How FEVO is ushering in a new era of social commerce
The future of online commerce is social. That's the view of FEVO, a fintech company enabling over 700 blue-chip brands—including Madison Square Garden, the LA Dodgers and Cirque du Soleil—to expand their fan base and grow revenues from the comfort of their owned and operated ecommerce sites.
It does this through its product FEVOos, which helps brands quickly repackage their inventory into special offers. And its Social Cart, a dynamic checkout flow allowing brands like the New York Yankees to enable its customers to purchase tickets separately but sit together within the stadium.
FEVO's social tools contribute to its unique value proposition, but the efficacy of the technology also lies in the breadth of strategic partnerships the company has brokered in recent years.
"We need to partner with best-in-class companies across everything we do to achieve our goals,” says FEVO CEO and Founder Ari Daie. "Checkout.com plays a crucial role in our ecosystem, providing our clients with a reliable solution at the single most important moment in every ecommerce transaction: processing a payment."
The switch to Checkout.com as its payment processor of choice owes to its flexible technology stack, transparent pricing, and simpatico approach to building meaningful, enduring relationships within the ecommerce space.
"Making a significant infrastructure change like switching payment provider isn't a decision we take lightly," says Himanshu Kothari, FEVO's Chief Finance Officer. "But the value we knew Checkout.com would bring as we strive to reach our goals made it a straightforward decision."
Realizing immediate value
The integration between the two technologies was completed quickly, with Checkout.com supporting FEVO at every step.
"Creating seamless payment experiences, protecting merchants and consumers from fraud, and paying out brands quickly are mission-critical tasks for our company,” explains Kothari. “To its credit, Checkout.com made our transition seamless and simple, meaning our financial operations and business didn't skip a beat.”
FEVO has realized the immediate benefits since going live with Checkout.com, charting higher acceptance rates, boosted revenue, less latency (allowing for more seamless checkout experiences), and access to more robust consumer profiles. These changes have allowed FEVO to focus on optimizing and expanding its products.
With Checkout.com as its payments partner, FEVO plans to continue onboarding blue-chip brands while innovating with the ones they already serve—like F1, who rely on FEVO to help ticket its North American races.
“We chose FEVO’s technology to provide our customers with the least amount of friction and fewest steps possible when buying tickets for the race,” says Josh Young, VP of Ticket Sales and Service for F1 Miami Grand Prix. “With Apple Pay & Google Pay enabled, our customers can complete a transaction in two taps. It simplifies the purchase process and increases our conversion rates on mobile devices.”
Redefining social commerce
On the heels of yet another successful integration with one of the most respected names in e-commerce, FEVO is more confident than ever about delivering on its goal of empowering brands to build their communities through the power of social commerce.
"Checkout.com's mission is to empower businesses and their communities to thrive in the digital economy,” says Kothari. “And thrive is what Checkout.com allows us to do."