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Swedish motorsport warehouse, Speeding increased turnover fivefold in 5 years

Published on 24 Apr 2023

Speeding

"In the end, we found Nets, which has developed a simple and flexible payment solution for e-commerce. It was easy to implement for all different markets and had support for many different currencies."

Robert Celander

CEO, Speeding

"We look positively on partners like Nets, who are responsive and always strive to deliver an up-to-date solution. Nets develops its payment solutions partly based on the customers' needs, but also based on the wishes of their partners."

Tobias Boström

Partner Manager, Vendre

Problem: It was difficult to find a completely ordinary, traditional and good solution for card payments

Since 2009, the Borås-based company in Sweden called Speeding, has helped motorsport enthusiasts customise their cars and provided them with all the necessary components. Customers include everyone from motor enthusiasts who build out of their home garages, to racingcar drivers and dealers.

The business grew quickly and just a few years after it was founded, it gathered many online customers and offered them 10,000 products for sale. Interest in motorsport is great even outside Sweden’s borders, and this is clearly visible in Speeding’s sales statistics. Today, Speeding has 50,000 products in its range and its customers hail from all over Europe.

The two founders, Robert Celander and Tobias Albertsson, decided to improve and optimise Speeding’s webshop. Robert Celander, Speeding’s CEO, says:

“We wanted to be able to offer several different payment solutions, but it was difficult to find a completely ordinary, traditional and good card payment solution. For us, it was important considering that we sell internationally. And if you look statistically, card payment is still one of the largest or most common payment methods worldwide and online.”

Speeding had yet another problem to solve: How to charge a new business customer in another country in the smoothest possible way? And how do you charge larger customers who want a discount and therefore cannot order directly from the webshop?

Speeding

Solution: Card payment as first choice at checkout

They asked the Nets if they were in a position to help. Nets proposed Nets Paylink, a solution that involves emailing a payment link to the customer. When the customer clicks on the link, the card payment module opens, the customer fills in their card details, and the payment is made.

Robert Celender continues, “In the end, we found Nets, which has developed a simple and flexible payment solution for e-commerce. It was easy to implement for all different markets and had support for many different currencies.”

Speeding enlisted the help of its webshop supplier Vendre, who together with Nets integrated the new payment solution and added it as the first choice at checkout. Soon sales began to increase, not least to companies. Most companies have a company card, which makes it easy for them. They don’t have to register a lot of accounts and do a lot of verifications with a lot of SMS codes. They just type in their details, make a card payment, and then it’s done.

“The module is very simple, nicely presented visually, and is shown in the right language. For a customer in Norway, the card payment is shown in Norwegian; in Sweden it is in Swedish; in England in English— and so on,” says Robert.

When they introduced Nets, with language support and support for different currencies, foreign sales also took off. Robert explains: “Let’s say we receive an order from a company in France. We have no idea if they will pay, so either they have to make a direct bank transfer or they can use the payment link; and then there are a lot of people who find it easy to use the payment link because they only need to enter the information on the company card.” In this way, Speeding can negotiate and agree with the customer on price and delivery via email, and then send a payment link. When the payment is completed, it is automatically registered in Speeding’s business system, which forwards the order to the warehouse for pack-and-pickup.

Result: Strongly increased turnover, especially internationally

As good as Speeding is at finetuning cars, they seem to be speeding up their webshop, too. Since they started focusing on e-commerce and have added card payment capabilities from Nets as the first choice at the checkout, the turnover has increased fivefold— from about SEK 12 million (2017) to SEK 66 million (2022). And sales originating abroad are increasing the most.

“It is above all during the last 1.5 years that things have really swung upwards. With every month that goes by, demand from the foreign markets increase more and more. If you have an e-commerce business and want to sell internationally, I think it’s hard to find a better payment method than Nets – precisely because you have language support and it’s a simple, flexible card payment,” says Robert.

Since the beginning, Speeding has had a close collaboration with the e-commerce platform Vendre, which helped with the development of their e-commerce business.

One of the most important functions of Vendre’s platform has been the market support, which meant that Speeding was able to continuously connect to several different markets in its e-business. The marketing support includes everything from language selectors and unique storefronts to handling different shipping methods and currencies.

“The e-commerce industry is developing and changing all the time. It is therefore important for e-retailers to work with a scalable e-commerce platform that can be expanded, and together grow with.

Here, Vendre’s market support has been particularly important for many of our users, as it enables them to take on and expand in new markets— without having to connect to any additional platforms,” says Tobias Boström, Partner Manager at Vendre.

He also says that Vendre has integrated Net’s payment solutions with the majority of these customers:

“We look positively on partners like Nets, who are responsive and always strive to deliver an up-to-date solution. Nets develops its payment solutions partly based on the customers’ needs, but also based on the wishes of their partners.”

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