Trek partnered with Gr4vy to energy an online-to-offline cost expertise, providing customers correct stock checks and simplified checkout.
Gr4vy’s cost orchestration dynamically routes transactions, which reduces friction, will increase authorization charges, and permits Trek to handle a number of retailers effectively.
Gr4vy gives Trek with a no-code, cloud-native platform to shortly implement numerous cost strategies, adjust to knowledge legal guidelines, and improve fraud prevention.
In terms of shopping for bicycles and biking equipment, customers typically desire a purchasing expertise that takes place in a number of channels. To higher accommodate these altering preferences, bicycle manufacturing firm Trek has chosen funds infrastructure-as-a-service (IaaS) firm Gr4vy to energy an online-to-offline cost expertise that allows customers to Purchase-On-line-Pickup-In-Retailer (BOPIS).
BOPIS has grown with the surge in ecommerce, together with heightened expectations of customers, preferring to order on-line and choose up in-store. The truth is, 50% of customers choose on-line shops primarily based on in-store pickup availability. These modifications in preferences, nonetheless, come on the identical time that retailers and producers are dealing with cost processing and stock administration challenges that pose checkout points and inventory shortages. To efficiently execute BOPIS, retailers should guarantee correct stock updates and a dependable cost system.
Gr4vy is partnered with online-to-offline purchasing API answer Regionally to allow Trek to point out real-time stock knowledge from its community of shops. This visibility permits customers to test inventory availability on Trek’s web site and full the transaction on-line, whereas choosing the merchandise up in-store.
“Our purpose is to offer enterprises full management over their cost processes whereas eradicating pointless complexity,” stated Gr4vy Founder and CEO John Lunn. “Finally, simplifying funds, so retailers can concentrate on what really issues—progress.”
With its cost orchestration system, Gr4vy dynamically routes transactions to the optimum cost service supplier to assist scale back friction and enhance authorization charges. When a buyer completes their buy, Trek and the native retailer obtain the transaction particulars, and the client can choose up their merchandise within the retailer. Gr4vy’s dynamic cost routing helps Trek handle on-line and in-store transactions throughout a number of retailers of report.
Gr4vy additionally provides Trek a no-code methodology of including a number of cost choices, together with digital wallets, Purchase Now, Pay Later (BNPL), and various cost strategies. “Partnering with Gr4vy has reworked how we strategy funds, enabling us to seamlessly combine choices like BNPL and native store stock in a single checkout expertise,” defined Trek Vice President of IT and Digital Steve Novoselac.
Gr4vy is cloud-native, PCI Stage 1-compliant, and permits retailers to arrange devoted situations in particular areas to enhance transaction pace and adjust to knowledge localization legal guidelines. Moreover, the API is about as much as permit Trek to shortly implement new cost strategies, currencies, and fraud prevention instruments.
Based in 2020, Gr4vy affords a platform that permits companies to realize entry to over 400 cost strategies with a single integration. The platform additionally affords anti-fraud instruments, and helps cost service suppliers optimize their cost stack with out the necessity for IT experience. In 2022, the California-based firm was awarded High Rising Fintech Firm on the Finovate Awards. Earlier this month, Gr4vy partnered with Australia-based New Funds Platform (NPP) Azupay to carry account-to-account cost options to Australian e-Commerce companies.
Photograph by Pavel Danilyuk
