Photo printing company, Cheerz, focuses its lens on Checkout.com
2 min read
Cheerz sees its authorization rates increase by 6% since moving its payment volume to Checkout.com from its legacy payment service providers, including Stripe, resulting in €120,000 additional revenue each month.
Cheerz has reinvented how we think about and use our photos. Armed with just a smartphone and their app, users can personalize calendars, magnets, jigsaws, candles and much more with photos of family, friends, holidays and happy memories. Millions of customers across Europe use Cheerz, with its annual sales now topping €50m.
But Cheerz is just getting going. Driven by ambitious expansion plans and rapid organic growth, it needed to look at every facet of its operation to ensure its suppliers could scale with them. That included the performance of its legacy payments providers, including Stripe amongst others.
The team at Cheerz wanted to make sure it was achieving the best possible payment performance and ran a series of tests A/B tests with several payment service providers, including Checkout.com. And what they discovered was that there was much more value Cheerz could unlock from its payments.
As Aurélien de Meaux, CEO and Co-founder of Cheerz, explains: “We saw that our existing payment platform wasn’t providing us with optimal performance. And that we could achieve much higher authorization rates with Checkout.com.”
This was an important discovery for de Meaux and his team. “Cheerz is a high-volume, low-value business,” he says. “We have thousands of customers every day that typically spend between €10 and €30 on our app. So one of our main considerations is payment approval rates. It’s vital we don’t lose our customers at the checkout to ensure we maximize revenues.”
De Meaux and the rest of his payment team made the decision to move their entire transaction volume to Checkout.com. It’s a decision that’s delivered impressive results for the business. “We’ve seen our approval rate increase by 6% since switching to Checkout.com,” he says.
This improvement matters because approval rates directly impact the bottom line. De Meaux estimates that the higher approval rates it has achieved with Checkout.com have generated €1.5 million more sales and added €120,000 to monthly revenue. “This is huge for our business,” he says.
Checkout.com’s higher performance is down to several factors, explains de Meaux; not least, deep local presence and expertise in their key European markets. “They’re well connected to all the major issuing banks in France and in the other countries we operate in.”
But knowledge alone is meaningless if it isn’t shared with a customer. Checkout.com formed a deep partnership with Cheerz. These dual benefits of expertise and dedication have been a game-changer, says de Meaux. “Together, we’ve solved many complex issues — such as how to handle unfamiliar decline codes — that have provided significant uplift to our approval rates.”
With growth comes change. That becomes more challenging the more systems you run, as you have multiple ‘points’ to configure, optimize and secure. This has been another attraction of Checkout.com’s platform, explains de Meaux. “Because all our transactions flow through Checkout.com’s unified API, we’re able to easily adapt the solution to our needs across each of our key markets without incurring any additional complexity and cost in our back office.”
The scope and interoperability of Checkout.com’s platform has allowed Cheerz to become much more data-driven. Alongside its operational capabilities, Checkout.com has provided deeper payments data granularity and transparency of fees. “Checkout.com gives us a more granular view of payments data than ever before,” says de Meaux. “This provides our teams across the business with a deeper understanding of how our customers are behaving, allowing us to optimize the experience to ensure that we’re capturing every available sale.”
Keep up-to-date with all things payments
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