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 e-commerce sites.
Their pioneering products include FEVOos, which helps brands quickly repackage their inventory into special offers while getting instant access to a network of strategic partners and distribution channels, and the Social CartTM, a dynamic checkout flow that allows online shoppers to invite friends and followers to join them at any point throughout the purchase process.
“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.”
This technology radically re-envisions what it means to shop online, affording merchants greater flexibility with everything they sell and greater connectivity with everyone who buys it. The New York Yankees, for example, use FEVO to allow 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.
“To reach the scale we plan on achieving, FEVO needs to partner with best-in-class companies across everything we do, from the primary companies that help power our platform to the merchants who use it to sell tickets and grow their fanbase,” says FEVO CEO and Founder Ari Daie. “Checkout.com plays a crucial role in this ecosystem by providing our clients with a secure, reliable solution at the single most important moment in every e-commerce transaction: processing a payment."
FEVO says 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 e-commerce 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."
Seamless Integration, 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 their 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. In aggregate, these changes have allowed FEVO to turn greater attention toward optimizing and expanding their own 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 their North American races.
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 exactly what Checkout.com allows us to do."