Cleveland—Dec. 20, 2013—CardinalCommerce, a provider of consumer authentication, reports that its customers' online same-store sales for the holiday shopping season are up more than 25 percent year over year. This compares to a nearly 20 percent increase reported by online merchants overall.
CardinalCommerce is also reporting an increase in its holiday season transaction volume, with Black Friday transactions up more than 66 percent and Cyber Monday transactions up more than 61 percent year over year. The company protected more than 1.1 billion transactions (of more than $93 billion in volume) to date.
The increased online sales are attributed to merchants using advanced consumer authentication tools that allow them to authenticate their customers at the right time and place. This improves the customer shopping experience, leading to more purchases and fewer lost sales.
CardinalCommerce enables more than 100 payment brands worldwide through thousands of merchants. "We complement familiar fraud mitigation tools with customized consumer authentication," said Tara Lavelle, vice president of marketing at CardinalCommerce. "We're proving that, when merchants present seamless consumer authentication, they can maximize sales, and perhaps more importantly, minimize or eliminate consumer abandonment."
CardinalCommerce has a large footprint in the market across several verticals, including electronic goods, apparel, jewelry, entertainment, toys, general goods and airlines. The company attributes its increase in transaction volume this year to two primary reasons: More merchants are using Cardinal's proprietary services and those that are connected to Centinel Select, the company’s Universal Merchant Platform, are generating increased sales.