There are more than 300 payment types and more than 600 payment providers globally. So, a major challenge facing companies as they move into new countries and new markets is the complexity of accepting payments in locally preferred methods. The ability to recognize and offer these is the key to maximizing sales conversions. Bedfinder turned to Google to help them succeed in July 2017.
Located in Zurich, Switzerland, bedfinder provides accommodation for leisure and business travelers, with a portfolio of more than 100,000 hotels worldwide. Merged with the Hotelplan group in 2016, and active in more than ten markets globally, bedfinder’s audience is aged between 25 and 35, non brand-oriented, and price-sensitive.
Google payment experts met with bedfinder’s CEO and online payment team. Once the team understood bedfinder’s objectives, they:
- Shared market insights and locally preferred forms of payments
- Advised on how to win more transactions and conversions by improving declines rates and reducing chargebacks
- Introduced Google’s RfP processes and e-auction approach to pinpoint, from multiple offerings, the payment provider most suited to their needs
- Referred bedfinder to Google payment partners
This consultation process enabled bedfinder to understand the payment landscape better in every market, to find a new complementary payment partner and agree contracts in a relatively short time. It also gave the team the overview they needed to effectively oversee and manage their new partner, who has already helped them see a conversion uplift of 5% – with projected additional revenues of seven figures.
From Q3 2018, bedfinder also began using Google’s localization service with the aim of improving user experience, and reaching more local users in every market.
“Google have become our trusted advisors and partners for digital payments. Thank you for showing us the way, saving us time and money.” Raffael Grütter, Head of E-Business & Metasearch, bedfinder