Optimizing OnBuy’s Revenue: A 35% revenue acceleration strategy

About OnBuy

OnBuy is one of the fastest growing marketplaces in the world. It operates a fair and transparent eCommerce business selling over 42 million products from over 5 thousand retailers to over 7 million customers. OnBuy prides itself on putting its buyers and sellers first, facilitating choice, fair competition, and superior user experiences. OnBuy was looking for a payment partner that matched its ethos of superior service and offered advanced payments technology.

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The challenge

Operating a marketplace model is incredibly complex. When OnBuy launched, its entire payment infrastructure, including pay-ins and payouts, was controlled by one provider. Payment options for buyers and sellers were limited, costs were high, and OnBuy had almost no control. OnBuy chose to work with Nuvei to accelerate its revenue through payments optimization, looking for a true payment partner that offered a payments solution for marketplaces.

Nuvei was able to meet our lengthy technical requirements that come from being a global platform. Doing payments well is much more complex than it gets credit for – using a one-size-fits-all solution leaves significant opportunity on the table. Having an internal team that supports us has been a true differentiator that many firms promise but don’t often follow through on. Nuvei has been true to their word and we are seeing the results.

Cas Paton - Founder & CEO of OnBuy

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The solution

To grow globally, OnBuy needed more choice and control over payment acceptance. The marketplace looked for a genuine payments partner that could deliver the technology and expertise to grow the OnBuy brand in new markets. 
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The results

By offering more choice to customers and utilizing advanced tools to optimize its payments flow, OnBuy increased its conversion rates by 13%, which delivered a 35% boost to revenue and sales. 

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