First Data unveils Authorization Optimization solution for merchants

Wednesday 20 March 2019 13:02 CET | News

First Data has unveiled Authorization Optimization, a digital commerce solution that optimises card-on-file transactions for merchants.

The new solution applies intelligent transaction tools, including a rules engine and data science, helping merchants increase authorisation rates for card-on-file transactions by as much as 10%.

Authorization Optimization is designed for businesses with high volumes of digital payments. Examples include the burgeoning subscription economy, which relies heavily on recurring payments, and businesses like ride-sharing platforms that depend on customer-initiated digital transactions via stored payment information.

First Data’s Authorization Optimization solution is powered by artificial intelligence, machine learning, and a team of data scientists. It enables merchants to conduct their own analytics – in a single dashboard – on a variety of data types. This includes card volume, authorisation and decline rates, card types, geography, customer demographics, repeat customer data, and average ticket size, amongst others.

In March 2019, First Data has released its first nationally-representative study of more than 2,000 German consumers, examining consumers’ preferred payment methods. For more information about the company, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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Keywords: First Data, launch, Authorization Optimization, digital commerce solution, merchants, ecommerce
Countries: World

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