Worldpay from FIS has launched a new solution designed to help merchants improve their payment authorization, streamline costs and approve all legitimate payment transactions.
The new Revenue Boost is powered by machine learning and designed to help merchants process card-not-present transactions in a way that maximizes conversions, minimizes costs and reduces fraud.
By deploying Revenue Boost and working with Worldpay's experts, merchants can tailor the solution to their specific needs in order to help boost revenue on eCommerce sales and create new opportunities to accelerate growth.
“It’s time to rethink the narrative on payments — they are a strategic lever that can accelerate growth for ambitious merchants,” said Gabriel de Montessus, head of global enterprise at Worldpay from FIS.
The launch of Revenue Boost comes at a time when merchants are facing increasing challenges with authorization rates for card-not-present transactions. According to Bank of America, card-not-present declines are three times higher than declines with card present transactions.
Revenue Boost can help merchants address these challenges by using machine learning to identify and approve legitimate transactions while reducing the risk of fraud.
“As an industry — across issuers, retailers, acquirers — we all have a mutual interest in making sure legitimate card transactions are approved,” said Sara Walsh, senior vice president and payment network executive at Bank of America.
Worldpay launches Revenue Boost, which helps merchants improve their payment authorization, streamline costs and approve payment transactions.
Here are some of the benefits of Worldpay Revenue Boost for merchants
- Increased approval rates - Revenue Boost uses machine learning to identify and approve legitimate transactions, which can lead to increased approval rates. This can help merchants boost revenue and reduce the number of abandoned carts.
- Reduced costs - Revenue Boost can help merchants reduce costs by streamlining the payment authorization process. This can lead to lower transaction fees and fewer chargebacks.
- Improved fraud protection - Revenue Boost uses machine learning to identify and prevent fraudulent transactions. This can help merchants protect themselves from financial losses and reputational damage.
- Tailored to specific needs - Revenue Boost can be tailored to the specific needs of each merchant. This means that merchants can get the most out of the solution and achieve the best results.
Worldpay Revenue Boost is a powerful solution that can help merchants improve their payment authorization, streamline costs and reduce fraud. If you're a merchant looking for a way to improve your payment processing, then Revenue Boost is a solution worth considering.
