Challenges

  • 01. Account Closure and Business Disruption

    Yogalap faced a sudden disruption when Stripe unexpectedly closed their account. Without a replacement solution, the business experienced cash flow interruptions and transaction failures, severely impacting operations

  • 02. Lack of Localized Payment Methods

    Many EU customers prefer localized payment options such as iDEAL in the Netherlands or Bancontact in Belgium. The lack of these options made it difficult to convert potential customers, resulting in lost sales opportunities.

  • 03.Complexities with Virtual Product Withdrawals

    Virtual product sellers often face challenges withdrawing funds, as traditional banks consider these businesses high-risk. Yogalap struggled with delayed transactions, high fees, and limited banking options for payouts

  • 04. High Rate of Fraudulent Transactions

    Fraudulent orders and stolen card purchases were prevalent, increasing chargebacks and disputes. This not only impacted revenue but also created a heavy operational burden in managing these issues.

Solution

To address these challenges, Yogalap partnered with Mollie as its primary payment processor. Mollie provided localized payment options like iDEAL and Bancontact, improving customer conversion rates. Additionally, the T+2 settlement cycle significantly enhanced cash flow, enabling faster reinvestment in their operations.

To tackle fraud, Yogalap implemented Visa RDR and Ethoca. These tools reduced disputes and chargebacks by streamlining communication between banks and merchants, leading to a 30% drop in fraudulent transactions.

For withdrawals and operational expenses, Yogalap adopted Wise and Revolut. These platforms facilitated cost-effective and swift fund transfers while offering corporate cards for seamless payment of business expenses.

As an auxiliary solution, PayPal was quickly integrated into their system after swift communication with PayPal UK. This provided an additional trusted payment method, appealing to customers preferring PayPal for secure transactions.

 

Results

The results were transformative. Mollie’s localized payment options and fast settlement cycle increased customer conversions by 20%. Fraudulent transactions dropped significantly, reducing chargebacks and improving overall customer satisfaction.

Using Wise and Revolut streamlined fund withdrawals, eliminating previous delays, while corporate cards enabled smoother expense management. The addition of PayPal further expanded their customer base, solidifying Yogalap’s position in the EU market.

By integrating these payment solutions, Yogalap not only overcame its challenges but also positioned itself for sustainable growth and operational efficiency in the competitive online courses market.

Yogalap - Branding

Yogalap is a company dedicated to teaching traditional Chinese Kung Fu courses online. With annual sales of $50,000 to $80,000, their primary customers are located across the EU, reflecting a strong focus on cultural education and skill-building.

Type

Small and Medium Business

Partners

Mollie, Wise, Revolut, Tech Integration, PayPal

Industries
Market

Online Education & Creator Economy

European

Global Payment Success
0%
Fraud Reduction
0%
Local Payments
0%
Market Expansion:Expanded into 15+ new countries
0%
Improved payment approval rates
0%
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