Fastrr is the go-to one-click checkout software & solution for the eCommerce industry. Fastrr increases conversions by filling the browsing and purchasing gap.
Transcript: #StandardsGoals for 2024: What’s new for BISAC - Tech Forum 2024
Highly Effective Ways to Successfully Tackle Checkout Abandonments
1.
2. Our Journey
2020
Series A Round Funding
Raised a Series A funding of $4
Million by Omidyar Network
India & Guild Capital.
Shipments - 55k+ a day
2021
Series B Round
Funding
Series B funding of $12
Million by IIFL (India
Infoline Group), Ananta
Capital, Omidyar Network
India & Guild Capital.
Shipments - 1L+ a day
2015
Inception of Pickrr
Technologies
Incubated in June 2015, Signed
up with Archies. Partnered with
Palash Ventures as angels.
2018
Powered by Artificial Intelligence
Curated our first in-house AI powered
supply optimization engine named
‘CALCULA’
Shipments - 30k+ a day
3. Building a better checkout experience in 2022
Jan’22
Launch of Next Generation
Checkout Solution
A Multi-layered AI powered advanced
checkout solution.
4. Shopper demand and expectation is
changing at lightning speed !
Fastrr is a Solution One Step
Ahead
5. Hassle-free & Fast Checkout with Fastrr…
Powered by 6
Yrs+ of Pickrr’s
shipping
intelligence data
Access to rich
data vault of
millions of
buyers
~90%+ EDD
accuracy powered
by Pickrr’s full stack
logistics
Pickrr Predict’s- RTO
Intelligence
reducing RTO
~50%+
Advantage
6. Fastrr Promise…
Enhanced Shopper Experience Increased Seller Profitability
Seamless & Simple
2-click Checkout to
payments
Checkout time
reduces by ~70%
Fraud detection
reduces costs by
~50%
~20% increase
in revenue
Boost customer
conversions by
~20%
Safe & multiple
payment modes
options
7. Problem 1
Nearly 70%
of shoppers abandon
their cart before
purchase
60% of those shoppers drop out as they
expect a frictionless & one-click fast
checkout experience like Amazon.
Unavailability of such experience leads
to cart abandonment and checkout
abandonment leading to lost sales for a
D2C ecommerce company at the last leg.
Source : Baymard Instit
8. Solution
Fastrr’s seamless checkout experience
powered by Pickrrr’s vast network of
buyers & sellers and strong logistics
intelligence increases customer
retention by ~40%
Fastrr is a smooth integrable tool that
eases up the experience of the shopper
and helps grow your business by
~65%
OTP based login
Address Intelligence
Dynamic Shipping Pricing
Delivery Promise
Abandoned Buyer
Targeting
Alternate Payment
Methods
Fastrr Checkout is the solution to
these problems.
Our mission is to improve
profitability of the D2C
ecosystem
9. OTP Based Solution
Almost every 5th shopper
drops off because of being
pushed to sign up on the
website. Additionally, bot
orders & fraud is a major
challenge for D2C brands
today.
We solve both of these
problems by a single
click OTP based vault
access.
10. Address Intelligence
Entering a complete address is
a cumbersome process & leads
to checkout abandonment.
Fastrr’s advanced engine
auto suggests shopper’s
address from Pickrr’s
database cutting manual
inputs. The engine also
verifies the address validity
reducing % of returns due to
wrong addresses.
11. Dynamic Shipping Pricing
Flat shipping options with no
delivery dates leads to drop of
customers
Fastrr’s dynamic multi-shipping
feature helps you charge right for
the service.
12. Delivery Promise
Shoppers care a lot about the
shipping. The accuracy of the
delivery dates has become
crucial for good satisfactory
experience.
With Fastrr, shoppers can
see accurate delivery
promise on the checkout
product.
* Applicable for sellers using Pickrr
Shipping Solutions
13. Alternate Payment Methods
Payment Security is a high impact
checkout abandonment reason.
Shoppers look for more APMs with
best trust scores.
Fastrr offers trusted integrated
payment solutions (Optional) to
you with dashboard access. Or
we integrate with your existing
payment gateway.
14. Abandoned Buyer Targeting
70% of your shoppers drop
out before or during checkout,
but they are highly potential
customers.
Fastrr accesses Pickrrr
Connect tool to help you
send links or offers via
SMS or Whatsapp
reminding shoppers to
complete purchase enabling
checkout conversion.
15. Problem 2
RTO levies a significant
cost burden on an
eCommerce business
No matter what the number of orders you
derive, getting your RTO’s in check is of
major importance. Every RTO contribute
a loss of INR 100-150 per order
An intelligent solution with fraud
prevention capabilities, pre & post order
placement, is needed to keep check on
RTOs. Source : ReBOUND Returns Consumer Survey
RTO Return rate by Industry
16. Solution
Using extensive database of courier
performance, pincode performance,
shopper profiling, Address intelligence &
40+ other parameters, Pickrr Predict- RTO
suite helps you cut down the returns.
Fastrr checkout integrated with the
multi-layered smart RTO tool Pickrr
Predict makes it an end-to-end
enabler for better shopper
experience and fraud prevention.
The package can help you reduce
your RTO by upto 20%
Pickrr Predict - RTO
Reduction Suite
High Risk Orders
Management
COD to Prepaid Customer
Conversion
Real Time Analytics
Automated Order
Confirmation
17. High Risk Orders Management
Digital frauds and returns are
a big cost burden to the
bottom line of any D2C
ecommerce business.
The Pickrr Predict- RTO
suite helps predict and flag
the orders which are likely
to go RTO and enables you
to take necessary action to
manage the high risk orders.
18. COD to Prepaid Customer Conversion
COD orders are at a high risk of
RTO which is a huge loss for a
D2C ecommerce business.
The Pickrr Predict- RTO suite
with flagging high risk orers
also helps converting COD
orders to Prepaid (a low RTO
proposition) disrupting your
COD/Prepaid mix. It provides
intelligent COD orders
verification.
19. Real Time Analytics
D2C Ecommerce businesses deal
with large volumes of orders daily
which makes it difficult to real
time track and build insights
The Pickrr powered seller
dashboard integrated with all
leading courier partners
enables a D2C business with
detailed insights into courier
wise RTOs, order status,
delivery and an NDR database
with true reason for
undelivered orders.
22. What more?
Post Purchase
Personalisation
Create unique personalised
shopping & post shopping
experience for your
shoppers with
recommendations, wishlist &
other dynamic upsells.
Customer Offers
& Rewards
Increase the frequency of
shoppers with the help of
discounting exclusively
provided by Fastrr.
Also, shopper rewards tool
will help them revisit the
stores & explore new stores
through the unified one
network platform.
Seller Dashboard
& Analytics
Gain a holistic view into your
shoppers’ purchases and
buying behavior with
advanced reporting
capabilities and data
visualizations.
Also, configure your
checkout features from the
same dashboard.
Coming soon... Coming soon...
23. Pricing Plan
Product Feature Alpha Beta Gaama
Subscription Fee
(Per Month)
2499 2499 2499
Address Vault Y Y Y
Payment
Processing
Y Y Y
EDD - Shipping N Y Y
Order
Success/Cart
abandonment
1 SMS 2 SMS + 2
Whatsapp
4 SMS + 2
Whatsapp
Pickrr Predict Y Y Y
Transaction Fee -
Prepaid + COD
1.500000% 1.750000% 2.000000%
RTO Guarantee NA Upto Rs 50 per
order or Shipping
Cost whichever is
lower, for RTO
orders marked
Low Risk
Upto Rs 75 per
order or Shipping
Cost whichever is
lower, for RTO
orders marked
Low Risk
EDD - Guarantee NA NA Rs 15 per order,
subject to timely
25. Onboarding process
KYC documents required for account creation
1. Registered Company Name
2. GSTIN and PAN
3. Company Registered Address and Communication Address
4. POC - Name, Email, Mobile and Designation
5. Bank Account details - Name, IFSC code, Account Number, Cancelled cheque (Image)
6. Business description
26. Get onboarded on Fastrr on Shopify with these simple steps:
1. Add Fastrr developer as a staff on your Shopify
store
2. Copy payment information from your SETU
dashboard and paste it in config form on Pickrr
dashboard
3. Copy the app tokens from Shopify panel and paste
it in config file and complete the remaining form
4. Navigate to Shopify store and select the checkbox
against Fastrr checkout