Offering more local payment methods unlocks more revenue for Alshaya
3 min read
Kuwait's retail conglomerate, Alshaya, sees its authorization rate increase by 15% since working with Checkout.com to optimize payments performance.
Alshaya is a world-leading franchiser. It supports over 90 international brands — including Starbucks, H&M, The Body Shop and Victoria’s Secret — to expand its footprint across the Middle East and North Africa (MENA). It operates over 4,000 stores in the region and has expanded its footprint to Europe, Turkey and Russia.
As one of the region's most progressive businesses, Alshaya is committed to innovation. It aims to deliver fresh, modern and relevant experiences to its customers. And it's this innovative approach that led Alshaya to onboard Checkout.com as its new payments partner.
"Checkout.com's deep expertise across MENA stood out from the crowd," says Red Bamba, Alshaya’s Senior Manager for Digital Payments. "It has teams on the ground that know the market and where customer demand is. That's an attribute that other global payment providers just don't have."
Red also cites Checkout.com's superior technology and extensive network in the region — including relationships with local banks, issuers and schemes — as another critical attribute. "With one integration, Checkout.com can support us everywhere we do business, so we can streamline our payments infrastructure while still achieving optimum performance," says Red.
Acceptance rate increase
“Checkout.com is integrated into all the region's most popular local payment methods. Through one API, we’re able to make the payment methods live across our entire portfolio.“
Providing the right mix of local payment methods for a superior customer experience
Alshaya's key goal was to expand the number of payment methods its brands could offer customers across MENA. The question was, what payment methods to provide?
To get the answers, Checkout.com worked with Alshaya to understand how consumers in different markets behave. This analysis identified that Alshaya should offer mada payments in Saudi Arabia, KNet in Kuwait, QPay NAPS in Qatar and Fawry in Egypt.
"Checkout.com is integrated into all the region's most popular local payment methods," says Red. "Turning them on and configuring them within our existing integration was straightforward. And because all our brands connect to Checkout.com through one API, we’re able to make the payment methods live across our entire portfolio."
Optimizing Alshaya’s payments performance with granular data
Turning on these payment methods is only the first step towards improving performance. Checkout.com has also given Alshaya access to granular data to help them understand why some of its payments are unsuccessful — and advice and support on how to fix it.
“Checkout.com provides a single repository for all our data. If we need to pull a report for a certain payment method, brand or market, it’s a single click away," says Red. "With this access to data and the expert support from Checkout.com, we've optimized our payments performance, recognizing a 15% uplift in our approval rate."
Checkout.com has also supported Alshaya's brands to remove friction from the customer experience. “This support has allowed us to implement changes that improve the checkout experience. This isn't only ensuring more customers convert; it's also maximizing our customer lifetime value."
A partnership for today and tomorrow
As Alshaya continues to move forward with its ambitious growth plans, it will further leverage Checkout.com's payments platform and expertise to enter new markets. "Checkout.com is a crucial partner to our business. It provides us with the performance, expertise and coverage we require. I don't foresee us working with anybody else."