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Paysafe partners with Vindicia to enhance recurring billing revenues for merchants
Jan 15, 2019
Vindicia relationship will help Paysafe merchants automatically retrieve failed payment transactions and reduce churn
London, UK – Paysafe, a leading global payments provider, today announced that it will partner with Vindicia, an Amdocs company and a leader in business-to-consumer digital services monetisation. The integration will bring together the unique capabilities of Vindicia SelectTM and Paysafe’s Payment Processing and Merchant Acquiring solutions. The strategic relationship will enable Paysafe’s merchant customers to successfully bill unprecedented volumes of recurring payment transactions by automatically resolving previously declined card payments.
Paysafe’s payments platform equips merchants with a diverse and efficient means of accepting payments from around the globe. The combination of Vindicia’s capabilities with Paysafe’s payment processing solution will benefit merchants that transact with consumers on a recurring basis and experience frequent loss of revenue and customers as a result of credit card declines in Card Not Present transactions. Vindicia Select automatically evaluates such declined transactions, understands the reason for the decline, and, where relevant, applies proprietary business rules and logic that enable the transactions to be processed successfully. As a result, merchants increase revenue, reduce churn and extend customer life-time value.
Consumers today subscribe to a vast range of online, video and physical services, including cloud software, music, movies, and over-the-top video services, as well as fresh produce boxes, prepared meals, and pet supplies. By partnering with Vindicia, Paysafe’s merchant customers will be able to make the most of the subscription economy opportunity.
Andrea Dunlop, CEO of Merchant Acquiring, Europe, said: “The subscription economy is booming, but has its challenges when it comes to billing. By making it easy for consumers to make recurring payments, merchants can achieve greater recurring revenue, and focus on what matters – innovation and creating products. Vindicia’s renowned capabilities perfectly complement the breadth of payment types that merchants can process on the Paysafe platform - it’s the ideal fit for all parties.”
Anthony Goonetilleke, Group President, Media, Network and Technology, Amdocs, said: “Merchants and retailers are constantly innovating, creating new services, products and offerings to attract and retain customers. Failed payment card transactions are frustrating for both the merchant and consumer, and by partnering with Paysafe, Vindicia is helping to enable seamless customer experiences while increasing ongoing revenue streams and reducing churn.”
Vindicia, an Amdocs company, offers comprehensive subscription management solutions that help businesses acquire and retain more customers. Providing much more than just a billing and payments system, the company’s SaaS-based subscription management platform combines big data analysis, strategic consulting and proprietary retention technology. Vindicia provides its clients with more recurring revenue, more customer data, better insights, and greater value throughout the entire subscriber lifecycle. That’s why they call us the Subscription People. To learn more visit www.vindicia.com.
About Paysafe Group
Paysafe Group (Paysafe) is a leading global provider of end-to-end payment solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions.
With over 20 years of online payment experience, an annualized transactional volume of over US $80 billion, and approximately 3,000 employees located in 12+ global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world.
Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.
Visit us at www.paysafe.com.
For media enquiries, please contact:
Head of Corporate Communications, Paysafe Group
E: Anna.Howard@paysafe.com M: +447585 967772