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2Checkout 2019 Summer Release Helps Online Merchants Maximize Business Performance Worldwide
Improved all-in-one solution ensures business scalability for global online sales of any type of product or service, digital or physical
ATLANTA, GA - June 27, 2019: 2Checkout, the leading all-in-one monetization platform for global businesses, today announced the 2019 summer release of its Avangate Monetization Platform, featuring advanced order and catalog management options for any type of product or service, digital or physical. The release features additional subscriptions management and billing capabilities, newly added payment methods, and further updates that help merchants to rapidly scale, grow revenue streams across channels, and optimize digital commerce operations.
"With digital commerce continuing to grow and become more sophisticated at a global level, 2Checkout is proud to offer its clients a powerful monetization platform encompassing updates in the stack of payments, eCommerce, subscription billing, distribution channels, and tax and compliance services. This will allow merchants to be nimbler, scale faster, and improve KPIs related to their commerce initiatives, regardless of the type of products and services they are selling, whether digital or physical, subscription-based or one-time purchases," said Adriana Iordan, VP of Product Management at 2Checkout. "We continue to focus on key areas of investment to help maximize the value of every digital buyer and subscriber worldwide for our clients."
The 2Checkout summer release features the following platform highlights:
Advanced ordering engines increase conversion rates across channels: An enhanced Inline Cart, offering shoppers a seamless purchasing experience. An iFrame engine based on a modern framework, the Inline Cart is device-responsive and minimizes the number of steps in the purchase process while also covering the latest geo compliance, tax display rules and local conversion optimization. This represents another checkout flow that merchants can easily test for higher conversions.
In addition, 2Checkout's ConvertPlus ordering engine has been enhanced with new features, including support for any type of product; out-of-the-box templates; returning customer logic and payment method mix; merchandising tools and abandon recovery, all based on ongoing conversion optimization tests and industry benchmarks.
See how Vector, producer of VSDC audio and video conversion and editing software, improved the shopper experience and conversion rate with 2Checkout's ConvertPlus ordering engine.
Improved subscription billing and management: Enhanced subscription-related data layer and out-of-the-box reports on monthly recurring revenue, renewals and expiration dates, forecasts and trial conversion rates allow merchants to easily assess subscription performance and constantly identify growth areas. This extensive renewal information provides a better understanding of the customer lifecycle.
"As with every release, we are bringing more enhancements to our award-winning subscription management and billing capabilities, to ensure that our customers have the best tools available to track their business and increase customer lifetime value. This includes updates to the smart retention and revenue recovery engine, which brings 10%-20% revenue uplift for merchants using it," added Iordan.
Additional payment methods for improved local coverage: Merchants selling into Belgium can now enjoy increased conversion and authorization rates with the introduction of Bancontact, a preferred payment method in this European market, with a 35% local market share.
Faster and easier to manage payouts: 2Checkout clients benefit from self-managed payment settlement tools that allow them to edit details related to payout currencies in order to minimize foreign exchange rates cost or to adjust minimum transfer limits.
Global sales tax management for any business model anywhere in the world: Previously available for clients working with a merchant and seller of record model, global sales tax management services are now available for clients working with 2Checkout under any business model, regardless of where or what they are selling. This service is relieving merchants of the burden of staying up to date with international regulations, calculating and collecting sales tax and VAT from global markets.
Regulatory compliance update: Along with the growth of the global digital commerce market, regulatory bodies reshape legal frameworks so the end-customer will benefit from high quality services and products, privacy and security. 2Checkout is constantly adapting its services to meet industry requirements, such as the latest taxation and fiscal regulation changes in the UAE, India, Belarus, and Turkey; as well the PSD2 directive.
Improved platform performance and scalability: Infrastructure updates in the 2Checkout datacenters, improved security and data privacy tools and protocols, together with enhanced monitoring capabilities, all ensure that the Avangate Monetization Platform continues to be scalable and ensures business continuity regardless of the transaction volume.
For more details on the 2Checkout platform enhancements, and package-related availability, please read the dedicated 2019 Summer Release blogpost.