Nets 3-digit online shopping service reaches one million consumers

Source: Nets

More than one million consumers in the Nordics can now shop much easier online by entering just the three digits on the back on their payment card.

More than 1 million cards stored in Nets e-commerce service vastly simplifies the online shopping experience

The new service from Nets, so far available in more than 26,000 web-shops, vastly improves convenience for consumers and increases conversion rates for the merchant.

In short:
• "Save my card" has strong traction with well over one million saved cards - right now about 100,000 cards are added per week and over 500,000 cards were added in March alone.
• Vastly simplified online shopping experience for consumers - fastest checkout available using just 3 digits instead of 23.
• Now available in over 26,000 web-shops across Nets PSP-platforms, helping to increase conversion rates and sales numbers, and more gradually follow.
• First in a string of e-commerce services planned across the Nets Group leveraging on Nets ability to service merchants and consumers widely on a Nordic level.

The "Save my Card" service was launched late last year and now more than one million cards have already been stored. The service is currently being rolled out to all the Nets customers as it vastly simplifies the online shopping experience for millions of consumers in the Nordics by enabling them to securely save the payment card data across tens of thousands of web-shops. Once you have saved your card data in a web-shop with the service, only the last three CVC/CVV security digits needs to be entered when shopping. By just entering the 3 digits - also easy to memorize - the risk of consumers cancelling the purchase decreases and conversion rates subsequently increases. This also gives the fastest and most convenient checkout available on the market, that will potentially be available in all of the web-shops supported by payment providers in the Nordics in the Nets Group's such as DIBS, Netaxept and Paytrail in Finland.

"We are setting a new standard for shopping online with cards, massively benefitting web-shops. This first service of several to come exemplifies how we are providing a unified and unique online shopping experience for millions of consumers in the Nordics", says Asger Hattel, Group Executive Vice President at Nets.

More than 1 million cards stored
Right now 100,000 Nordic consumers save their card per week in average, leading to more than 500,000 cards added in March alone and now totalling around 1,2 million saved cards. Currently more than 26,000 web-shops have implemented the service across the Group's platforms in the Nordics and additional web-shops are gradually on-boarded free of charge every day. Nets ensure that the payment card data is securely stored and that the web-shops adhere to the highest possible encryption and security standards.

Consumers demand high convenience when they shop online and this service from the Nets Group helps web-shops to provide this. Almost half of the Nordic consumers shopping on a mobile device wants to avoid entering their card data and more than a fifth state that they would shop more online if the technology was implemented, according to DIBS consumer survey Nordic E-commerce. The overall growth for e-commerce in the Nordics continues to be strong with about 15 percent growth per year on average, and Nets wants to help drive that development further with new initiatives and services.

"We are working closely across Nets to build the next generation payment solutions, changing the game for the Nordic e-commerce. In late summer we will launch yet another end-to-end solution that will make it extremely easy to both receive payments and to pay when shopping online", says Daniel Larsson, CEO at DIBS.

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