Euro Car Parts Successfully Embarks on European Expansion With Ingenico ePayments
For Euro Car Parts, to continue the successful growth of our company, we needed to look beyond our own borders and expand into new markets. In Ingenico ePayments, we found a partner that not only knows the payments landscape in our target markets through and through, but that could help us offer the right mix of local payment methods to drive sales and fraud solutions to reduce our fraud rates.
Euro Car Parts is the UK’s leading distributor of parts for all makes of cars and light commercial vehicles. Established in 1978 by a young and enthusiastic 18 year old with help from his family and a small loan from Barclays Bank, today, Euro Car Parts has grown to over 9000 employees.
The company’s turnover is three times that of its nearest competitor, and to continue growing the business, the company needed to look beyond its home market and expand into new geographies.
At the same time, the company was experiencing increasing levels of fraud and chargebacks, particularly through its online channels.
Since crossborder payments have significantly higher fraud rate than domestic payments do, expanding into new markets would only increase this risk. To help meet its ambitious growth plans while at the same time reducing its exposure to fraud both at home and through its international online channels, the company decided it needed to engage with a new payments service provider.
After assessing different potential international growth markets, Euro Car Parts identified France and Germany as the first two markets to extend its operations in. Online was clearly the means to capture the overseas market. Euro Car Parts embarked on the expansion plan by first seeking to understand the local markets. Localisation of the website was carried out using actual translators. Address lookups were localised and so was delivery options to suit the French and German markets. They partnered with Trusted Shops to get a verification to build local customer trust Global Marketplace.
Next came the choice of payment gateways. After assessing nearly 60 payment providers, Euro Car Parts narrowed down to Ingenico ePayments.
Whilst International payment option was one of the top selection criteria, other equally important factors as Fraud services and PCI compliance were also taken into consideration for the selection. With over two decades of experience in online payments processing and services, Ingenico ePayments could share valuable insights on the payment landscape in each of Euro Car Parts’ key markets and provide the right mix of payment options and fraud protection.
Today Euro Car Parts’ French expansion plans have gone truly well. They see over a 1000 transactions on the international sites and that is a number that is significantly set to grow. Ingenico ePayments Fraud expert has given them the visibility of fraudulent activities which helps them keep fraud under control.
Furthermore, Ingenico’s support team reviews the online fraud data with Euro Car Parts on a regular basis over the phone and onsite, making sure their teams are trained and on top of their orders. This ongoing process is designed to further drive down fraud over time.
After the successful expansion into the French market, the company is now hard at work preparing for the launch of operations in the German market. Testing is already underway, and live sales will begin soon.
The partnership with Ingenico ePayments has allowed Euro Car Parts to expand into new strategic markets by offering a localized payment experience that their customers recognize and trust. The success of the launch has also allowed the company to already start planning for the next phase of its expansion, with Ireland identified as the third international market to pursue.
“Ingenico ePayments has proven to be a very reliable and valuable partner to us. Their consultative approach and large portfolio of international payment products, as well as their expertise in reducing fraud, means we have all the support we need to successfully execute our international expansion strategy.”
Euro Car Parts is the UK’s leading distributor of parts for all makes of cars and light commercial vehicles. Euro Car Parts
is the trade’s favourite, making 60,000 deliveries to UK garages every working day. It stocks 130,000 different parts
covering all makes and models, plus tools and accessories such as sat navs, stereos and dash cams.
More information on www.eurocarparts.com