Vinted, Europe’s leading marketplace for secondhand fashion, is on a mission to redefine how we shop and embrace sustainable fashion. Back in 2008, Vinted Co-Founders Milda Mitkute and Justas Janauskas created a simple platform for friends to swap clothes. Today, Vinted has a community of millions of users in over 20 countries and is just as committed to making second-hand first choice.
In 2023, Vinted partnered with Checkout.com to enhance its payment processes and drive growth across Europe & the UK, with a mutual focus on performance, transparency, and customer-focused innovation. The collaboration has helped Vinted provide a reliable and efficient payments experience to its rapidly growing community – ultimately increasing its acceptance rate by 4.15%.
“Providing outstanding digital experiences is central to our mission of making second-hand first choice at Vinted. Checkout.com’s advanced technology and deep knowledge of European and the UK markets have been key to helping us achieve this, enabling us to scale with confidence and deliver the high-performance payments our users expect.” Greta Atminaitė, Strategic Partnerships, Payments, at Vinted.
Serving millions of customers and rapidly growing across Europe, Vinted needed a payments service provider (PSP) that could handle scale, speed, and complexity across Europe’s diverse markets – with a focus on consistently high performance and reliability.
At the same time, Vinted needed support to focus on its core mission of making second-hand first choice while keeping its costs lean. So, it was essential Vinted found a payments provider that would help it champion these values with an optimized payment process to boost its overall revenue, not eat into it.
Another key challenge for Vinted was finding a PSP that could support it as it innovates to create the best experience for its users. This put adaptability and expert guidance at the top of Vinted’s PSP checklist.
Vinted was also looking for a PSP with expertise and a strong presence in the UK market to support its growth in the market, and having a direct UK acquiring license is critical to this. Using local licenses reduces fees and improves acceptance rates.
Vinted partnered with Checkout.com, using our cutting-edge payment solutions to elevate its transaction success and reinforce the impact of sustainable shopping. As a company that has offset 100% of our carbon emissions since being founded, we share Vinted’s strong commitment to sustainability.
Our Acquiring solution has provided Vinted with consistently high and reliable performance, amplified by Vinted’s use of our UK acquiring license. Local acquiring licenses reduce cross-border settlement fees and increase acceptance rates because local issuers trust local acquirers more – they have more established relationships and a better understanding of the local market and customers' spending behavior.
Intelligent Acceptance (IA), our automatic performance optimization tool, helps Vinted unlock untapped revenue and increase conversions using a combination of advanced AI, global network data, and deep payments expertise. Its flexibility makes it the ideal solution for businesses as dynamic as Vinted, and we worked closely with Vinted to build its own custom IA rules. We also experimented with Vinted’s payments traffic and applied the insights to IA to help further boost its acceptance rate.
We offer Vinted bespoke optimizations, such as converting low-value exemptions to TRAs (transaction risk analysis) based on issuer preference – so Vinted doesn’t need to worry about which exemption is best, we handle that. We’ve also approached all integrations with Vinted’s third-party providers with speed and flexibility to support Vinted through its continuous growth.
Network Tokens is another Checkout.com tool that has enabled Vinted to improve its acceptance rate and payment security while reducing its scheme fees. The security of each transaction is important for Vinted to be able to create a safe and trusted marketplace for its community.
Our experience with other leading brands in similar sectors to Vinted, such as Farfetch, also gives us unique insights that can help Vinted conduct thorough research before making final decisions, such as whether to launch new APMs in a specific market.
As part of Vinted’s UK growth, we supported the scaling of Apple Pay – which typically has a higher acceptance rate than cards. Given the better user experience Apple Pay provides, due to less friction and 3D Secure (3DS) challenges, it’s significantly growing in volume across Vinted’s European markets.
Checkout.com’s high-performance and adaptive payments technology, commitment to true partnership, and expert guidance have helped Vinted increase its conversion rate and scale effectively across diverse European markets, supporting its mission to make sustainable fashion accessible. In the past six months alone, Vinted has increased its processing volume with Checkout.com – a testament to our leading payments performance and the trust in our partnership.
Our dedication to Vinted’s performance and innovative tools such as Intelligent Acceptance have seen Vinted gain a 4.15% uplift in acceptance rate with Checkout.com in 2024. Combined with the optimized security Network Tokens has provided, Vinted’s overall customer experience has improved, keeping customers coming back and strengthening trust.
Our partnership is transforming secondhand shopping into a convenient, frictionless choice for consumers everywhere. It’s an open and collaborative relationship that improves Vinted’s customer experience, fuels its growth and innovation, and boosts its bottom line.
By helping Vinted to lift acceptance rates by 4.15%, we enabled them to process millions more payments that would otherwise have failed. That’s millions more sustainable purchases finding new homes across Europe.
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