Many companies could benefit from this kind of payment experience. That\u2019s why Elyn wants to offer try-before-you-buy to smaller retailers and brands. This is particularly important in France and other European markets where credit cards are nowhere as widespread as in the U.S. The product currently works with Shopify with other e-commerce platforms coming soon.<\/p>\n

Once you start thinking about try-before-you-buy, you realize that it is intrinsically connected with returns. That\u2019s why Elyn not only offers try-before-you-buy, but also handles the return system.<\/p>\n

\u201cWith try-before-you-buy, you only pay for what you decide to keep,\u201d Elyn co-founder and CEO El Mehdi Hachad told me. \u201cWe are also helping retailers with their returns so that return requests are turned into exchanges directly in the return interface that we provide.\u201d<\/p>\n

When a customer wants to return an item, Elyn asks you a couple of questions to narrow down the reason why you want to return something. Is it the wrong size or the wrong color? Do you want to get your money back? Do you want the same item in a different size? Do you want another item? Do you want a gift card?<\/p>\n

If people just want to be reimbursed, Elyn will offer you a gift card with a bit more money than what you originally spent so that retailers don\u2019t have to spend money from their cash balance.<\/p>\n

If customers want the same item in a different size, Elyn can look in the retailer\u2019s inventory directly and set the item aside if it\u2019s available. Depending on the option that you select, Elyn can seamlessly adjust the upcoming card transaction. This is a smoother experience for the end customer as they don\u2019t need to send something back, wait for the reimbursement and buy something else a week or two later.<\/p>\n

By default, Elyn gives you five days to decide whether you want to keep something or not. The startup tracks packages so that it can send you an email when your package arrives to explain payment details and include a link to the return portal.<\/p>\n

In order to avoid payment defaults, Elyn uses pre-authorization requests to verify the validity of Visa, Mastercard and CB cards. The startup charges transaction fees based on successful sales net of returns.<\/p>\n

\u201cThe way we see the variety of payment options and services is that you want to offer something for every use case,\u201d Hachad said. Some customers just want to enter their card details and move on. Others only want to pay with PayPal. Some people want to buy now and pay later using Klarna, Alma, Scalapay or another BNPL payment option. In some cases, customers like the convenience of Apple Pay.<\/p>\n

And now, Elyn believes it can add another logo to the checkout flow for people who want to slightly delay their online payment. All these payment companies are tackling cart abandonment. Adding more options can improve the conversion rate. And it\u2019s true that improving gross merchandise volume is a good way to convince online retailers that they should use your payment product.<\/p>\n

In addition to Headline and Arc, Motier Ventures (Galeries Lafayette owners\u2019 family office), Financie\u0300re Saint James, Marc Menase\u0301 (Founders Future) and Guillaume Princen also invested in the startup.<\/p>\n<\/p><\/div>\n

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