Rakuten Acquires Fillr to Smoothen E-commerce Auto-fill Payment Experience
Rakuten acquired Melbourne-based Fillr to expand its current suite of E-Commerce Solutions and to Increase Customer and Transaction Value
E-commerce payment transactions have evolved significantly in the last 12-18 months, especially during the COVID-19 crisis where customers preferred to shop online from e-commerce platforms that offer seamless e-commerce payment and auto-fill options. Many customers opt-out of the payment journey due to poor transaction experience, or due to the cumbersome fill-in possibilities. In order to solve the perennial e-commerce payment problems that customers face, Rakuten acquired Fillr, the world’s most intelligent autofill service.
97% of the businesses know that they have to improve digital experiences across channels, and also acknowledge DX to be a top priority; but, more than two-thirds (79%) of them have no idea where to start with DX applications.
What is Fillr?
Based in Melbourne, Australia, Fillr powers tens of millions of transactions monthly for the world’s top e-commerce, fintech and ‘buy now, pay later apps, including for Rakuten’s shopping rewards and Cash Back destination in the United States and Canada. Terms of the acquisition, led by Rakuten Americas on behalf of Rakuten Inc., were not disclosed.
At the time of this announcement, Amit Patel, CEO, Rakuten Americas said –
“Requiring shoppers to fill out a form at the end of a transaction is a distraction that can get in the way of completing a sale. Collaborating with Fillr will allow us to offer solutions to our merchant partners that eliminate unnecessary steps for consumers throughout the full transaction funnel.”
Amit added, “Accelerating checkout with autofill presents tremendous opportunities for digital retailers and financial services to grow their conversion rates and overall revenue.”
How this Acquisition Solves E-commerce Payment Issues
The acquisition solidifies the continuing relationship between Rakuten and Fillr. The companies are longstanding partners with strong product synergies and mutual goals of accelerating transactions, boosting conversions and growing customer lifetime value. Fillr autofill was integrated into the Rakuten iOS mobile app in 2018 and its Android mobile app earlier this year.
“Rakuten and Fillr share a common ambition to empower e-commerce partners with products and processes that help them realize the full value of their customers,” said Chris Koch, CEO, Fillr. “We’re thrilled to join with Rakuten to share our technology and expertise with our partners around the world.”
Fillr’s co-founders are Mr. Koch and Chad Stephens, who will continue to lead the Fillr team from Melbourne.