Summary
Visa saw and leveraged this opportunity and built one of a kind made in India, made for India product called Visa Safe Click which solves for payment challenges unique to Indian e-commerce by providing single click payment experience for mobile e-commerce transactions.
Challenge
For online transactions in India a mandatory multi factor authentication is followed. The standard process across all e-commerce is entering a password which is usually followed by a mobile OTP (One time password), the entering of which validates the transaction. Businesses faced multiple challenges with this 2 step authentication: 1. Delay in receiving the OTP SMS resulted in transaction failure and payment drop-offs 2. Incorrect OTP entry by customers due to typing errors 3. Slow internet resulting in access problems and mobile bank websites with a poor user experience further amplified the issues
Objective
To increase Visa Safe click product usage via Direct response marketing. Driving 100,000 enrollments for the Visa Safe click product.
Strategy
Rather than only integrating with the platform, we dived into the combined data and advertised to a Visa user cohort along with building a unique experience for them on the Paytm app!
Data
On one of our big tie-ups (Paytm), research uncovered that a large cohort of 25 Mn Visa cards were actively using the platform but not using the Visa Safe Click product.
Solution
In a first of it's kind initiative, Paytm created a comprehensive Brand store for Visa safe click detailing the newly launched product and encouraging users to activate it and use it for a variety of transactions on Paytm. We integrated the same with all features a user might expect including routine gas and water bill payments as well as cohort-based features.
Results
234,612 Mobile Exclusive Product enrollments delivered in 40 days; 134% more than planned enrollments. Reach - 7.25 Mn+ Brand Store - 275,606 Impressions - 43 Mn+ CTR - 0.76% Clicks - 320,057 (50% more than planned) Overall Product Enrollments - 234,612 v/s 100,000 planned Total Paid Media Attributed Sign-Up for VSC - 131,289 (56% of the total enrollments)
