PayFuture AI And Deep Learning Tech Opens A World Of Opportunities For E-Commerce Merchants
business|Fintech
22 Dec 2020
has launched a new high performance payment gateway connector that delivers online access to popular local payment options across numerous emerging markets. With the rapid global growth of ecommerce, both local and international online merchants can now use PayFuture to enter these emerging markets and capture significant opportunities for business, which were previously unexploited. By choosing PayFuture’s modern gateway technology functions. Merchants now have a chance to leap forward technologically, moving away from aging legacy gateway systems offering just generic international payments options and now have the ability to give these same merchants access to localised and most popular payments across each of the major global emerging markets. By incorporating AI and deep learning technology at its heart, PayFuture ensures an unrivalled customer experience and journey. It also ensures optimum approvals and full conversion recovery to decrease merchant’s revenue loss. Importantly, With PayFuture’s Risk and Fraud monitoring system, merchants also benefit from comprehensive fraud protection and auto alerts, which warn merchants of potential risks as they occur. The countries initially accessible through the gateway include: Argentina, Bahrain, Bangladesh Brazil, Columbia India, Japan, Malaysia, Mexico, Nepal, Pakistan, Saudi Arabia, Bahrain, Qatar, UAE, Thailand, Vietnam and many more. With just a few clicks, PayFuture delivers accurate real-time data that assist merchants in understanding customer trends and payment habits of each country. This powerful payment data-rich country insight and analysis enables instantaneous, real-time views helping merchants to fine tune their marketing plans, budgets and
growth plans for each region. A highly experienced team of transaction monitoring experts is on hand 24/7/365 to closely watch the flow of traffic’ aiming to prevent transaction disruption even at peak periods. Of particular note, is PayFuture’s Conversion Recovery Solution. This works in real-time to identify when a customer might abandon a sale. This alerts both the systems chat-bots and the merchant’s call centre to re-engage with the customer to save the deal. For transactions that are ultimately declined, the system offers users the option of trying a different payment option. Commenting on the launch Manpreet Haer of PayFuture noted:
“This is an enormous leap forwards. Access to local Ecommerce Payments payment methods is now crucial in emerging territories – especially those without developed retail or personal banking sectors. PayFuture’s technology enables this by allowing the ecommerce merchant the full suite of all local payment methods, faster payment completion times and therefore reducing payment abandonment. Globally we find that many emerging market’s most popular payment methods are using mobile only wallets and localised mobile payment systems. These are all enabled as standard via the PayFuture connector gateway.
“Our system allows customers to move into growth countries for the first time, with the risk of fraud under close control. This ensures significant peace of mind and that our merchants receive the highest customer conversions no matter which country their clients are paying from.”
