🚀 Partnership Announcement
Vinted, Europe's leading online marketplace for second-hand fashion, has joined forces with global digital payments provider Checkout.com. This collaboration aims to optimize Vinted's payment processes, enhancing user experience across its platform.
📈 Boosting Acceptance Rates
In 2024, Vinted reported a 4.15% increase in payment acceptance rates after implementing Checkout.com's Intelligent Acceptance offering. This AI-driven solution tailors optimizations to Vinted's specific traffic patterns, reducing failed transactions and increasing user engagement.
🌍 Supporting Sustainable Fashion
The partnership also focuses on compliance with regional regulations and support for local currencies, aligning with Vinted's mission to make second-hand fashion a first choice. By improving transaction performance, Vinted can better serve its growing user base across more than 20 countries.
📊 Market Growth
The second-hand apparel market in Europe is projected to grow from $17.3 billion in 2024 to $32.6 billion by 2032, reflecting a compound annual growth rate of 8.2%. This growth is driven by increasing consumer demand for sustainable fashion and the rising popularity of circular economy practices.
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