Emerging Fintech Company’s Patented Technology Eliminates Need for Third-Party Transaction Processors
NEW YORK, NY / ACCESSWIRE / April 6, 2022 / Evvio, an emerging fintech company focused on next generation ecommerce technology, today announced the launch of Fluid CommerceTM. For ecommerce transactions, Fluid Commerce’s patented technology eliminates the need for credit cards, bank accounts and third-party processors.
Fluid Commerce can be used within and across ecommerce networks, including the metaverse, digital games ecosystems, the sharing economy and super apps. In addition, the technology includes patented verified metered services to prevent fraud and avoid disputes. It also allows for the use of any digital currency, including fiat, tokens, rewards and crypto.
“We are excited to launch Fluid Commerce, and to help usher in a new era of digital commerce through our disruptive technology,” stated Brad Albright, Co-Founder of Evvio. “Without intermediaries, our technology provides for seamless and cost-effective transactions for both online buyers and sellers.”
Evvio estimates that the patented capabilities of Fluid Commerce can dramatically increase the ecommerce revenues of any licensee by up to 49 percent, due to three key factors:
- Expanded Transaction Potential Among Current Market Participants: The advantages of instant, feeless ecommerce transactions represent a substantial differentiating capability. They make for a much more compelling environment for customers to conduct online transactions, resulting in significant, sustained competitive advantages for any licensee. Further, according to Statista, 21 percent of consumers are concerned about the security of entering credit card details to complete an online transaction – these concerns are eliminated by virtue of Fluid Commerce not requiring a credit card.
- Larger Addressable Market via Inclusion of the Unbanked and the Underbanked: Since participation in Fluid Commerce does not require a bank account or credit card, licensees can realize significant expansion of their addressable market. According to a Federal Reserve report from 2019, 63 million adults in America alone are either unbanked or underbanked. Accordingly, many are currently locked out of ecommerce ecosystems and would be included in those powered by Fluid Commerce.
- Greater Conversion Rates via Instant Transactions: Because of the elimination of intermediary processors in online transactions, significant revenue growth is possible by elevating conversion rates. Abandonment or non-completion of ecommerce transactions are largely attributable to additional checkout steps, time delays and fees, and Fluid Commerce addresses these issues directly.
“Ecommerce has accelerated in recent years, but users are still burdened by constraints that result in lost revenue and lack of access to services,” added Adrian Jones, Co-Founder of Evvio. “Fluid Commerce is the only technology that provides a secure, direct and financially inclusive solution that has significant competitive advantage for licensees as well as consumers.”
Evvio is an emerging fintech company focused on next generation ecommerce technology. The company’s patented Fluid Commerce engine provides frictionless ecommerce transactions without third-party processor steps, delays or fees. It allows anyone to earn and spend securely and includes verified metered services to prevent fraud. Fluid Commerce is inclusive, giving the unbanked and underbanked greater ability to earn and spend. It uses any digitally-represented currency and provides broad applicability across a range of marketplace types. The technology also expands ecommerce revenue by increasing the number of participating buyers and sellers. For more information, visit www.evvio.com.
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