Adyen retail report: The checkout experience
Founded in 2006, the business has grown quickly, generating revenue of over 480 million euros in 2014.
Adyen partners with Showroomprive.com to offer local payment methods for ecommerce and mcommerce across a number of European markets, including Spain, Italy, Portugal, the UK, the Netherlands, Belgium, and Poland.
Working with Adyen has delivered the following benefits:
One of the most interesting aspects of the partnership has been the implementation of a dynamic approach to 3D Secure (a protocol that provides an additional security layer for online credit and debit card transactions).
3D Secure is often thought of as a conversion killer, and when applied to all transactions, on average it has a significant negative impact on conversion.
However, with Adyen it is possible for merchants to dynamically trigger 3D Secure only on transactions that are identified as high risk, based on a range of factors specific to the individual merchant.
A result of implementing Dynamic 3D Secure for Showroomprive.com has been almost the complete elimination of unpaid orders across all markets – without any negative impact on conversion.
Commenting on the relationship, PingKi Houang, COO, Showroomprive.com says, “Adyen is a great partner for us as it provides the solutions we need to support our fast international expansion. We’ve already seen the positive impact of Adyen’s solutions on our results, and with their expertise, Adyen is playing an important role in our international development, contributing everywhere to the improvement of our customer check out experience.”
Following its successful multi-market rollout, Showroomprive.com is now planning further international expansion with the Adyen payment platform, including further development of its multi-currency website, which currently covers over 167 countries.
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