Post by asadul1212874 on Feb 27, 2024 23:52:07 GMT -5
An approved and secure purchase is one in which the online transaction was checked, authorized and completed successfully and followed all protocols and security measures. Having a tool combined with your company that helps prevent fraud and protect the data of both your store and your customers becomes essential nowadays. The success story of the partnershipNovo Mundo.comasSingle IDPaydetails exactly this scenario. Novo Mundo.com, which has been in the market for 67 years and was already a Unico customer with another product, accepted an invitation to test the company's newest solution, IDPay. Read on and learn about the applicability of IDPay within Novomundo.com and the results of the successes achieved. The purchase approval process in companies The bureaucracy involved in purchasing approval times in companies depends largely on the marketplace and the payment methods used. Therefore, it is important that the approval policies and terms of service are clear on your website so that the customer understands the entire process. Novo Mundo.com, in the market for more than 6 decades, is the first major Brazilian retailer to end the barrier of different prices between website and store, that is, products have the same cost, regardless of the space they are in and the way in which the consumer makes the purchase. With the evolution of e-commerce, even though the company was already digitally transformed, fraud began to emerge and, consequently, a greater number of purchase rejections.
In addition to the financial loss, the customer experience was being harmed. Sales that were rejected by anti-fraud systems were sent for re-issuance via telesales, where many customers ended up giving up their purchase. Among the reasons were, mainly, the question: “how long does it take to approve credit card purchases?”, and the answer was: approximately 72 hours. Over this time, customers either ended up giving up or choosing to buy elsewhere. According to Heitor Braga de Melo, Payment Methods Henan Mobile Number List and Fraud Prevention Manager, “9% of sales via credit card were not approved on time and, therefore, in the year we have around R$12 million in sales being lost. With manual work we were able to recover only R$400,000 of that amount. The solution was to test the POC version of Unico's new product, which was modeled, modified, tested and certified for two months. “The main reason for the partnership with Unico is thatbelieves that new technological tools bring innovation, which is a differentiator when compared to competitors. It is an innovative product on the market, which will bring a more fluid purchasing journey, with a guarantee of zero chargeback, zero operational costs and zero manual analysis. There is no product today that validates the customer's card together with biometrics, bringing greater security to the transaction.
It was an honor to participate in the development” says Heitor. Purchase approved safely Currently, Novo Mundo.com has 154 stores distributed in several states, with the largest sales share in Goiás and the Federal District. In the first two months of using IDPay, it received R$300,000 in quick and secure purchase approvals. It works like this: If the identity is authenticated and matches the card holder, the purchase is approved instantly. If the purchasing person does not own the card, we send a link so that the cardholder can authenticate in a single check. Confirming and validating the buyer's authenticity and card ownership, Novomundo.com receives the return from IDPay, proceeds with the approval of the order and the customer no longer needs to wait 72 hours, as was the case before. NovoMundo.com and Unico IDPay For Novomundo.com, Unico IDPay increasingly makes it possible to reduce manual analyses, which not only cost investment, but also involve friction with the end customer, in addition to financial losses due to unapproved good purchases. Heitor states: “I see this product transforming the way financial institutions connect with e-commerce, as it is a solution without manual analysis and that authenticates identity and card ownership. It’s the best experience for customers, with less cost, more security and less loss” Unico IDPay helped Novomundo.com recover, in two months, 75% of purchases made in a year. Now, expectations are high.
In addition to the financial loss, the customer experience was being harmed. Sales that were rejected by anti-fraud systems were sent for re-issuance via telesales, where many customers ended up giving up their purchase. Among the reasons were, mainly, the question: “how long does it take to approve credit card purchases?”, and the answer was: approximately 72 hours. Over this time, customers either ended up giving up or choosing to buy elsewhere. According to Heitor Braga de Melo, Payment Methods Henan Mobile Number List and Fraud Prevention Manager, “9% of sales via credit card were not approved on time and, therefore, in the year we have around R$12 million in sales being lost. With manual work we were able to recover only R$400,000 of that amount. The solution was to test the POC version of Unico's new product, which was modeled, modified, tested and certified for two months. “The main reason for the partnership with Unico is thatbelieves that new technological tools bring innovation, which is a differentiator when compared to competitors. It is an innovative product on the market, which will bring a more fluid purchasing journey, with a guarantee of zero chargeback, zero operational costs and zero manual analysis. There is no product today that validates the customer's card together with biometrics, bringing greater security to the transaction.
It was an honor to participate in the development” says Heitor. Purchase approved safely Currently, Novo Mundo.com has 154 stores distributed in several states, with the largest sales share in Goiás and the Federal District. In the first two months of using IDPay, it received R$300,000 in quick and secure purchase approvals. It works like this: If the identity is authenticated and matches the card holder, the purchase is approved instantly. If the purchasing person does not own the card, we send a link so that the cardholder can authenticate in a single check. Confirming and validating the buyer's authenticity and card ownership, Novomundo.com receives the return from IDPay, proceeds with the approval of the order and the customer no longer needs to wait 72 hours, as was the case before. NovoMundo.com and Unico IDPay For Novomundo.com, Unico IDPay increasingly makes it possible to reduce manual analyses, which not only cost investment, but also involve friction with the end customer, in addition to financial losses due to unapproved good purchases. Heitor states: “I see this product transforming the way financial institutions connect with e-commerce, as it is a solution without manual analysis and that authenticates identity and card ownership. It’s the best experience for customers, with less cost, more security and less loss” Unico IDPay helped Novomundo.com recover, in two months, 75% of purchases made in a year. Now, expectations are high.