GoDaddy and Worldpay announced the beginning of cooperation with a view to the subsequent launch of the joint Commerce 360 platform.
The joint platform of companies is a tool that simplifies online sales and cash payments at retail outlets, and also offers analytical data to improve customer interaction mechanisms.
The parties to the cooperation declare that the platform combines GoDaddy omnicommerce solutions with payment tools provided by Worldpay.
Commerce 360 is a universal multi-channel solution that allows small businesses to accept payments through any channel. This is stated in the press release of the parent company Worldpay FIS.
Thanks to a customizable curated website and merchant dashboard, small retailers will be able to sell products through online marketplaces as well as through social networks. Effective configuration of the web page will allow getting started quickly.
The degree of quality of the order processing procedure is currently the main factor in the formation of the seller’s assessment by the client. This statement is confirmed by the statements of buyers that they decide to continue interacting with the merchant based on the experience of making a purchase.
Jonathan Friedman, co-founder, and CEO of Karma said last year that the procedure for ordering goods is a big problem. He noted that the duration of the process, which involves entering data, registering, and adding bank cards, in 75% of cases makes consumers refuse to buy.
For merchants, this problem is becoming more urgent and may turn into a threat to their existence. The long waiting time for order processing and excessive identification requirements cause rejection among buyers. Representatives of the trade sphere are forced to react to this circumstance. Those who decide to ignore the preferences of buyers will find themselves in a situation of the total decline.
In January, FIS announced that it was restructuring to create two separate divisions, FIS and Worldpay. The company’s CEO Stephanie Ferris said that amid the acceleration of payment transactions, there was a need to change the capital allocation strategy. She also noted that after the creation of two separate firms, a close partnership will remain between them, which is necessary for critical capabilities such as embedded finance and loyalty with premium payback.
Stephanie Ferris expects that both companies will become market leaders separately from each other. He sees the final positive result in an increase in the level of efficiency of the entire business structure, within which independent firms will exist in the context of a single whole. Stephanie Ferris noted that Worldpay operates in a more dynamic and disruptive end market compared to FIS, where more attention is paid to growth.
GoDaddy is a private company that provides hosting and domain name registration services for small businesses and individuals. The firm was founded in 1997. Now the company supports about 30 million domain names.
As we have reported earlier, Microsoft expands its collaboration with Worldpay from FIS.