Worldline and Joom partner to bring social e-commerce to Russia
By Joy Dumasia
Worldline announced it has partnered with the ‘social e-commerce’ 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 e-commerce market.
Joom wanted its Russian shoppers to have the widest choice of payment options possible to be comfortable with the platform and return for new experiences. This means allowing customers to choose payment to mean that suits them best, therefore improving checkout conversation rates and customer engagement and loyalty. Additionally, with its dynamic financial ecosystem and specific customer preferences, the Russian market 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 country’s unique digital commerce opportunities 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, said: “Joom has a fascinating and unique business model ‘social e-commerce 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.”
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