Challenge
After 14 years of running its own ecommerce site, Brisbane-based Videopro needed to optimize its site for B2B and B2C sales. The company also wanted to integrate new tech platforms including Klaviyo for marketing automation and customer data, Algolia for search, and Akeneo for optimizing product information and Yotpo for customer reviews and feedback. To do this, in 2022, Videopro, with the help of agency partner Matter Design, rebuilt its website on BigCommerce, an ecommerce platform that helps future-focused retailers grow their online business on their terms.
The new site provided almost everything Videopro needed. But after a few months, the company realized that the new payment partner it had selected wasn’t ideal for its needs. The payment partner required large cash reserves to cover potential refunds and chargebacks—a real challenge for Videopro’s cash flow. Videopro also wanted a provider that would communicate actively with its team and work toward their mutual success. “Our previous provider was very inflexible, and it was very frustrating,” said Cameron Douglas, Videopro’s CEO. “The good news is that it led us to seek out better alternatives.”
Videopro serves consumers and businesses through the same storefront, so any new partner also needed to offer a streamlined checkout experience that would work for both segments. Many of the company’s business users pay with corporate cards, so they expect a consumer-grade checkout that also meets business requirements.
In addition, the consumer electronics industry has high potential for fraud, since it consists of relatively small, high-value products that can be easily resold. Videopro needed a payment partner with robust fraud prevention tools that could block fraudsters while allowing legitimate users to complete their transactions quickly and easily.
Solution
The team at BigCommerce introduced Videopro to Stripe. Led by an account team that understood Videopro’s business objectives and website infrastructure, Stripe worked quickly to help improve the company’s ecommerce experience and cash flow position, with reserve requirements that were tailored specifically to Videopro’s business.
Videopro used BigCommerce’s plugin to integrate Stripe Payments into its checkout page. With Payments, the company gained access to built-in optimizations to increase conversions and improve authorization rates, including rules around government and education email domains, plus a simple, accessible checkout experience.
With the switch to Stripe, Videopro also gained access to advanced fraud prevention offered by Stripe Radar. Radar uses machine learning trained on transaction data across millions of global companies to detect and block fraud. Videopro particularly relies on Radar’s automated security flags, which indicate the likelihood that a payment is fraudulent and automatically block the transactions that are most likely to be fraudulent. Radar also provides information about signs of potential fraud, including whether the name on the order is the same as the name on the card, whether the card has been flagged previously, and the percentage of transactions that the cardholder has disputed. Videopro uses these indicators to contact the customer for further information when warranted, and to validate the authenticity of the transaction.
Videopro is now planning to implement Stripe Billing to manage recurring billing for products that are consumed as a service, including service level agreements and managed services.
Results
Improved cash flow provides more flexibility
Stripe’s business-friendly cash flow policies have increased Videopro’s working capital, giving the company more flexibility to manage its operations. “As far as cash flow improvement and financial management, Stripe was just miles ahead of what our previous provider thought was the right thing to do,” said Douglas.
Few, if any, payment-related customer support questions mean Videopro staff can prioritize other initiatives
The responsiveness of Stripe’s account team has freed up time for Videopro to focus on its core business. “Their support and the fact that the platform just works, has allowed us to fight the fires on some different and arguably more important fronts, as opposed to having to deal with an issue with the payment platform,” said Douglas. “An important part of the Stripe story is that they are people you can have real conversations with, and that is not necessarily the case across the ecommerce industry.”
Payment optimizations drive cross-channel success
Stripe payment optimization tools have made a difference with both consumers and Videopro’s business users. “Stripe has been really helpful with our SME B2B market,” said Douglas. “They want to have a consumer experience, but they also want professional support and that's what you need to bring together to make that market work.”
There’s so much technology used in an online store that if something works well, it provides a disproportionate amount of value. Stripe’s technology is very solid, so rather than focusing on our payment platform, we can focus on the customer experience, which is key to our business.
About BigCommerce
BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands and retailers of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated enterprise-grade functionality, customization and performance with simplicity and ease-of-use.
Videopro’s success story is a testament to how the right ecommerce technology stack can drive real business impact. By leveraging BigCommerce’s flexible, open platform and integrating best-in-class solutions like Stripe, Videopro has created a seamless, high-performing online shopping experience for both B2B and B2C customers. We’re proud to support Videopro’s growth and innovation, helping them optimise checkout, improve cash flow, and deliver exceptional customer experiences.
