Bridging the gap between merchants and customers. Safein introduction to online retailers and service providers.
Millions in online sales are lost on a daily basis due to inefficient and repetitive registration forms and checkout procedures that scare away potential customers. We believe simplification of these two crucial parts of the online shopping experience is long overdue in e-commerce, and we’re building Safein to do exactly that.
The e-commerce giant
Modern day online commerce has drastically improved since its early days. The growth of Ebay, Amazon, and Aliexpress, more recently, has made shopping online as convenient, if not more, than in physical stores. In the meantime, the emergence of content management systems and pre-built tools made selling online accessible to virtually anyone. Platforms such as Wordpress, Shopify and Magento have spurred a massive wave of online shops small and large, that cater for all kinds of customer tastes.
Through technological advancements, tests and iterations, sellers have increased their awareness of what customers like and want, learned how to create value for their clients, how to reach them more effectively, and how to present products to them in more appealing ways. As such, e-commerce is continuously evolving, becoming more fluid and smooth relative to retail shopping, overtaking it as the preferred option by customers in an increasing number of sectors.
Yet, among all the good things that have happened to the core experience of shopping online, some huge flaws prevail in seemingly less important areas. To illustrate the point that will follow, let us first raise a question to you: how many times have you forgotten your password and had to reset it, or had your card declined online?
Customer authentication, KYC, data collection and storage, payment processing and chargebacks are some of the problematic areas of online commerce that usually go by unnoticed. Typically, when things go wrong, the customer can only express frustration and give up or leave a negative review — which nobody really wants. Meanwhile, the costs, losses, and unrealized profits associated with these shortcomings are assumed by the merchant, with no actual remedies to deal with them.
The fragmentation of online shopping experience
For the customer, two essential parts of purchasing online — signup and payment — have remained virtually the same since the dawn of e-commerce. For the merchant, these — also known as ‘acquisition’ and ‘conversion’ stages — might well be the most important performance indicators and expensive accomplishments to execute — and both simultaneously equate to success in online retail.
Though efficient signup and payment stages are crucial in converting a window shopper to an actual — and loyal — buyer, not much has been done to reduce this fragmentation of steps involved in e-commerce. In fact, little can actually be done, since many stores need to know who you are, where you want your goods delivered, and how you wish to pay. In response, customers have grown increasingly frustrated by having to share their personal details over and over again, especially with concerns related to their personal privacy and security of their provided data piling up.
With Safein, however, we are building a solution to all the inefficiencies of status quo e-commerce, and are striving to finally make the customer’s shopping journey whole.
A solution for customers and merchants alike
We call Safein a single sign-on digital wallet, but it serves merchants as much as it does customers. The main purpose of our product is to bring the two sides closer together by 1) improving the initial interaction of the two parties, i.e. new customer acquisition, and 2) following through to the very final steps of the shopping experience, the checkout and payment stages. With features ranging from secure personal data storage, identity verification, and pass-through of required information to the merchant, to integrated payment solutions, Safein is bound to add value to both sides of e-commerce, retaining the control of personal data in the hands of the customers, and making the process of onboarding and converting customers frictionless for merchants.
Benefits that make Safein a unique solution for merchants
Get paying customers effortlessly
When signing up on your website, Safein customers shall not need to provide any data; as we will deliver it to you instead, so that the customer could get straight to shopping. Name, phone number, email address, shipping address — you name it — all come to you in an instant. If the customer updates any information on our platform, we’ll have you covered — the new data will be updated for you immediately.
When the customer gets to your checkout stage, we’ll handle the payment process too, whether in fiat or in cryptocurrency. Besides improved conversion rates, the benefits provided by Safein are two-fold: far lower payment processing costs and chargeback-free payments.
Zero risk in handling and storing personal customer data
With customers growing uneasy about their data privacy and security, and the new EU General Data Protection Regulation coming into force this May, you needn’t worry about customer due diligence, KYC checks, and storing sensitive information details securely. Safein shall perform customer ID and address verification and store all data, only passing on to you what you must know about the customer to comply with the law, and protecting you from data breach risks. Not only that, our team will also provide resources and recommendations about data collection practices, and inform you if requesting a certain piece of information from the customer is not advisable.
Minimized costs and expenditures
Answering account-related support inquiries, handling and storing customer data, performing increasingly complex KYC procedures, all are resource-demanding and bear hefty costs not only in direct financial spending, but also staff- and time-wise. In the meantime, getting customers to visit your website and convincing them to purchase your products is also an ongoing learning experience that carries its costs. Both in terms of operational costs and marketing expenditures, Safein is designed to provide a healthy boost in efficiency of your money spent, while also solving a large chunk of your problems related to new customer onboarding, conversions and payment processing.
Extra value with SFN tokens — thanks to the blockchain revolution
The new, tokenized economy permits us to employ a range of incentive schemes for both merchants and customers — which is at the core of our growth strategy. Each and every user shall receive generous rewards for signing up to our partner websites with Safein as well as cashback rewards for every SFN token spent. Meanwhile, if you are an owner of SFN tokens yourself, our services to you in most cases will be completely free of charge. In addition, being part of the crypto-movement in the competitive landscape of today’s e-commerce has benefits of its own, and brings your company to the spotlight.
In case you ask: “When can I start using Safein on my website?”
The development of the Safein platform and app is well underway, and we already have a fully functional MVP, which shall be available for our users to try out shortly. As per our whitepaper, by the time we launch our ICO in a couple of months, a complete identity verification solution is planned to already be integrated in Safein. After the crowdsale, the funds collected will be used to develop our planned features, including a crypto-wallet and payment solution, start acquiring users and partners through our registration pool, and obtain an electronic money institution license in the EU that will permit us to operate with both crypto- and fiat currencies. All of this we plan to have within a year, and shortly after that we will be adding fiat payments into Safein.
If you are looking to become part of our growing community of early adopters and integrate Safein into your website, drop us a line at info@safein.com.
