London: Checkout.com has partnered with Vinted to improve digital payment systems for the second-hand fashion marketplace. The collaboration utilises advanced payment technology and AI optimisations, leading to increased transaction efficiency and user engagement, supporting Vinted’s growth across 20 countries.
Checkout.com, a global digital payments company, has announced an influential partnership with Vinted, an online marketplace dedicated to second-hand fashion. With millions of members across over 20 countries, Vinted aims to transform the second-hand fashion landscape by enabling users to easily buy and sell pre-loved items through its digital platform.
The partnership leverages Checkout.com’s advanced payment technology to enhance transaction performance and support Vinted’s expanding user base. The integration has not only improved the efficiency of Vinted’s payment systems but has also enriched the overall digital experience for its customers.
A significant aspect of this collaboration is the Intelligent Acceptance feature from Checkout.com, which applies bespoke AI optimisations tailored to Vinted’s unique traffic patterns. These data-driven enhancements have led to a reduction in failed transactions, thereby bolstering user trust and increasing engagement on the platform. Notably, in 2024, Vinted recorded an impressive 4.15 percent uplift in overall acceptance rates for payments processed through Checkout.com.
The partnership has shown tangible results, particularly evident in the volume of transactions processed. Between June and November of the previous year, Vinted tripled its transaction volume via Checkout.com, highlighting the critical role of a robust payment infrastructure in facilitating rapid growth.
Moreover, Checkout.com’s extensive regulatory expertise and localised acquiring network throughout Europe have been essential in helping Vinted navigate the intricate demands of varied markets. This partnership ensures that Vinted remains compliant with region-specific regulations while supporting local currencies, granting the company the flexibility and scalability necessary to flourish in diverse environments.
Modestas Tursa, Vice President of Payments at Vinted, commented on the significance of the partnership, stating, “Delivering exceptional digital experiences is core to our mission of making second-hand first choice, and our partnership with Checkout.com has been instrumental in helping us achieve that. Checkout.com’s powerful technology and deep expertise across European and UK markets allow us to scale confidently while achieving high-performance payments and delivering the digital experience our users expect.”
Antoine Nougué, Chief Revenue Officer at Checkout.com, emphasised the shared vision between the two companies, saying, “This partnership reflects our shared vision for the future of digital commerce. Through our advanced, modular technology and a relentless focus on payment performance, we’re helping Vinted achieve operational excellence while setting new standards for the second-hand fashion industry. Together, we’re empowering individuals and shaping the digital economy of tomorrow.”
Source: Noah Wire Services
