Room for Improvement in the European E-Commerce Experience

At MPE 2024 in Berlin, we spoke to Stephan Hackenberg from Giesecke+Devrient & Suzana Kordumova from Netcetera, to find out more about the e-commerce landscape and how the partnership between global SecurityTech organisation G+D and its digital powerhouse division, Netcetera helps them to flourish.

We hear about how e-commerce is evolving in Europe, some of the challenges merchants face and our experienced guests share some case studies of how they have worked with PSPs to better serve the end consumer. We also find out what innovation looks like to Netcetera and G+D and we get their thoughts on the MPE conference itself.

The partnership with software division Netcetera has enabled G+D to offer a greater scope of services, becoming essentially a one stop shop for financial solutions. In fact they jointly won an award last year for the success of one such product, the eCOM Tokenizer, in the Fraud and Security Innovation category of the Juniper Future Digital Award.

With Suzana and Stephan’s perspectives, we get a joint view of what it is that makes this partnership potent and why they play such a key role in the European ecosystem.

E-commerce is a rapidly evolving space, and both experts stress the paramount importance of addressing challenges here, particularly in ensuring a smooth and secure experience for consumers. Stephan suggests merchants are under threat from cyber security and fraudsters, whilst they also face pressure on another front, in the form of cart abandonment.

There are many reasons why this could be happening but there is no question it’s an issue, with the average shopping cart abandonment rate in 2024 now at 70.19%. Of course, solutions such as their own Click to Pay and other innovations could hold the key to solving a lot of these issues.

In the interview above, they also share success stories from collaborations with partners like Global Payments, who process billions of transactions annually, showcasing notable improvements in conversion rates attributed to their solutions.

Hackenberg & Kordumova delve into their company’s commitment to innovation, including their AI centre of excellence and incubation value stream, which prototypes new solutions. They stress the collaborative nature of innovation, emphasising partnerships and pilot projects to stay ahead in the rapidly evolving industry.

As for their thoughts on MPE, we get clear enthusiasm from both. Speaking in the lobby of the InterContinental Hotel in Berlin, they mention its conducive environment for learning and networking. Suzana particularly emphasises the event’s focus on diversity within the payments sector, highlighting its significance alongside technological advancements.

It’s a must watch interview on the state of e-commerce in the region.