Worldline and Joom partner to bring social ecommerce to Russia
Bezons, 9 December 2021 - Worldline [Euronext: WLN], the European leader in the payments and transactional services industry and number 4 worldwide, today announced it has partnered with ‘social ecommerce’ platform Joom, to manage payments in multiple European countries.
Joom is the first marketplace to offer European merchants access to the Russian market. European online businesses and their Russian customers will benefit from the cooperation with Worldline through an optimised choice of payment methods, tailored to the specific needs of the 42 billion euro ecommerce market.
Joom wanted its Russian shoppers to have the widest choice of payment options possible, so that they are comfortable with the platform and return for new experiences. This means allowing customers to choose a payment mean that suits them best, therefore improving checkout conversation rates, as well as customer engagement and loyalty. Additionally, the Russian market, with its dynamic financial ecosystem and specific customer preferences, can be challenging to navigate for international merchants. Joom has been using Worldline’s Russian Payments Solution, a suite of products created in 2018, to respond to the unique opportunities of the country’s digital commerce and local payment preferences.
Yuri Ivanov, Co-founder & CMO at Joom, commented: “Russia is a key market for us with 144 million potential customers. Working with Worldline made what could have potentially been a difficult process extremely easy, and we are confident that we will be able to thrive in a new marketplace.”
Raymond Cui, Head of Marketplaces at Worldline’s Digital Commerce division, added: “Joom has a fascinating and unique business model – ‘social ecommerce’ is very different from other large, more traditional online shopping sites and it allows small businesses to gain worldwide exposure. Russia can be a challenging market to enter but Worldline has made it a priority to allow our clients to smoothly transition into this high growth market, and we are thrilled of our collaboration with Joom.”
Worldline [Euronext: WLN] is the European leader in the payments and transactional services industry and #4 player worldwide. With its global reach and its commitment to innovation, Worldline is the technology partner of choice for merchants, banks and third-party acquirers as well as public transport operators, government agencies and industrial companies in all sectors. Powered by over 20,000 employees in more than 50 countries, Worldline provides its clients with sustainable, trusted and secure solutions across the payment value chain, fostering their business growth wherever they are. Services offered by Worldline in the areas of Merchant Services; Terminals, Solutions & Services; Financial Services and Mobility & e-Transactional Services include domestic and cross-border commercial acquiring, both in-store and online, highly-secure payment transaction processing, a broad portfolio of payment terminals as well as e-ticketing and digital services in the industrial environment. In 2020 Worldline generated a proforma revenue of 4.8 billion euros. worldline.com
Joom, founded in 2016, is the first marketplace to offer European merchants access to the Russian market and has dozens of multi-brand sellers already receiving orders from Russia. The company has also recently launched Joom Logistics in Europe and Southern Korea in addition to its hubs in China and Turkey, to allow sellers to enter new markets and maintain attractive pricing, as well as live streams for brands to promote their goods and sell them live.
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