MYCS, a German furniture brand specializing in customization successfully responded to the growing demand for flexible payment options by launching a single Buy Now, Pay Later (BNPL) solution for all EU payment methods. In collaboration with Alma, MYCS introduced instalment payment services in September 2021, initially in France and Germany. This move aimed to address customer hesitations regarding upfront payment for high-priced customized furniture with long lead times.
MYCS chose Alma over other solutions due to its digital-native approach, user-friendly UX, and alignment with the brand's values, as it did not charge late fees like traditional banking models. The integration with Alma proved seamless and easy, leading to increased conversions from the product page to checkout. MYCS witnessed substantial success, with a 3% increase in overall payment page conversion rates, which is significant given their high average order value.
Alma's support extended beyond France, supporting MYCS's expansion in the DACH region with dedicated support and a custom integration for all EU payment methods. Alma's proactive approach allowed for the swift implementation of SEPA (Single Euro Payments Area), catering to local payment habits. Through regular check-in meetings and fraud prevention, Alma maintained a high acceptance rate, bolstering MYCS's confidence in the partnership.
The collaboration between MYCS and Alma was characterized by trust, professionalism, and successful outcomes. Alma exceeded customer expectations, with users appreciating the ease of multiple payments and quick registration. The MYCS accounting department also found the reconciliation process straightforward and efficient.
In summary, MYCS's collaboration with Alma has proven to be fruitful, boosting conversions, revenue growth, and customer satisfaction while simplifying payment processes across the EU. The positive impact on MYCS's business and its seamless partnership with Alma highlight the success of the single BNPL solution for all EU payment methods.
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