Company: 2Checkout (now Verifone), Atlanta, GA USA
Company Description: 2Checkout, part of Verifone's eCommerce division, is the leading all-in-one monetization platform helping clients drive sales growth across online channels. 2Checkout's digital services include global payments, subscription billing, merchandising, taxes, compliance, and risk.
Nomination Category: Product & Service Categories - Business Technology Solutions
Nomination Sub Category: Subscription Billing Solution
 Nomination Title: 2Checkout (now Verifone) | Subscription Billing Made Simple
- Which will you submit for this nomination, a video of up to five (5) minutes in length or a written essay of up to 525 words? Choose one:
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video:
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
The 2Checkout (now Verifone) all-in-one monetization platform puts your end-customer at the center of each interaction and enables advanced subscription management with full transactional capabilities at every customer touch point. In a nutshell, our powerful subscription management and recurring billing solution allows you to offer customers the frictionless, no-hassle experience they demand. The platform was launched in 2006 and has been improved and updated yearly ever since.
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
From the first order or trial, through to onboarding, upgrading, and renewal, 2Checkout's subscription billing solution will help businesses manage subscriptions and customers, deal with invoices and recurring billing, and improve revenue.
Our solution offers an intuitive and user-friendly interface that allows even the most non-technical users to easily and quickly implement their specific needs for managing all aspects of subscription pricing, billing cycle and contract duration, grace period, renewal setup, dunning management, anti-churn prevention, upgrades, and many more.
2Checkout provides recurring-revenue based businesses with a comprehensive suite of Revenue Recovery Tools for fighting involuntary churn, as well as the expertise and guidance to tailor and fine-tune strategies to achieve industry-high revenue loss prevention and revenue recapture rates.
Preventing voluntary churn requires the right combination of product engagement, customer experience, and perceived value. Our platform provides some fantastic ways to incentivize clients through active churn prevention tools, auto-subscription enrollment, subscription pause, expiration reminders, and more!
To closely track their subscription business and forecast revenue, merchants have access to subscription reporting and analytics which include cohort analysis and MRR, renewals-expirations, renewal forecast, trial conversion rates reports, and more.
Merchants can also connect the subscriptions storefront to their own website or app with powerful APIs. Utilizing our APIs, they can manage subscription details, access payment data, resend invoices, handle product info by SKU, track orders by source, manage multiple refunds, extract complex ordering data, and monitor subscriptions billing and contract cycles.
We use a combination of artificial intelligence and manual review processes to make sure our fraud-detection mechanisms are optimized. We are constantly adjusting our platform to ensure compliance with the latest laws and regulations across the world. Standards and regulations we comply with include PCI DSS (2Checkout is PCI Level 1 certified), PSD2 and 3D Secure, GDPR, CCPA, ISAE 3402, SSAE 18, BBB Accreditation, and more.
Finally, merchants can start with a core platform module and mix and match flexible add-ons to create the optimum product for their needs. As they scale up, they can easily move to enhanced product packages that will ensure continued growth for their business.
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
2Checkout's leadership and continuous innovation of its payment capabilities have been recognized through several industry awards and recognitions:
SIIA CODiE Awards 2022 - Winner in Best Subscription Billing Solution and Finalist in Best Payments Solution
American Business Awards (Stevie Awards) 2022 – Bronze Stevie® Winner in Electronic Commerce Solution and Payments Solution
G2 Winter 2022 Reports - Leader in the Grid® Report for Subscription Billing, the Grid® Report for Subscription Management
Customer testimonials:
"Solid platform to sell software worldwide. The order, subscription, and refund management work very well. The client manager is always reachable and has ideas for improving processes. Out of the box, many features like cart recovery, retry logic and automated trigger mails are included. " - Felix Hüning Director of eCommerce at Nero
"Took the pain of collecting revenue & invoicing clients away. They take care of the entire process of selling to clients: order form, credit card processing, fraud detection, collecting recurring revenue, invoicing, and many more." - Florin Cornianu, CRO 123Formbuilder
"We used to spend a lot of time and effort on VAT regulations and other compliance issues. Since our customers are now in effect buying the products from 2Checkout, our accounting is a lot easier. More importantly, with 2Checkout's retention tools, our subscriber churn is down by about 50%, and still plummeting!", Per Salbark, Creative Director of Kilohearts.
"We appreciate the ability for our end-customers to cancel a subscription within our interface through single sign-on, which enhances customer experience. It's also simple to create effective cross-selling campaigns or track all the steps of the purchase process. These and many other benefits of the 2Checkout Avangate platform help us advance our business", Dejan Kosutic, CEO of Advisera.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
https://www.2checkout.com/docs/en/datasheets/2Checkout_Revenue_Recovery_Tools_Datasheet_2019_web.pdf
https://www.2checkout.com/docs/en/whitepapers/2Checkout-SB-Subscriber-Retention-Tools.pdf
https://www.2checkout.com/docs/en/datasheets/2Checkout-Subscription-Billing-V2.pdf
https://www.2checkout.com/press/press-single/siia-codies-winner-two-categories-2022.html
https://www.2checkout.com/clients/kilohearts-success-story.html
https://www.2checkout.com/lp/recurring-billing-and-subscription-management/
| Attachments/Videos/Links: |
|---|
|
