Impact
- Higher transaction success rates
- Reduced cart abandonment
- Higher engagement and sales
- Improved operational efficiency
Products Used
- Express Checkout
- Tokenization
- Unified Reconciliation
Tata CLiQ, one of India’s leading premium multi-category e-commerce platforms, offers a wide range of products from fashion, electronics, home goods, and more. As the platform continued to grow, Tata CLiQ faced the challenge of providing a seamless payment experience that could handle high-volume transactions across various categories like smartphones, wearables, and home appliances. Partnering with Juspay to implement solutions like Express Checkout, Tokenization, and Unified Reconciliation, Tata CLiQ streamlined its payment operations and improved customer engagement, ensuring a smoother checkout experience and better customer retention.
Streamlining Payments with Express Checkout
Managing multiple Payment Service Providers (PSPs) and payment methods was becoming increasingly complex for Tata CLiQ. Juspay’s Express Checkout solved this by:
- Dynamic Payment Routing: Payments were routed dynamically to the best-performing PSP based on real-time success rates, transaction costs, and network availability, increasing payment success rates and reducing transaction failures.
- Centralized Payment Management: Multiple PSPs and APMs were integrated into a single platform, reducing operational complexity and improving payment processing efficiency.
- Real-Time Monitoring: The system’s real-time monitoring ensured seamless payments even during peak sales, such as festive promotions and flash sales.
Enhanced Security and Faster Checkout with Tokenization
For repeat customers, tokenization provided a seamless and secure payment experience. Juspay’s Tokenization solution ensured:
- Secure Card Details: Sensitive card details were tokenized, reducing the risk of fraud and ensuring compliance with global payment standards.
- Frictionless Repeat Purchases: Tokenized payment details allowed customers to complete one-click payments for faster checkouts and improved user experience.
- Enhanced Security: Tokenization ensured that actual card data never touched Tata CLiQ’s servers, offering greater security for both the platform and its customers.
Simplified Reconciliation with Unified Reconciliation
As Tata CLiQ expanded, tracking and reconciling payments from multiple sources became more challenging. Juspay’s Unified Reconciliation provided:
- Multi-Source Reconciliation: Automated reconciliation across multiple PSPs, bank reports, and Tata CLiQ’s internal systems simplified payment matching and reduced manual effort.
- Real-Time Reporting: The system provided real-time reporting of transaction status, ensuring immediate corrective actions when discrepancies arose.
- Comprehensive View of Payment Metrics: Tata CLiQ could track key metrics such as payment success rates, processing costs, and dispute resolutions, enabling more informed decision-making.
Results: Higher Conversions, Improved Customer Experience
- Increased Payment Success Rates: With Payment Orchestration and Express Checkout, Tata CLiQ saw higher transaction success rates, even during peak times like flash sales and holiday promotions.
- Reduced Cart Abandonment: Tokenization and auto-OTP features reduced friction during checkout, resulting in lower cart abandonment rates and higher user satisfaction.
- Higher Engagement and Sales: The streamlined payment process and personalized promotions led to higher engagement and impulse purchases, increasing overall sales.
- Improved Operational Efficiency: The Unified Reconciliation system provided real-time insights into payment data, allowing Tata CLiQ to streamline operations, reduce manual work, and optimize payment performance.
Next Steps: Scaling for the Future
Looking ahead, Tata CLiQ plans to extend its digital payment infrastructure to include more local payment methods and optimize the user experience for customers in new regions. Juspay’s Express Checkout will continue to ensure seamless routing of payments, while Tokenization will simplify the checkout process and enhance payment security for repeat customers. With Unified Reconciliation and real-time insights from the Unified Dashboard, Tata CLiQ is well-equipped to scale efficiently as they expand globally.
At Juspay, we’re excited to continue partnering with Tata CLiQ to provide innovative, scalable payment solutions that ensure a smooth, secure, and frictionless digital shopping experience for their growing customer base.
