Understanding local payment options - Expansion stories Le Chameau, Brompton Bikes, and Life Style Sports on international payment options and ...
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Expansion stories Understanding local payment options Le Chameau, Brompton Bikes, and Life Style Sports on international payment options and selling overseas with a team of one.
Expansion Stories page 2 Are you planning to take your business into new regions? Today, you don’t need huge teams or a local presence in every market to take advantage of global opportunities. With the right technology and a good understanding of local payment options, international expansion can be easy for everyone. But you don’t have to take our word for it. Here are the international expansion stories from three great businesses: • High-end boot brand, Le Chameau • Brompton Bikes, the company behind Britain’s iconic folding bike • Ireland’s largest sports retailer, Life Style Sports Small teams, big dreams Each of these companies began with a strong local presence. Life Style Sports is a household name in Ireland and Northern Ireland. Brompton Bikes are an established part of the London commuter scene. And Le Chameau’s iconic rubber boots are popular among riding and shooting communities across the UK. With such a strong focus on establishing a local brand, the companies were still relatively new to cross-border ecommerce. They were ready to take the next step but resources were limited, relying heavily on one champion within the team to drive international expansion. This was: Harry Mann, Head of Customer Experience at Brompton, Gordon Newman, Head of Omnichannel at Life Style Sports, and Grace Bell, Ecommerce Executive at Le Chameau. "Adyen's single platform processes payments across all markets at once." Undeterred by the scale of the task and the size of their teams, Harry, Gordon, and, Grace took on the challenge using Adyen’s global payments technology and in-depth knowledge of local payment options as support. “We had 3 months to go live in 6 markets while ensuring the customer experience stayed firmly on-brand,” recalls Harry. “Adyen made this possible with a single platform to process payments across all markets at once, so we were able to roll out quickly and easily. The launch was a huge success and we saw an immediate lift in conversion.”
Expansion Stories page 3 Understanding local payment options Each market comes with its local nuances. In fact, buying behavior can vary as much as language from country to country. So offering the right payment options is an important consideration for international expansion. While mainstream cards are popular across the UK and Ireland, other payment options like online banking, open invoice, and local card schemes dominate in other markets. Try before you buy with Klarna To accommodate local customers across Germany, Benelux, and the Nordics, Le Chameau is planning to support Open Invoice method Klarna. This lets businesses try before they buy making it an ideal method for selling high-value products online. "Giving our online customers the chance to try before they buy removes a major barrier to purchase." “Our boots are hand-crafted from high-quality materials by master bootmakers,” explains Grace. “Naturally, this sets us apart in terms of both quality and price. So giving our online customers the chance to try before they buy removes a major barrier to purchase and lets the quality of our boots speak for themselves. That’s why we think Open Invoice is such an important payment method for us.” With Adyen, supporting Klarna is easy. We simply registered Le Chameau with Klarna and then activated it from our backoffice. There’s no need for a separate contract or additional integration.
Expansion Stories page 4
Online banking WeChat Pay in Asia
Life Style Sports started by supporting iDEAL in Meanwhile, Brompton has experienced huge
the Netherlands and is now rolling out Sofort for success in Asia, where the British-made bikes have
Germany, and Cartes Bancaires for France. Unfamiliar found a devoted following. This is another region
with these payment options, Gordon was grateful to where payment options are very diverse. China, for
have Adyen on hand to help. example, is a pioneer when it comes to consumer
app spending. In fact, customers think nothing of
spending $2,600 in-app to get their bike. As a result,
"Rolling out iDEAL was so simple social networking app, WeChat, has become a key
that it’s given us the confidence channel for Brompton. To accommodate this trend,
Brompton set up a WeChat store and accepts WeChat
to support other local payment Pay both in-app and on its ecommerce site.
options."
“Adyen has been brilliant.” Said Gordon. “They’ve
"Launching in new markets with
provided data to inform our decisions around new local payment options builds trust
payment options, and implementation was it very
straightforward. Rolling out iDEAL was so simple that
between the customer and the
it’s given us the confidence to support other local brand."
payment options.”
Accommodating local payment preferences doesn’t
just help increase conversions in each market. It also
has strong implications for the brand. Grace explains:
“Launching in these new markets with local payment
options builds trust between the customer and the
brand. This is particularly important when selling a
high-end product.”
Expansion Stories page 5 Managing risk Another key consideration for international expansion is how it will impact your risk management. Risk profiles and vulnerabilities also vary greatly from market to market so it’s important to know what you’re up against. Initially, Life Style Sports was combating risk with 3D Secure. It was also manually reviewing every cross-border transaction. For such a small team, this was a huge headache and far from scalable. Automating fraud defense To remove the pressure, they implemented Adyen’s built-in risk management solution, RevenueProtect. This smart tool uses data from Adyen's platform to build detailed fraud profiles and identify the shopper behind each transaction. This lets Life Style Sports automate a great deal of its fraud defense. "We’ve reduced our reliance on 3D Secure, which has had a great impact on our conversions.” “I’m a big fan of RevenueProtect.” Gordon said. “Thanks to its data and machine learning tools, we’ve been able to reduce the cost of our risk management. We’ve also reduced our reliance on 3D Secure, which has had a great impact on our conversions” Brompton has also benefited from using RevenueProtect, which lets the team customise its fraud management in each market. This helps keep the company secure and reduce chargebacks without impacting local conversion rates. And Le Chameau is seeing great returns in the US and France. “We’re happy to report that we have very few chargebacks,” says Grace. “Our fraud rules are working really well.”
Expansion Stories page 6 Connecting online with in-store The more you know about your shopper, the better you can serve them. Ecommerce can provide great shopper insights, which can be used to benefit both your online and offline business. Adyen’s unified commerce solution lets you manage both online and in-store payments in one system. So you can build a 360-degree view of your customers regardless of the channel or device they’re using. As Harry explains: “The more we know about our customers, the better we can serve them. Adyen’s technology lets us consolidate our channels and harness data, which will help us go from strength to strength.” “We love having seamless payments and insights across online and in-store in one place.” Life Style Sports also benefits from Adyen’s cross-channel payments platform. This lets the company provide endless aisle solutions where customers can buy online items via in-store iPads and kiosks. “We love having seamless payments and insights across online and in store in one place,” says Gordon. “It’s great for customer recognition; we can use store transactions to inform our online risk management. On top of that, it makes reconciliation so much easier for our Finance team.” Brompton: Making tracks with global payments >
Expansion Stories page 7 International expansion made simple Of course, international expansion adds complexity. And we understand that payments is only a small part of a larger puzzle. But getting it right can take you a long way. With payments taken care of, you can concentrate on other aspects of your international expansion such as local languages and local fulfillment. The trick is to start small and see how you go. As Grace explains: “For us, success lies in an iterative process. We test everything and see what works before rolling anything out large-scale. Our current focus is Europe, and if that’s successful, we’ll launch worldwide.” And we’re here to help. We’ll on provide guidance every step of the way, advising you on the right payment options and helping you enter new markets as and when you’re ready to do so. Our single platform solution lets you manage payments across all channels and markets in a single system. And our teams of local experts will walk you through all you need to know to succeed in each market. So you can be sure your conversions are maximized, your business is protected, and your customers enjoy the best experience. “We benefit from a global overview with localised control." “Our partnership with Adyen is fundamental to our international expansion.” Harry said. “We benefit from a global overview with localized control and are learning more about our customers all the time. I’m very excited about what our future with Adyen holds.”
Curious to learn more? Let's talk We'd love the opportunity to explore how we can help you expand your business overseas. Contact Brian Mapley, Head of UK Sales to learn more. Brian has over 15 years’ experience in the payments industry. In 2016, he received a Payments Award in recognition of his work helping iconic British brands with their international expansion and omnichannel offering. Reach him on 077 2155 9214 or at Brian.Mapley@adyen.com adyen.com
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