French ready-to-wear brand, Promod, implemented HiPay to provide solutions to extend the brand’s geographic reach of online sales by providing solutions to facilitate local payments and the use of local currencies.
Promod, a family-run women’s ready-to-wear and accessories company with its roots in France has been creating accessible pieces for all women since it was founded in 1975. Being a forerunner in the adoption of online sales, www.promod.fr was launched during the 90’s. The international development of the brand quickly became integral to the brand’s strategy which today has a span of 900 stores in 40 countries.
Responding To Polish Payment Needs
With 11 million online shoppers and annual sales of 6.5 billion euros, e-commerce within Poland is a more than promising market for investors. In 2015, more than 55% of Polish people planned to make their clothing and shoe purchases online. However, providing adequate solutions for conventional payment habits in Poland proved to be an obstacle. Only 40% of online purchases were paid by credit card versus the 45% paid through direct transfer.
To address the Polish market, Promod launched an e-commerce site in euros without an adapted payment method tailored to the market: www.promod.fr had low conversion rates in the country. The main reason for this issue was the lack of support for the Zloty, which is the preferred payment method of Polish people.
“We were searched for a partner capable of accompanying us and offering a product which responded to our needs: to quickly implement a solution on our Polish site offering a currency that was not the euro, manage the conversion from the Zloty to euros and finally, provide the preferred payment methods used most frequently by the locals in the market.”
Digital Marketing Manager International Development
Thanks to the integration of solutions provided by HiPay, Promod offered their clients the option to make purchases using Przelewy24, as well as international payment methods (Visa, MasterCard, etc.). Przelewy24, a solution which allows for payment via bank transfer, is the leading payment method in Poland. It is used for 79% of all transactions made on the www.promod.pl site, whereas only 20% are made using a credit card.
“The introduction of this solution raised the conversion rate in the country placing the Polish website within the top 3 sellers for the brand!”
Due to the success, Promod decided to extend the reach of their partnership with HiPay to the Czech Republic, which happened to be a country with similar issues to Poland. In less than three months a solution was integrated into the Czech website.
A Custom Fraud Management System
A major concern for e-commerce merchants in Europe, fraud represents an average loss of 1 to 5% of sales
“We discussed with the HiPay team to find solutions to this difficult issue. Our needs were clear: accept the maximum amount of purchases while maintaining the lowest possible rate of fraud.”
The FPS tool (Fraud Protection Service) from HiPay allowed for the conversion of a higher amount of effective sales transactions, and at the same time reduced the rate of fraud.
“The fight against fraud is given special attention at HiPay. Thanks to the combination of FPS and HiPay’s Business Intelligence tool, we have understood that the analysis of our data is an invaluable resource that cannot be neglected. The identification of the origin of these issues allows us to prevent a recurring problem and to increase our sales on different websites.”
“Every quarter, we meet the HiPay team dedicated to us and challenge them to further to advance our payment offers. This partnership allows us to expand into new countries and permits the use of new currencies”