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By using primer to reduce dependence on a single payment service provider (PSP) and effectively route payments, Ego revealed that its payment fees have been reduced by €30,000 per month and increased revenue with higher conversion rates.
The decision to rethink its payment settings comes after Ego experienced a fast and largely unexpected success in its newly launched mobile app. The app was initially expected to generate only 10% of total revenue, quickly surpassing expectations, and now drives more than 30%.
Despite its success, the self signed a PSP agreement based on the lower expected transaction volume. As the app performs better than it expects, business terms remain fixed, increasing payment costs and squeezing profit margins.
Despite efforts to renegotiate, providers are reluctant to adjust their contracts to make a self-decision whether to absorb costs or pause sales in their thriving mobile apps.
Self-turning to primer and integration was completed within 7 days, including a new PSP with a higher activation rate. Detailed documentation, real-time communication between teams, and coordinated execution support between engineering, product, financial and legal functions.
Since its launch, EGO has significantly lowered payment fees and increased checkout conversions for its mobile apps by using Primer’s universal checkout solution.
Manuel PerezEgo’s product owner discussed the impact of the solution: “We need a solution that can move quickly like us. Primers allow us to go live with the new PSP in 7 days, and other providers may not be possible.
“This is unexpected given that we haven’t customized the performance improvements of UX. But Primer’s default checkout proof is faster and more reliable than previous settings.”
After addressing its initial challenges, Ego now plans to expand it across other sales channels including its online stores, including its online stores, as part of a broader effort to optimize its payment strategy and make payments a leverage for growth.
Gabriel Le Rouxco-founder and CEO Primeradds: “Self is a great example of what happens when a business controls payments. The initial challenge of initially being a cost challenge quickly turned into something bigger: an opportunity to move faster, adapt to smarter and future strategies. This is the need for retailers to adopt more retailers. Payments are a must. Payments are a must-do business-critical and gain the right competitive advantage.”
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