''GlobalCollect does have exceptional monitoring and crisis response capabilities and we’ve been happy with their level of service.''
What could be a more of an international business than a company solely focused on providing technology-based language learning solutions in 31 languages. Rosetta Stone Inc. is such a company. As the leading language-learning software in the world, Rosetta Stone makes learning a new language second nature. Millions of learners in more than 150 countries have already used the software to gain the confidence that comes with truly knowing a new language.
The Challenge – International Expansion to support growth
International expansion will be a major contributor to Rosetta Stone’s future growth: in its prospectus for its IPO, Rosetta Stone listed “increasing our focus on sizeable non-US markets” as one of the four pillars in its growth strategy.
This international expansion started in 2005 when Rosetta Stone set up a UK website. In order to speed up its time-to-market, Rosetta Stone leveraged its existing banking relationship to obtain a merchant facility enabling card acceptance in the UK.
As Rosetta Stone was planning on launching local websites for sales in Germany and Japan, it quickly realized that it would not be scalable to set up a local technical / banking relationship to support card acceptance in each country.
Based on their business challenges Rosetta Stone decided to conduct a Request for Proposal (RFP) process in early 2006 to select a single payment vendor that would provide scalability and flexibility, who:
- Has a full understanding of payment cultures of multitude countries/regions
- Brings broad knowledge best practices on card acquiring and payment methods to ensure success (e.g. localization, retry logic, payment positioning, etc).
- Manages all aspects of payment operations including payment product setup, reporting, reconciliation and remittance.
- Provides a fully hosted PCI compliant solution for cards with recurring capabilities to eliminate strict PCI requirements
- Flexibility on hosted checkout pages to eliminate redirects and retain the look and feel of the Rosetta Stone brand
- Provides customized tools and expertise to be able to track payment activity and test against historical industry benchmarks
- Instead of developing a bespoke connection for each country and/or form of payment, Rosetta Stone only set up a single connection with GlobalCollect. Based on the company’s experience, this has made it much easier to add new forms of payment resulting in much faster development time and lower maintenance expenses.
- Rosetta Stone used to undertake very manual processes to clear its account receivables and to reconcile credit card transactions with daily bank deposits.
- GlobalCollect enabled Rosetta Stone to complete a much faster integration with a third-party vendor of fraud prevention services.
- Lower IT expenses thanks to a single connection to GlobalCollect’s processing platform has resulted in lower IT expenses equivalent to a 30% reduction in solution delivery time and 75% reduction in design time.
- Lower back-office expenses thanks to utomated/streamlined processes, thereby generating an on-going savings wquivalent to 3 Full- Time Equivalents (FTEs).
- Lower fraud rates thanks to a faster integration with a third-party fraud prevention tool.
- Improved conversion rate and broader reach.
- Higher sales (fewer lost sales) thanks to better uptime.
“GlobalCollect will continue to play a key role in our plans to grow internationally because of its high competence in alternative payment methods, especially with cash-equivalent instruments outside the US. They have committed significant resources to key markets that align strategically with the markets we’ve identified as significant growth opportunities for our language-learning software. This enables us to reach more customer segments than with traditional payment methods alone.”
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About GlobalCollectGlobalCollect, part of Ingenico Group (Euronext: FR0000125346 - ING), is the most knowledgeable global Payment Service Provider in the world. The company processes international eCommerce payments for more than 600 of the world’s most recognized eCommerce brands in the digital goods and services, travel, retail and video gaming industries, among many others.
With two decades of payments experience, we enable our clients to efficiently and securely accept payments from more than 170 countries in more than 150 currencies. We offer in excess of 150 local payment methods, including all major credit cards, debit cards and alternative payment methods, giving unparalleled coverage throughout all global regions. Our robust and redundant systems guarantee our customers high availability and reliability. GlobalCollect’s business intelligence tools, Managed Fraud Services and more than 400 payments experts help our clients elevate their payment strategies to become a strategic asset to their companies.
GlobalCollect is a 100% subsidiary of Ingenico Group, global leader in seamless payment. Headquartered in Amsterdam, GlobalCollect has regional offices in North America, Asia Pacific, South America and the EU focused on bringing local presence with global reach and services to our clients. For more information please visit: http://www.globalcollect.com or http://www.ingenico.com