Euronet unit epay introduces gift card solution for ABOUT YOU in Europe
As a new growth booster for the fashion-tech start-up, the provider of payment transactions and prepaid possibilities is developing a gift card system for the ABOUT YOU webshop in seven European countries and for third-party sales in Germany’s retail.
Martinsried (Munich)/Hamburg, March 21, 2019:
In the new year, the fashion online shop ABOUT YOU is continuing its growth course with a new gift card system which is implemented by epay. The gift card solution includes flexibly selectable value levels from 10 to 150 euros for the webshop in Germany, Austria, Switzerland, the Netherlands, Belgium, the Czech Republic and Poland. The expert for electronic payment transactions will integrate ABOUT YOU into its network of the largest retailer from February. In the form of a haptic gift card with a fixed value of 25 euros and a variable value of 15 to 150 euros, the fashion online shop will benefit from the new visibility in retail and will be able to exploit further market segments.
“We are the only provider that guarantees both the technological solution and a comprehensive distribution in Europe,” says Stephan Heintz, director of Issuing at epay, describing his company’s value-added chain.
This includes consultation, conception, implementation in webshops, production and retail distribution, gift card code authorization and payment processing via its certified in-house data centers, as well as daily support and reporting.
ABOUT YOU exploits new potential with haptic gift card in the retail segment
Introducing the gift cards and using the epay portfolio will enable the company to access new customer groups and use new ways in omnichannel marketing.
By utilization of the gift card solution for traditional and ecommerce, ABOUT YOU has at its disposal the whole online and offline product range and marketing options such as couponing, product bundles and white label solutions. “In addition, in our experience a fashion gift card is a classic present, and the person receiving it often spends more than the gift card balance in the online store,” says epay’s director of Issuing, explaining the additional revenue opportunities for the fashion-tech start-up.
The fullservice provider’s numerous retailers also benefit from the attractive new addition to the fashion sector in their gift card range.
epay extends its own fashion portfolio and worldwide marketing options for ABOUT YOU
Connecting top brands with top retailers is a vision and, at the same time, a core competence of the company, which belongs to the stock exchange group Euronet Worldwide, Inc. . It relies on a solid and fast-growing fashion expertise from its cooperation with internationally renowned designer brands and leading online shops, as well as fashion department store chains.
The company recorded a 62-percent increase in revenue in the fashion gift card segment from January to December 2018, based on the face value of the gift card. Further customers from the fashion industry will follow in the next few months. For them, too, all the services will be combined in the company group so the partner will obtain everything from the one same source: the technological setup to operate a gift card system for digital and offline business, the sales platform at up to 719,000 point-of-sales worldwide, and international B2B marketing via loyalty programs through the affiliated company cadooz.
About ABOUT YOU
ABOUT YOU digitalizes the classical shopping spree and creates a personalized shopping experience on your smartphone. The online shop adapts itself to the individual style of each customer, creating an individual shop for each customer which only shows relevant products and outfit suggestions.
At ABOUT YOU, the focus is on the customer, and therefore on an unlimited number of different personalities which find their expression through fashion, supported by ABOUT YOU. Alongside the versatile inspiration, women and men between 18 and 49 years of age can find a product range with more than 200,000 items by over 1,000 brands at aboutyou.de and in the ABOUT YOU app. With over 11 million active users per month, ABOUT YOU is one of the largest fashion and lifestyle platforms in Europe. In 2017/18, the fashion-tech company generated a turnover of 283 million euros; for the current financial year, a turnover of 450-480 million euros is expected, which corresponds to an annual transaction volume of more than 1.6 billion euros. With a company valuation of over 1 billion US dollars, ABOUT YOU is regarded as the first unicorn from Hamburg.
ABOUT YOU GmbH was founded in 2014 as a subsidiary of the Otto Group and is now part of the group portfolio. The management team includes the multiple founders and digital experts Tarek Müller (30, Marketing & Brands) and Sebastian Betz (28, Tech & Product), as well as the former Roland Berger strategist Hannes Wiese (37, Operations & Finance).
epay is a world-leading full-service provider for payment processing and prepaid solutions that processed 1.15 billion transactions in 2018. The company has developed a comprehensive network of retailers consisting of 719,000 point-of-sale terminals in 45 countries to connect well-known brands with consumers around the world. It boasts a portfolio of gift cards (prepaid, closed loop and gift cards), corporate incentives and payment solutions (card acceptance, terminals, e-commerce, mobile and internet of payment) for omnichannel commerce, and offers its services thanks to its proprietary cash register integration software.
epay is a division of Euronet Worldwide, Inc. (NASDAQ: EEFT), a Kansas-based company which earned $2.5 billion in revenue in 2018, employing a staff of 7,100 employees and serving customers in 165 countries.
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