Second-hand fashion marketplace Vinted has partnered with Checkout.com to use its payment services.

The company says that since using the payments platform, acceptance rates have increased by 4.15 per cent in 2024.

The technology applies bespoke AI optimisations which are tailored to the online marketplace’s specific traffic patterns.

Vinted said these data-driven improvements have reduced failed transactions and increased user trust which has driven engagement on the platform.

As a result of the new technology, Vinted said it increased the volume of transactions processed by the platform between June and November last year.

Modestas Tursa, VP payments at Vinted said that the move has been instrumental in helping the company deliver “exceptional digital experiences” and scale across Europe and UK markets.

In September last year, Vinted announced a partnership with Oracle NetSuite to roll out a new enterprise resource planning (ERP) system as the company looks to expand.

As part of the rollout, Vinted aims to consolidate its financial processes and improve its data visibility across multiple departments.

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