If a merchant has around 100 orders per day with a €70 order volume, then the results of Open Bank Express Checkout will be as follows:
With a 37% higher conversion rate, the example store will get 1200+ extra monthly orders when offering Open Bank Express Checkout.
€84,000+ in revenue
On average, 1200+ orders will lead to €84,000+ monthly growth in revenue.
€2,940+ less fees
With payment fees reduced by half when Open Bank Express Checkout is offered, the example store will save €2,940+ per month.
How will Wallid improve main eCommerce challenges in 2023
Increased conversion, lower fees, returned customers, KYC on the go and more
High (69%) cart abandonment.
Improvement: Simplified fast checkout increase conversion.
Payment processing cost & time.
Improvement: Real-time customer-to-merchant bank account payment with up to 90% lower processing fees.
One-time buyers are the majority of sales.
Improvement: 30+ million users with a pre-filled checkout form and conversion similar to returning customers.
Cyber security and eCommerce fraud.
Improvement: Built-in KYC verified by the user's Bank or ID Wallet.
Low (30%) trust to company data storage.
Improvement: Decentralized Personal & Payment data storage that is controlled by the user.
Before and After Shopping Experience
Before - 69% cart abandonment
An average checkout setup consisting of 3-4 steps can result in up to 69% cart abandonment and lost sales.
After - 28% conversions increase
Express Checkout with bank could increase conversion up to 28%
Leverage Open Bank Connection
Convert more shoppers with instant bank payments. Wallid Checkout users have cut their payment journey down to as little as 25 seconds – with no clunky redirects, no lengthy forms, and no unnecessary friction.
One Step Checkout With Data Prefilled
A simple, fast one step checkout for your customers. A low-fee, high-converting checkout with data pre-filled from bank.
Get started with Wallid Checkout
Increased sales on current traffic up to 37% with express checkout
2X reduced payment costs through direct bank payments