Bill Cohn, Head of eCommerce Product, will be on stage. Learn more about his presentation below.
- Bill Cohn, Head of eCommerce Product
- Paul Finley, eCommerce Sales Manager
- Dan Hernandez, eCommerce Sales Manager
- Derek Lindholm, eCommerce Sales Manager
- Jim Robinson, eCommerce Sales Manager
- Alexander Nagy, Strategic Partner Marketing Manager
Worldpay Session - 24th October 2018, 11:30AM
Fine Tune Your Authorization Strategy: Capture More Revenue and Keep Your Subscribers
While eCommerce share of consumer purchases in the US continues to grow at ~16% annually, the cost of acquiring and retaining subscribers is also growing. Brick and mortar merchants still have an advantage: approval rates for card present sales average 96% while the median approval rate for eComm merchants is 85%. If an in-store buyer’s payment method is declined, they likely pull out a different card or method. For online/mobile shoppers, alternative products and services are just a couple of clicks away and buyers are still much more likely to abandon their cart. All of which points to the imperative: optimizing online payment conversion. eCommerce merchants simply can't afford to lose subscribers during the payment process, whether it’s on their initial payment or a subsequent billing attempt.
Join Bill Cohn, Senior Product Leader at Worldpay, to study the subscription payment lifecycle, where payments can fail and the tools Worldpay has developed to help.