ITQ is Partnering with World-Class PSP Mollie

September 27, 2022

We’re thrilled to announce that ITQ is now working with Mollie, one of Europe’s fastest-growing payment service providers!

As a payment service provider (PSP), Mollie offers simple finance solutions for all e-commerce stores. By improving and optimising payment methods, Mollie has helped numerous businesses grow and nationalise sales.

Now, ITQ is offering that opportunity to your business as part of our services!

We want all our clients to know exactly what this means for them, so we’re going to tell you the essential information about this partnership: what Mollie does, how they can improve your sales, why ITQ and Mollie work together to make your business grow, and how to get in touch.

We’ll also let you know about Mollie’s most recent survey, giving online retailers 5 key insights into consumer behaviour for the upcoming year!

What Does Mollie Do?

If you haven’t heard of Mollie yet, this might be a game-changing discovery for you!

Mollie has a simple mission: make payments effortless, secure, and versatile. They do this through a powerful payment API that simplifies the entire purchase experience from start to finish. Combining numerous integrations, payment method options, security features, and options to maintain solid branding, Mollie takes checkout and payment to the next level. Here’s what Mollie can offer your e-commerce business:

More Conversions - Payment API

Simply put, an API (or applications process manager) acts as the intermediary between customers and businesses for completing checkouts online. When it comes to payments, an API is virtually the engine that makes sales work.

Most e-commerce businesses will be familiar with the problem of customers stopping halfway through entering their payment information. A payment API simplifies that process by instantly retrieving the required information already stored on a customer’s device. Logged answers are automatically filled in, making payment possible in seconds.

If you love coding, you’ll be excited to know that this API can be easily edited for tailor-made customisation. If you don’t, no need to worry – Mollie offers free plugins to make customising easy!

Versatility – Easy Integration

If you think you’ll be able to find a major payment platform, method, or application that Mollie doesn’t integrate with, all we can say is: don’t waste your time!

Just a few of the major integrations Mollie offers are:

· WooCommerce
· Shopify
· Magneto

And some of their payment options include:

· Apple Pay
· Klarna

That’s not even mentioning support for all the world’s leading credit card brands, like Visa, Mastercard, American Express, Cartes Bancaires, and CartaSi.

Working with Mollie gives you access to all these integrations and more, meaning that you can create a sales experience optimised to meet your customer where they’re at.

Mollie also uses recurring payments to simplify subscriptions, one-time fees, and instalments. Managing a wide variety of specialised payments is easy and efficient with their tools.

Security – Safe Data Storage

With all these integrations and payment methods available, Mollie prioritises data security. One of their core brand values is transparency, and they’re incredibly open about the ways in which they protect data – both yours and your customers.

All data is stored on Dutch servers, and Mollie is fully compliant with the European Banking Authority’s Guidelines for internet payment security. They also employ the Three Lines of Defence model, meaning they employ independent Compliance and Audit officers to manage both security and efficiency.

When it comes to credit card details, Mollie has that covered too. They’re fully PCI-DSS level 1 certified. Card details are safeguarded with cutting-edge security strategies.

Branded Checkout – Consistency Your Customers Will Love

If you think wowing the customer ends as soon as they click “proceed to checkout,” think again.

We already know that long checkout forms with no option to autofill can stall conversions. But in addition to that, branding details are a must if you want your customer to trust your services and products.

All the effort you put into marketing and branding should continue through the entire customer journey. When customers make a payment, they’re putting their faith in you as a provider. Giving them a familiar, well-crafted experience assures them that they’re putting their trust in the right place.

Customising your checkout process with colours, logos, and wallpapers continues your brand story when your customers will value it most.

Mollie’s European E-Commerce Report

Mollie also keeps you up to date with the most important e-commerce news available through the Mollie Content Hub. Their recent post, “The European Ecommerce Report: 5 Key Takeaways,” gives you a view of the landscape now that the post-pandemic internet sales boom has settled down.

Mollie conducted a survey of over 3,000 European customers about their shopping behaviour. This survey spanned multiple countries, breaking down data to show trends on macro and micro scales. These are the key findings you need to know:

1. Online shoppers are here to stay

Online retailers saw a huge increase in sales during the pandemic, and there have been mixed opinions about whether a bust is on the way.

Data shows that 35% of our people are shopping more online post-pandemic. The unusual circumstances may have brought them to online shopping, but lower price points and convenient shipping options are keeping them here.

2. Consumers are pessimistic about the 2023 economy

The general tone for European commerce in the coming year has been negative, and customers have taken notice.

52% believe that their country’s economic situation will worsen over the next 12 months. While lower prices are still a significant draw for online shoppers, the expectation of an economic downturn is likely to affect consumer behaviour, and businesses can expect lower spending rates if 2023 proves difficult.

3. Payment methods matter

Mollie’s survey answers had plenty of variation from country to country, but nearly everyone could agree on this.

87% of consumers said it was important to them that retailers offer their preferred payment methods for online shopping. This isn’t surprising – these payment methods are what consumers trust with their money and data. However, prioritisation showed that more than half of that 87% considered this “very important,” rather than “somewhat important.”

4. Connection between cart abandonments and shipping costs

Cart abandonments are a unique struggle for online businesses, and Mollie’s survey gives a few options for improving your chances of completing purchases.

48% of respondents preferred using an international retail wholesaler like Amazon for default online purchases. Wholesale purchasers are drawn to features like free delivery – carts are often abandoned when a customer sees a high shipping cost or tax.

However, this isn’t universal. For example, Dutch consumers prefer to purchase directly from a retailer’s online store. This leads us into the final takeaway:

5. E-commerce isn’t uniform across Europe

While these ideas are useful to keep in mind for any online retailer, it’s important to remember that this report shows a lot of variety.

Compared to the rest of Europe, Belgian consumers are more likely to shop in-store rather than online over the next 12 months. French consumers are more concerned about insecure payments, compared to other countries. UK consumers are most likely group to reduce their online purchases if 2023’s economic scenario proves challenging. All this information and more is available within Mollie’s report, which you can easily access on their site.

What Our Partnership Means for Our Users

At this point, it’s not difficult to see why we’ve chosen to partner with Mollie.

ITQ is always looking for ways to optimise your e-commerce business, and Mollie’s best-in-class integrations, customer support, and international payment options give our customers more options to grow and expand.

We always keep clients’ individual needs in mind and have a commitment to create a true partnership.

Mollie holds this value, too. Their team is dedicated to creating a high-standard, localised experience for the businesses that work with them. They support the likes of Mazda, Ooni Pizza, and Gymshark with their payment strategy. No matter your business’s size, they treat you as an equal.

There was no doubt in our minds that Mollie was the best choice to give our customers the best value for a fair price. Their easy and fast onboarding, smart dashboard, and support teams located across Europe make using and managing their payment system an effortless experience.

We’re looking forward to giving our customers even more opportunities for growth through this partnership!

Want to Know More?

If you want more information about how Mollie can transform your business through an effective payments strategy, you can easily contact them here.

Or, if you’d like to get in touch with ITQ to ask about how you can work with us to use Mollie to upgrade your business’s payment methods, get in touch with us here!

We’d love to hear from you and can answer any questions you have about working with ITQ and/or Mollie.