and Multibanco in Portugal. Support of these methods has given Daniel Wellington much greater penetration into these markets.
“It has always been a key objective for us to allow customers to use their preferred payment methods. Following our partnership with Adyen, we are now accepting over 24 local payment methods across our global markets. Adyen helps us to evaluate and identify key payment methods in each market and customize the selection,” said David Vallin, head of ecommerce at Daniel Wellington.
As the world’s biggest ecommerce market, with over half a billion online shoppers, China presents an enormous opportunity for any growing ecommerce business.
Yet, the vast majority of shoppers do not use international credit cards for online payments, and local payment methods such as Alipay, UnionPay and Tenpay account for 80% of online transactions.
"Thanks to Adyen, we have been able to enter the Chinese market quickly and easily.”
Adyen’s end-to-end support of Tenpay, and direct connectivity with Alipay, means that Daniel Wellington can support these key local payment methods both online and on mobile – which is crucial as mobile is rapidly becoming a dominant payment channel for Chinese shoppers.
“After identifying a potential market, speed is crucial," said David. "Thanks to Adyen’s integration with Alipay and Tenpay we have been able to enter the Chinese market quickly and easily.”
As Daniel Wellington grows in terms of revenue, its fraud profile becomes more complex. With Adyen, it benefits from a comprehensive risk management system RevenueProtect, which is built directly into the Adyen payments platform.
RevenueProtect evaluates the whole payment flow and intelligently identifies potential fraudsters who require further scrutiny. This selection criteria is based on a combination of machine learning and pre-defined parameters set by Daniel Wellington.
Furthermore, RevenueProtect's ShopperDNA system consistently monitors good and bad users across sessions and ensures that previously identified good shoppers are trusted and known bad shoppers are stopped in their tracks.
With Adyen as a partner, Daniel Wellington has successfully expanded across Europe and into Asia. It will now apply its payments-first approach to enter other key markets around the world. And, as the company continues to grow, Adyen’s scalable solution will expand to match its needs.
Further, Adyen's technical integration Easy Encryption allows Daniel Wellington greater flexibility and control. It enables a direct connection from the company's payment page, while all sensitive payment data is captured and securely stored on the Adyen platform.
The result is a frictionless payment flow while Adyen does the heavy lifting in terms of PCI compliance.
“It is vital that our partners are able to adapt their services to match our growth," said David. "Flexibility and scalability are key during this exciting period of international expansion, and Adyen is an ideal partner for us. With excellent integration options, and an arsenal of optimization tools, we are sure that payments will remain a integral part of our strategy moving forwards.”
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