Powered by machine learning, Revenue Boost was designed to help merchants process more card-not-present transactions while decreasing the cost and risk of taking payments.
Per the information detailed in the announcement, as merchants are struggling to keep up with evolving network changes, multiple payment options, and issuer preferences, failed and retried card-not-present transactions are increasing in frequency, raising costs. Worldpay has launched Revenue Boost, a unified payment optimisation solution, with the aim to help better merchants’ payment authorisation, simplify costs, and approve all legitimate payment transactions.
The solution helping maximise conversions, minimise costs, and reduce fraud for merchants combines Worldpay’s payments data power and scale with machine learning to increase performance. Working with Worldpay’s payments experts, the solutions’ multiple features can be mapped to a merchant’s specific needs to help increase revenue on ecommerce sales, while creating new opportunities to expedite growth.
Per the press release information, Worldpay enables merchants no matter the size to take, make, and manage payments across channels, geographies, and industries. More than one million merchants worldwide leverage Worldpay solutions to power their in-store, online, and mobile transactions, fight fraud, optimise authentication, and access value-added services that improve commerce. What is more, Worldpay helps facilitate payouts to an extensive network of suppliers and beneficiaries around the world, having the capability to send money to approximately 225 markets in almost 146 countries.
As part of its development strategy, Worldpay from FIS made public two announcements in June centring payments. The most recent one was a partnership with Visa and HSBC UK, which sought to enable FIS UK-based merchants to incorporate Visa instalments at checkout. Prior to this news, the company announced a separate collaboration with payment gateway Volt with the aim of providing merchants with the ability to receive payments from consumers by leveraging Open Banking.
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