Shortly after the launch of its new online store, a well-known fashion label from Germany with originally purely brick-and-mortar stores was looking for an alternative payment provider. The reasons for this were the strong friction losses in the start-up phase of the store during the processing of payments with the initially selected provider due to rather difficult to understand, non-transparent payment flows as well as less customer-oriented dunning and collection processes of the provider in question.
The founders of the fashion label came into contact with us more or less by chance while searching for an alternative partner. Based on existing project solutions and our partner network in the field of e-commerce, we then implemented the new connection of the web store with the payment methods payment on invoice, credit card and PayPal for the fashion label within a very short time.
The central solution element here was the payment method payment on invoice. This payment method was set up on the basis of the ‘payment on invoice solution’ from Santander Consumer Bank. The Santander service offers simple, highly consumer-oriented payment processing and a payment period of 30 days for end customers. The main advantage of the payment service for the merchant is a 100% financing of the turnover by Santander Bank. The technical connection as well as the infrastructure was realized together with a premium partner of ours, who is also, among other things, the exclusive technical partner of Santander Consumer Bank for the payment on invoice.
Shortly after the integration of the new payment window for the 3 payment methods, the payment method payment on invoice, which is extremely popular with end customers, gained significantly in customer acceptance compared to the other payment methods and led overall to significant increases in orders and thus to sales increases in the online store of the fashion label. More than 60% of online customers now use the payment on invoice option.
The advantages of payment on invoice are obvious. The customer receives his goods and then has up to 30 days to pay the outstanding invoice amount. However, the store operator receives his money directly on the following day of the order. This increases his liquidity and he can invest directly in new goods.
For online stores with higher-priced products, there is also the additional option payment on invoice to integrate with payment on invoice.
If we have aroused your interest, here are the services and benefits of the payment solution payment on invoice at a glance: