GoKwik and CRED Join Forces to Enhance Payment Options and Trust for D2C Brands
- ByStartupStory | June 22, 2023
GoKwik, Asia’s leading eCommerce enabler, and CRED, a high-trust community of creditworthy individuals, brands, and institutions, have announced a strategic partnership to extend CRED’s payment options to brands on the GoKwik platform. This collaboration aims to enhance the online shopping experience and foster trust for direct-to-consumer (D2C) merchants using the GoKwik checkout platform.
With CRED boasting a community of top 1% shoppers and tastemakers, this integration will empower brands on GoKwik to drive higher discoverability, improve prepaid conversions, and reduce return-to-origin (RTO) instances by providing a seamless and rewarding shopping experience to CRED members.
Chirag Taneja, Co-Founder and CEO of GoKwik, expressed his excitement about the partnership, stating, “GoKwik is on a mission to democratize the shopping experience, and one of the important themes is solving for trust. The partnership with CRED is a step in that direction. Merchants on our network will benefit by being able to provide a trusted payment option for CRED members, which will help them drive higher conversions, higher prepaid success rates, and reduce chances of returns before delivery.”
Through this collaboration, CRED pay will be integrated into GoKwik’s comprehensive range of payment solutions at the checkout. CRED members will enjoy a frictionless, fast, and secure checkout experience on D2C brands powered by GoKwik, leveraging their preferred payment options for transactions.
Miten Sampat from CRED emphasized the platform’s commitment to frictionless and rewarding experiences, saying, “The integration of CRED’s payment suite with GoKwik allows merchants and CRED members to access a secure, seamless checkout experience. This partnership unlocks the full potential of their businesses, driving discovery, retention, and a frictionless experience for both members and merchants.”
The successful integration of CRED pay is already witnessed on prominent GoKwik merchants such as Boat, Bombay Shaving Company, The Man Company, Snitch, and more. Early results have been promising, with some brands experiencing up to a 20% uplift in prepaid conversion rates and a reduction in RTO by about 5-10%.
Shantanu Deshpande, Founder and CEO of Bombay Shaving Company, expressed his delight about the partnership, stating, “We are so delighted that two of our trusted partners have joined hands. CRED and GoKwik are both shopper favorites in their own space, and with the two coming together, not only the checkout but the entire payment process has become a no-effort process for the shoppers. We are looking forward to scaling our growth together with CRED and GoKwik.”
Revant Bhate, Founder of Man Matters, highlighted the benefits of the integration for their business, stating, “We have been an early adopter of new checkout solutions with the vision of providing seamless health solutions to our users. GoKwik gave us an uptick in prepaid revenue and lower RTO rates, and the addition of a trusted partner like CRED to GoKwik stack will further improve our pre-paid share. This integration between CRED pay and GoKwik will enable us to deepen engagement with discerning CRED members through rewards and offers and increase conversion and retention on the Man Matters App.”
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