Qeeq.com — the operating name of GlobeTrotter Technology — is an online travel agency (OTA) specializing in car rentals. It allows travelers to hire a car for the best possible price in over 200 countries worldwide.
To offer travelers the most convenient way to hire a car, Qeeq.com must deliver a frictionless payments experience. But as it entered new markets, its payments acceptance rate declined. Preventing customers from completing transactions, resulting in lost revenue.
At the same time, payments cost increased. It also experienced a higher incidence of fraud and more chargebacks. Both of which harmed its bottom line.
"Because of these issues — and the growing complexity of our business — we reached a point where we needed to seek help from other payment service providers," says Rainbow Qin, Product Manager at GlobeTrotter Technology. "That's why we brought on Checkout.com as our payments partner. We knew it had the capabilities and solution to support our business growth around the world."
Qeeq.com has achieved remarkable success since using Checkout.com to process its payments, seeing its acceptance rate increase by 28%. "The 28% increase in acceptance rate delivered by Checkout.com has translated into a 5% uplift in monthly revenue," says Qin. "It's also helped us reduce the cost of our payments."
Checkout.com has also supported Qeeq.com to reduce fraud by 5% and its chargeback rate by 0.09%. "Checkout.com is an expert payments partner," says Qin. "The team has taught us about various fraud and chargeback scenarios. They've also supported us to put in place different measures to manage the risk and minimize revenue losses."
Like most in the travel industry, the impacts of COVID-19 adversely affected Qeeq.com. Yet because of the robust payments performance delivered by Checkout.com, it could capture what sales were available and minimize lost revenues. The platform also allowed Qeeq.com to process refunds quickly for its customers.
Coming out of the pandemic, Qeeq.com is in a stronger position than ever. It's used the time to improve its systems and customer service. It has also expanded into several new markets. "Checkout.com continued to provide us with high service levels even when our transaction volumes were down," says Qin. "Their support has been invaluable in helping us prepare for the bounce-back of the travel industry."
Having navigated the bumps in the road created by the pandemic, Qeeq.com is ready to accelerate its growth once again. And Checkout.com will continue to be a pivotal partner. "Checkout.com has already created so much value for our business," concludes Qin. "We're excited to continue working with them to improve our payments performance and create the best possible customer experience."