Paidy Success Story – 20% monthly sales increase
To provide real-time communications, Paidy leveraged on 8x8’s (then Wavecell) SMS API and messaging services to add a layer of verification and to engage their customers. Message deliverability was vital to Paidy’s decision to take on 8x8’s service offerings.
Paidy, based in Tokyo, Japan, is the latest financial tech firm which allows ecommerce shoppers to buy now and pay later without a credit card. They issue a cardless credit account at the time of purchase in real-time, without any signup required. Transactions are completed within seconds and are 100% guaranteed to the merchant.
Paidy’s SMS Requirements – A Key Business Tool
Prior to Paidy’s launch, the team needed to ensure that One-Time-Password requests reach their customers within seconds. Deliverability rate is essential for the initial user verification. Furthermore, the provider had to have the ability to handle huge increase in SMS volume during Paidy’s monthly billing cycle.
While Paidy was evaluating their options to select a messaging vendor, speed and reliability were the two most important factors for the team and their business.
“The integration process with 8x8 was straight forward and we were able to move forth with the application testing very quickly”, Lee Smith, Co-Founder. The platform was also scalable depending on the volume of SMS sent per month. Over a short period of time, Paidy grew significantly and reached a monthly average of hundred of thousands of transactions powered by 8x8.
The implementation was further developed to offer messaging notifications on top of the OTP requests.
“8x8 proved that they can consistently deliver our time-sensitive messages within seconds regardless of daily volume. The support team’s responsiveness and technical knowledge was also a key factor in choosing 8x8 over other SMS providers.”Lee Smith, Co-Founder
The Solution in Action
Paidy successfully automated OTP requests from their server to customers on a real-time basis. With automated real-time communications in place, Paidy is now able to focus its resources on its core business planning and smoothen out its operational workflow.
Immediately, Paidy achieved instant and seamless user verification which drove the platform’s credibility and increased investors’ confidence in the company. With an added monthly notification to customers, payment rate increased significantly by 45%.