By teaming up, Checkout.com is set to provide its Intelligent Acceptance offering to scale acceptance rates by applying bespoke AI optimisations based on Vinted’s specific traffic patterns. By implementing this, Vinted can minimise failed transaction rates and increase engagement on the platform. Since working together with Checkout.com, Vinted reported a 4.15% overall acceptance rate boost on payments processed by the company in 2024.
The partnership with Vinted comes just a few weeks after Checkout.com and GetYourGuide started a collaboration planning to optimise online payment processes. The two companies aimed to ensure simplified transactions for travellers booking tours, attractions, and activities globally. Additionally, by integrating Checkout.com’s payment solutions, GetYourGuide intended to allow customers to book their travel experiences in their preferred language and currency, equipping them with an augmented payment experience across multiple geographies.
In addition to increasing acceptance rates, the partnership focuses on ensuring compliance with region-specific regulatory requirements while also supporting local currencies. At the same time, the collaboration with Checkout.com enables Vinted to further advance its commitment to assisting individuals to buy and sell pre-owned items through its digital platform, improving the company’s transaction performance and serving the needs of its expanding user base.
Commenting on the news, representatives from Vinted underlined that providing optimal digital experiences stays at the core of their company’s mission of making second-hand first choice for people and the alliance with Checkout.com plays a key role in supporting this. Checkout.com’s technology and expertise across European and UK markets are set to enable Vinted to scale its operations while achieving high-performance payments and offering the digital experience that users expect.
Nowadays, the world of fashion has been experiencing a shift towards pre-loved items, with many individuals choosing second-hand clothing due to scaling consciousness regarding the environmental impact of fast fashion. Also, this move is driven by the affordability of second-hand clothing, with prices being substantially lower compared to new garments. This market is expected to grow exponentially in the EU, projected to reach USD 243 billion by 2025.
Vinted is among the companies that support this trend, with it helping its members trade second-hand items, from clothes to luxury handbags. The company works towards making second-hand first choice for everyone and keeping items in circulation for longer, in turn making it easy for the world to make the most of what it already has.
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