E-Commerce Platforms
E-Commerce Platforms experience high cart abandonment rates when faced with price uncertainty from unclear foreign currency conversion rates. Having to check indicative exchange rates from an external source at the most critical point of the sales process makes it extremely unlikely that shoppers return and complete the purchase. Aladdin, M-DAQ’s award winning proprietary engine eliminates the uncertainty by providing you with a guaranteed Home Currency Pricing (HCP) solution, giving your shoppers a peace of mind and improving your cart conversion rates. All this is achieved at an industry beating price.
Buy with Certainty™
Aladdin
Any business that involves cross-border trades will inevitably be subjected to the market forces of foreign exchange.
Be it Home Currency Pricing or FX Risk Management, Aladdin’s guaranteed price solution is the trusted product that addresses the cross-border needs of businesses. Businesses have witnessed the transformation of their cross-border world with the integration of Aladdin. Experience it yourself!
What Makes Aladdin Impactful to e-Commerce
Aladdin makes it easier and risk-free for merchants to offer local prices to their online global customers, without the consumer needing to leave their eCommerce platform to check for external FX rates, and therefore increasing sales conversion rate.
Local Preference
Clear majority of online shoppers prefer to make purchases from local websites.
Lost Sales
Product search can occur on an international website, but purchases are made locally priced website.
Conversion Rates
Online shoppers leave the international website to calculate exchange rates before deciding to purchase.
Web Traffic
Customers are less likely to revisit single-currency pricing websites.
Increased Revenue
Customers are more likely to spend more money on a MCP website.
Customer Experience
Most online shoppers are concerned about how much they are paying for FX when shopping in foreign currency.
How it Works
Suppose a client has cross-border currency trades of USD/SGD.
Price Certainty without Foreign Currency Risk
Example 1: Online Customer | Online Retailer
Price Certainty without Foreign Currency Risk
Example 2: Online Retailer | Wholesaler
Price Certainty without Foreign Currency Risk
Example 3: Online Retailer | Online Wholesaler
Price Certainty without Foreign Currency Risk
Example 4: Online Wholesaler | Supplier
Price Certainty without Foreign Currency Risk
Total Loss: USD 17.88
Providing a positive experience at every stage of the customer journey is crucial to retaining customers and ensuring a growing business. Aladdin offers a superior experience by empowering merchant / e-Commerce platforms to price goods in multiple currencies without exposing any parties to foreign exchange risk. Cross-border customers can now view and purchase goods and services in their home currency, while merchants / e-Commerce platforms offer price certainty with Aladdin’s guaranteed FX rate solution.
Additionally, Aladdin allows configuration of a spread, creating a new revenue stream for merchants / e-Commerce platforms that would otherwise be captured by other parties in the payment processing chain.
Recognition: Aladdin Accolades
2018
Winner: Most Impactful
SG:D Techblazer Awards
2018
Sole Merit
APICTA Awards
2016
Winner
MAS FinTech Awards
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