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Musicfy
Musicfy
Musicfy Today
Company Profile
- Subscrition Revenue Model
- Primary Markets: USA and Western Europe
- Optimize Authorization Rates
- Expand Customer Base
- Enable in-app payments
Objectives
Received Payments Report
Approved - 82%
Declined - 10%
Invalid Card - 4%
Blocked Card, Card Expired
CVC Declined, Pin Tries Exceeded - 2%
Not Enough Balance - 1.5%
Fraud - 0.5%
Customer Spotlight: Spotify
What can we learn from Spotify?
“Seeing payments as a driver and enable of growth has really helped us reach the fifty million plus paying subscribers that we have today.” - Andy Wiggan, Spotify's Head of Payments
Growth
“Optimizing the checkout flow with Adyen has been a big focus for us – for example, we went from a two-page checkout to a one-page checkout because we were able to leverage some of the technologies Adyen has while still outsourcing most requirements related to PCI compliance. In fact, we solved quite a few things around the customer experience with the Adyen integration. Another interesting example of improving the customer experience is when we recently launched in Indonesia with cash-based, ATM, and bank transfer payment methods. This was really important since the market is still primarily cash-based, card penetration is low, and people aren’t used to recurring subscriptions. This was the first time where the payment experience was actually a key part of the launch story for much of the local media.”
Enhance Customer Experience
“It’s super important for us as a subscription business to make sure that recurring payments are successful. So we need to minimize involuntary churn – that is to say, churn that happens due to payment failure. We do this in a couple of different ways – one is by having rules in place to retry transactions that fail and then retry specific transaction failure reasons, and the other is by relying quite heavily on Adyen’s internal retry logic to maximize our retry success rates. We’ve seen significant improvements in our overall authorization rates on recurring subscriptions through that combined approach.”
Optimize Payments
Why Adyen?
The Solution
Traditional Value-chain
vs.
Adyen's Value-chain
- Unified commerce across all sales channels
- Data centric platform helps maximize revenue while minimizing risk
Benefits of our single platform
- Global platform with local payment methods and acquiring expertise
- Revenue Accelerate
- Account Updater
Recommendations
- In-app Payments
“A big advantage of working with Adyen is having a full payments stack of gateway, risk management, and acquiring in one system. This means we can make data-driven decisions on how to optimize our payments. In France, for example, we were able to increase our authorization rates by 10%.”
Case Study: TransferWise
-Wade Stokes, TransferWise
- Adyen’s Real Time Account Updater has been able to recover more than 24% of invalid card declines, as well as 11% of expired card declines
Minimize failed payments
- One large Adyen merchant using Real Time Account Updater has seen more than 16% of its Invalid Card, Expired Card, and Generic Declines (including Do Not Honor) recovered.
“Thanks to Adyen’s support of all popular payment methods, it is possible for BlaBlaCar to cater to local preferences and support targeted payment methods, all of which are managed from a single system. With Adyen, moving into new markets can be as easy as flipping a switch and adding a new payment method. This has been very helpful as we expanded into 6 countries in a single year.”
Case Study: BlaBlaCar
-Amelie Seguret, BlaBlaCar
- What’s your strategy for capturing more market share from your competitors?
- What types of payment data are most important to you?
Questions
- What improvements are you looking for regarding your customer’s payment experience?
- How do you plan to expand revenue streams?
- How are you managing payment fraud?