Wall ID
About Wall ID
Wallid offers an Account-to-Account (A2A) payment solution for e-commerce that enables customers to complete transactions instantly through their banking apps, significantly reducing checkout friction. This technology addresses high cart abandonment rates and excessive payment processing fees, resulting in up to a 37% increase in conversion rates and 80% reduction in fraud and chargebacks.
```xml <problem> E-commerce businesses face challenges with high cart abandonment rates due to lengthy checkout processes and concerns over payment security. Traditional payment methods often involve substantial processing fees and increased risks of fraud and chargebacks, impacting profitability. </problem> <solution> Wallid provides an Account-to-Account (A2A) payment solution designed to streamline the e-commerce checkout experience by enabling customers to make instant payments directly through their existing banking apps. This eliminates the need for manual data entry and reduces friction, as shipping and payment details are securely pre-filled from the user's bank. By leveraging open banking connections, Wallid offers merchants a way to decrease payment processing costs and minimize fraud through biometric or fingerprint verification. The platform integrates with Shopify, adding Pay-by-Bank as an additional checkout method, and supports transactions in EUR and GBP. </solution> <features> - Instant checkout via direct bank app integration, pre-filling customer data for faster transactions - Account-to-Account (A2A) payments that reduce payment processing fees - Reduced fraud and chargeback rates through biometric or fingerprint verification - Shopify integration, adding Pay-by-Bank as an additional checkout option - Support for EUR and GBP transactions - Decentralized personal and payment data storage controlled by the user </features> <target_audience> Wallid primarily targets e-commerce businesses, particularly those using Shopify, that are looking to reduce payment processing fees, decrease cart abandonment rates, and enhance security. </target_audience> <revenue_model> Wallid charges a 1% fee per A2A payment transaction. </revenue_model> ```
What does Wall ID do?
Wallid offers an Account-to-Account (A2A) payment solution for e-commerce that enables customers to complete transactions instantly through their banking apps, significantly reducing checkout friction. This technology addresses high cart abandonment rates and excessive payment processing fees, resulting in up to a 37% increase in conversion rates and 80% reduction in fraud and chargebacks.
Where is Wall ID located?
Wall ID is based in London, United Kingdom.
When was Wall ID founded?
Wall ID was founded in 2022.
How much funding has Wall ID raised?
Wall ID has raised 470000.
- Location
- London, United Kingdom
- Founded
- 2022
- Funding
- 470000
- Employees
- 5 employees
- Major Investors
- SFC Capital