09/03/2020 New Payment methods
In 1974, it all started in a small shed in the backyard. Sjoerd Raven founded his first animal shop, combined with his stand for the local market. Shortly after, the growth started, from shed to animal boutique, from animal boutique to fishing goods store. The result of this evolution and growth? At the moment, Raven Hengelsport is the largest fishing store in the entire Benelux.
Raven’s growth is extremely impressive, as the company is at the top of the list when it comes to biggest fishing stores in Europe. When a company has expanded and grown over the years, like Raven, it can be difficult to find new ways to continue that growth. For Raven there’s been an important catalyst for the recent growth and their plans for the future: Santanders Betaal per Maand.
Direct access, no risks
Betaal per Maand is a payment method which allows consumers to directly access their products, but pay for their product in monthly installments. Betaal per Maand was developed by the Santander Group, one of the major financial institutes in the world and is exclusively available at MultiSafepay.
The payment method has several key components. First and foremost, no financial risk for the webshop, Santander takes the financial risk upon itself. As for the consumer, Santander is quite flexible when it comes to agreements, the payment can be spread out over 12 to 72 months and the outstanding amount can be paid in full at any time - without extra costs.
Betaal per Maand gives consumers the option to purchase products that might otherwise be out of budget for some people, all while ensuring that the transaction is safe and responsible.
Ideal for an extensive product range
Raven might’ve had small beginnings, but it didn’t take long for the store to be renowned locally as the address for all your fishing tackle. This means they offer products for beginning fishermen, but also the experienced ones. An extensive product range means a lot of different prices, fishing reels can start at € 10, but the more expensive ones are priced at around € 1000, and that’s just one product. As Raven told us:
"The main advantage of Betaal per Maand, is the fact that it allows people to purchase products which they might not have bought without a payment method such as this. It’s important for us that it’s carried out in a responsible manner.”
The right payment method, for the right store
Here at MultiSafepay, we have ample experience matching webshops to payment methods that really work well with their products and/or services. When looking at the diverse product range that Raven has on offer, we quickly knew that Betaal per Maand would be a great payment method for them. In hindsight, the decision was the right one, as the results showed excellent changes in various key metrics.
For the webshop
The consumers that opted to pay for their products through Betaal per Maand, ended up paying an average order amount that was six times as high (€ 552) as the average order value for other payment methods that Raven offers. For individual consumers, the conversion rate was twice as high for Betaal per Maand.
Even though it’s been a fairly short period of time since Betaal per Maand has been activated by Raven, the results are impressive. After only six months, the payment method is responsible for 1,5% of the total turnover, and 7% of the turnover when looking at purchases above € 250.
When comparing the results of this financial year with last year, there’s a remarkable increase in proceeds, 52% higher than last year.
For the consumer
Santander ensured that the entire process of purchasing a product through Betaal per Maand was simple and safe. Credit requests from up to a € 1.000 are processed completely automatically, transactions ranging from € 1.000-8.000 will be processed within one to two days, to ensure that the consumer has the right credit for the requested amount. Santander also screens every webshop that wants to make use of Betaal per Maand, which allows the consumer to purchase from these webshops without doubting the webshops intentions.
Offering the right payment method for the right products, is an important part of being a successful webshop, payment methods vary between countries, products and consumers. Here at MultiSafepay, we have an extensive payment method mix, ensuring we have the right tools for you.