Roadsurfer Achieves 11% Share Of Checkout With Ivy's Open Banking
What’s better than the feeling of hitting the open road? An RV and camper rental process with zero friction.
Industry:
eCommerce
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Segment:
Mid-Market
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Use Case:
Instant Bank Payments
For Roadsurfer, the world’s largest RV rental company, ensuring that their customers’ journey starts with a smooth and seamless checkout experience is paramount. With their operations spanning 16 countries and over 150 million euros in yearly payments, Roadsurfer is constantly evolving to deliver the best for their customers.
Now, they’ve partnered with Ivy to create a seamless payments experience and introduce open banking as a low-cost alternative to payment methods like credit cards and Klarna.
We sat down with Simon Illner, Roadsurfer’s Director of Product, to discuss how partnering with Ivy helped them transform their payment infrastructure, reduce costs, and enhance their customer experience.
The Challenge
"Our main goal was creating a smoother checkout experience—one that reduced friction for our customers while improving efficiency and cutting costs for us. That’s why we were eager to implement a pay-by-bank solution,” explains Simon, when asked what prompted the company to look for an open banking provider.
“As we grew, so did the costs associated with traditional payment methods like wallets and credit cards, and we needed a smarter, more cost-effective solution.”
The challenges Roadsurfer was looking to solve included:
High Fees: Wallets and credit card payments were becoming increasingly expensive. Roadsurfer wanted to strategically reduce costs by introducing a low-cost alternative and driving up share of checkout for it.
Complex Payment Process: Manual bank transfers were prone to errors, and with SOFORT being consolidated into Klarna, end users are now required to set up a Klarna account, which adds friction and length to the checkout process.
Payment Failures: Customers paying by credit cards often hit their credit limits, leading to failed transactions, lower conversions and a poor customer experience.
The Solution
“Ivy gave us the chance to strategically shift away from more expensive methods like wallets and credit cards. This instantly reduced our fees — up to 3x on every transaction,” says Simon.
"With Pay By Bank, we don’t have to worry about payment failures due to users reaching their credit limits. If they run into issues with traditional payment methods, we can simply redirect them to the checkout and prompt them to choose the Pay By Bank option, which helps improve our conversion rates.”
“Ivy instantly reduced our fees — up to 3x on each transaction.”
So, has the partnership proven to be a success? Simon thinks so, pointing to a few things in particular:
Streamlined checkout and eco-friendly rewards
By following Ivy’s UX guidelines, Roadsurfer created a more user-friendly checkout experience. Ivy Rewards’ scheme of supporting reforestation efforts with every purchase made through Pay By Bank also incentivizes more users to choose this option and aligns with Roadsurfer’s sustainability goals.
Seamless bank payments
Customers can now pay directly via bank without manual data entry or account setup, reducing friction and speeding up the payment process.
Boosted conversion
Account-to-account payments eliminate issues like exceeding credit card limits. If users face these challenges with traditional payment methods, they can be seamlessly redirected to complete their purchase via their bank, improving conversion rates, reducing cart abandonment, and strengthening the resilience of the checkout process.
Improved efficiency
Ivy’s instant settlements and automated payment reconciliation improves access to cash flow and streamlines back-office operations, increasing overall efficiency.
The Results
“We achieved 11% share of checkout with Ivy by following their UX recommendations and additionally activating their configuration to plant 1 tree per order,” Simon explains.
“This helped us realize significant cost savings while increasing checkout conversion — a true win-win scenario.”