How to reduce cart abandonment and improve conversion rates? By offering a fast checkout path and building buyer confidence. It is to address this dual challenge faced by all e-merchants that Brightweb launched Stan. This digital solution with online payment is built on Powens’ Pay product. Now there is no longer any need to use your credit card and run the risk of your data being stolen.
The need: simplify the purchase journey and strengthen security
The major challenges facing all e-commerce sites are to boost conversion rates and increase their visibility. The ability to offer rapid checkout and foster buyer confidence is essential to address these challenges.
The PIN number and chip on a credit card make it a secure means of payment at a brick-and-mortar point of sale. But the situation is radically different for payments online. Phishing attacks are on the increase and sensitive data sought by hackers are divulged (surname, first name, card number, expiration date, and cryptogram).
Buyers are becoming increasingly wary, especially of little-known e-commerce sites. As a result 7 out of 10 carts are abandoned*. This is a major obstacle to the development of e-commerce sites having to compete with the major marketplaces.
The solution: payment initiation for efficient, secure, and card-free online payments
The Brightweb team has launched Stan to help deliver the best online shopping journey. This application uses payment initiation through the Pay product from Powens.
Stan is integrated into the e-merchant’s platform and offers quick payment when users click on the “Pay with Stan” button.
On the buyer’s side:
- The buyer first creates an account on the Stan mobile app which securely encrypts his/her personal data in its safe.
- The buyer then directly accesses trusted e-commerce sites across the Stan interface.
- Once the cart is ready, the buyer can pay without a card or IBAN number and without having to communicate his/her personal information.
- After selecting the Stan payment method, buyers are redirected to the logon page of their bank’s website. All they need to do then is confirm the transaction.
The buyer initiates an account-to-account transfer by means of the payment initiation technology provided by Powens. The payment is made from the buyer’s bank to that of the merchant, without any middle-men, therefore guaranteeing the security and irrevocability of the payment.
Stan simplifies and streamlines the e-commerce journey making it the ideal solution to enable users to buy with confidence.
“Powens provides us with secure payment initiation technology. Pay offers us all the performance and security guarantees we need: it is a reliable, GDPR-compliant, and highly secure technology. As an ACPR-approved actor, Powens is the ideal partner to enable us to gain the trust of French users and merchants in our solution.”
Laurent Galène, Co-founder of Brightweb
The app attracted 2,000 users in the launch phase in 2022 as well as over 400 e-merchants who signed up to the waiting list to feature this payment method on their sites.
- 2,000 users in the launch phase
- 400+ e-merchants on the waiting list
In the fall of 2022, Stan is being deployed on several e-merchant and digital agency sites that run merchant CMSs.
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* 48 Cart Abandonment Rate Statistics 2022, Baymard Institute