Avangate has launched a new digital commerce solution that will take advantage of the emerging New Service Economy that is increasingly becoming a key factor in the mobile payments and ecommerce arena.
This summer will see the full release of the Avangate Commerce Solution that makes it simpler for retailers to get to the market faster, scale up services, and retain more customers in the process.
“Over a year in the making, our new release brings together unique commerce requirements for the New Services Economy, enabling online services companies to quickly package and price service offerings with complex options; provision, manage and automate service entitlements; and drive critical retention via smart customer and payments management,” said Michael Ni, Avangate’s CMO/SVP of Marketing and Products.
The new service helps companies get to the market quicker as it provides enhanced online self-service that includes hosted online carts and account management, branded carts, services distribution and a call centre console.
Scaling up is made easier by providing automated commerce triggers, secure management of cards on file, expanded chargeback and fraud management, and continued expansion of global support and compliance.
Lastly the solution helps companies to maximise conversion and profitable customer retention through an authorisation dashboard that includes revenue analytics, expanded customer and subscription reports, intelligent payment routing, and payments beyond credit cards.
Avangate decided to launch the new solution after conducting a consumer survey that looked at how customer buy online services and some of the key drivers and detractors to consumer adoption.
It found that, in relation to customer retention, 90 per cent of consumers don’t update the credit cards held on file and this has directly contributed to drops in both retention and revenue.
Some of the top gripes customers have with online services were also revealed, 49 per cent complaining about difficult-to-reach live support, 41 per cent mentioning inflexible purchasing options and 35 per cent stating slow customer service/resolution.
Avangate’s new solution will be released later this summer and all details can be found on the firm’s website.