Worldpay offers clients smarter eCommerce services
New Worldpay AuthPlus solution ensures merchants achieve a higher payment approval rate while improving customer loyalty and revenue
São Paulo, August 6, 2018 – Aiming at the increasingly competitive payment market, Worldpay Inc., a global leader in payments, launched today Worldpay AuthPlus, a new solution that provides more intelligence to purchasing processes, representing higher card approval rates and reduced costs for merchants. The launch coincides with the fast growth of Brazilian eCommerce, which is expected to increase 12 percent, to R$ 53.5 billion in 20181.
Worldpay AuthPlus enables merchants to optimize their electronic payment processing with a flexible, data-driven approach and smart transaction routing. Worldpay AuthPlus is the answer to process inefficiency by improving approval rates and finding the most inexpensive path for each transaction. This management and distribution of processes is central to the solution since it allows clients to seek the best rate options with the lowest cost. The average eCommerce approval rates are often below 90 percent and can represent millions of dollars in lost income, depending on total sales.
An intelligent payment process is crucial for merchants, since the data generated in the transactions provides insight on consumer behaviors, which can be used to correct and improve the processes. All of this directly affects the retailer's revenue. In parallel, consumers are increasingly demanding a fast and secure experience when shopping online. The Worldpay Mobile Payment Journey data indicates that 53 percent of Brazilians would pay more for a product, service or trip if their user experience was better2.
The launch of Worldpay AuthPlus also marks one year after the announcement of the company's domestic license for credit and debit card payment processing in Brazil.
According to Juan D'Antiochia, Worldpay general manager for Latin America, the Brazilian market is very dynamic and profitable with advantages for retailers and consumers. "We are very pleased and confident about this launch. Our focus is constantly improving the technologies and generating new experiences for our clients.
"Card approval rates are one of the most important elements in payment processing because it impacts the merchant´s revenue and consumer satisfaction. Strong security measures can lead to false no-purchase alerts by card issuers, affecting approvals and consequently damaging the consumer experience. In part, this causes an approval rate gap between face-to-face and online transactions. With this solution, clients will be able to correct inefficiencies and recover revenue that would otherwise be lost to them", concluded D'Antiochia.
AuthPlus is exclusive to Latin America, if you would like to speak to our team about a similar product in your region, please get in touch below. Speak to the team
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global integrated omni-commerce. With industry-leading scale and an unmatched integrated technology platform, Worldpay offers clients a comprehensive suite of products and services globally, delivered through a single provider.
Worldpay processes over 40 billion transactions annually through more than 300 payment types across 146 countries and 126 currencies. The company’s growth strategy is expanding into high-growth markets, verticals and customer segments, including global eCommerce, Integrated Payments and B2B.
Worldpay, Inc. was formed in 2018 through the combination of the No. 1 merchant acquirers in the U.S. and the U.K. Worldpay, Inc. trades on the New York Stock Exchange as “WP” and the London Stock Exchange as “WPY.”