ADYEN N.V. SHEIN may have started as a small online retailer that sold wedding dresses, but even at the beginning, the China-based company has its sights set on the international market.
Today, the ecommerce giant is a household name and ships to over 220 countries. Its meteoric growth is built on delivering a high-quality shopping experience and convenience to its shoppers worldwide. The high-profile retailer has strong supply chain and cost management integration, along with a ubiquitous social media presence. But the key driving factor in its expansion has been payments, as SHEIN shared.
Many global brands have been slow to adopt new payments technologies, but SHEIN recognized the importance of payments in its overall business strategy, especially for global expansion.
To grow its business faster and more efficiently, the brand needed to adapt to local market conditions and optimize the shopping experience for shoppers wherever they live and shop. SHEIN chose Adyen as its payments partner to facilitate shopping for its global customer base through seamless payments and cutting-edge technology.
As SHEIN ships to over 200 markets, it's key for the brand to be able to process payments in local currencies and offer the most popular and convenient payment methods, whether they are credit cards, mobile wallets, banking apps or other payment methods. The brand handles a staggering amount of complexity on a daily basis, and without a payments partner that understands the business, SHEIN's growth could have been severely limited.
With Adyen's integrated payments platform, we can quickly add local payment methods in various markets around the world and with that, we've seen an increase in conversion rates.
Ted WangHead of Payments, SHEINWorking with a global payments service provider like Adyen has helped SHEIN simplify its business. Adyen's single platform solution gives brands lke SHEIN full control of their business, and makes it easier to add new payment methods as and when needed.
"With Adyen's integrated payments platform, we can quickly add local payment methods in various markets around the world and with that, we've seen an increase in conversion rates," said Ted Wang, Head of Payments of SHEIN.
With our extensive experience supporting local payment methods in countries all over the world, Adyen demonstrated how we could effectively remove any barrier to purchase for SHEIN's international customers. Our global presence also helped the SHEIN team easily set up risk control models based on the markets' requirements, driving sales and enhancing the overall customer experience.
Adyen's single platform solution helps simplify payments for online fashion retail giant SHEIN
When expanding into new markets, SHEIN not only needed to understand the payment preferences of the local market, but also the risk of payment fraud. With Adyen, SHEIN has improved the authentication process across all payment methods and currencies offered - all while keeping the entire shopping experience seamless and enjoyable.
With Strong Customer Authentication (SCA) gaining traction worldwide, SHEIN has also begun deploying 3DS2 authentication. As one of the few global payments service provider that offers an intelligent routing verification engine along with local acquiring, Adyen helped SHEIN implement intelligent authentication compliant with SCA protocols, all while ensuring a smooth user experience and maximizing authorization rates.
A trailblazer in business and in adopting new payments solutions, SHEIN is one of the first international merchants in China to adopt global payments technologies such as network tokenization. This is especially important as SHEIN's international business grows.
Through its partnership with Adyen, SHEIN has been able to leverage technology to increase payments performance. For example, Adyen's RevenueAccelerate has provided SHEIN with intelligent payment routing and network tokenization to achieve seamless operations. Adyen's focus on innovation and technology has also been integral in keeping SHEIN at the forefront of payments and global retail.
The innovative and iterative capabilities, as well as the leading technology service experience of Adyen's solution have helped SHEIN keep up with local payment trends, adopt the latest payment technologies and further enhance our consumer experience.
Ted WangHead of Payments, SHEINAdyen's solution helps SHEIN deliver great shopping experiences via RevenueAccelerate's intelligent payment routing and network tokenization offerings
"Embracing new technologies also means embracing new opportunities. The market is changing rapidly, and payment requires the use of technology to ensure safety and convenience. The innovative and iterative capabilities, as well as the leading technology service experience of Adyen's solution have helped SHEIN keep up with local payment trends, adopt the latest payment technologies and further enhance our consumer experience," said Ted Wang, Head of Payments, SHEIN.
As a brand that's predominantly online, in-store wasn't a focus until a few years ago with SHEIN's pop-up store concept in Europe, and SHEIN needed a cross-channel payments solution to be quickly implemented - something Adyen's unified commerce solution can easily offer. Beyond extending support to in-store payments, the Adyen team of account managers, technical support as well as analytics and monitoring teams were called upon. The result: unified payments that gave insight into SHEIN's online and in-store transactions.
SHEIN: Payments are a critical means to connect brands directly to consumers
"To establish a strong presence in the local market, brands going global need to make continuous improvements in local user operations and expand local channels. Payments are one of the most critical means to connect merchants directly to local consumers. A good settlement and payment experience not only allows SHEIN's various marketing methods to be implemented, but it is also a gateway for SHEIN to enter the global market," said Molly Miao, Chief Marketing Officer, SHEIN.
It may have been Adyen's end-to-end one-stop payments platform offering that first sparked SHEIN's interest. With a fully supportive Adyen team and reliable payments infrastructure, further proven with the stability of our platform during SHEIN's large promotional activities and shopping festivals where it had to handle large transaction volumes, Adyen has further gained SHEIN's trust. As SHEIN continues its international expansion, we also look forward to greater milestones in our partnership.
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Adyen NV published this content on 08 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 October 2021 04:31:06 UTC.
