Philipp Bock, allpago: allpago’s Automated Card Updater and Intelligent Payment Routing helps merchants selling in the region
Latin America’s middle class boom in electronic consumer spending is creating a great opportunity for local and global merchants to sell their products and services into the region. When leveraging this opportunity merchants encounter several challenges when it comes to processing their payments which often cannot be solved on their own. This include finding the right local and not global technology partner to maximize conversion rates through the offering of local payment methods and features which are very specific in the Latin American Region, crucial for a successful operation and good consumer experience.
allpago has been driving innovation in the Latin American payments sector by pioneering features such as automated charge back alerts for merchants, or offering automated Boleto and Oxxo refunds. To further increase conversion rates and fine-tune the operation, two additional functionalities help merchants to maximize their revenues.
The Automated Card Updater allows merchants to automatically update expired or cancelled cards with the data of the newly issued card which has replaced the old one. This is specifically important for merchants with a business model based on recurring, or one-click transactions. This feature, which works with selected acquirers in the region for around 60% of the issued credit cards, creates a potential conversion-rate upside of around 2-3% for recurring transactions, calculated on a unique user base. allpago helps merchants that are integrated into its gateway to enable this functionality directly with the acquirers for their Merchant IDs.
Intelligent Payment Routing now allows merchants with several acquirer relationships to ensure the highest possible availability for their card processing operation during potential downtimes. It also ensures that schemes that are only processed by one acquirer, which is often the case in the Latin American Region, do get routed the right way and thus ensure the best possible conversion rates. First figures have shown a potential upside of around 3-4 % during a full month of operation.
Summarizing allpago is continuously adding payment methods and features for its customers and driving innovation. One of the next features that will be added to the service offering will be the protection against charge-backs for merchants that sell physical goods to online shoppers in the region.
allpago is one of the first payment service providers to achieve PCI DSS Level 1 – 3.0 Certification which ensures the highest possible security standards in the market.
Manel Juan, Chief Technical Officer, allpago: “After continuously collecting and analysing feedback from our existing Merchants, we are now delighted to be able to add two technical key features that will help our customers to offer a better consumer experience to their users and to increase conversion rates significantly. The introduction of these services represents a significant investment from allpago.”
About Philipp Bock
Philipp Bock is the CEO & Founder of allpago, the new way of accepting payments in Latin America. Prior to allpago, Philipp was responsible Brazilian subsidiary of arvato services (Bertelsmann AG) in São Paulo and also worked for Infineon Technologies (Munich and Paris), The World Bank Group (Paris), Arthur D. Little (Madrid), eVentures (Hamburg) and Schroder Salomon Smith Barney (London).
Philipp studied at the Technical University of Berlin, ESCP Europe and at the INSEAD and holds Master of Science in Finance, a German Diplom Kaufmann and a French Diplôme de Grande École.
allpago international (http://www.allpago.com/) is the leading payment provider for the LATAM region. allpago provides the most relevant local payment methods through one API and one single platform. Allpago offers the best conversion rates ensuring state-of-the-art technology and legal advice necessary for a successful e-Commerce operation in Latin America.
allpago enables start-ups to Fortune 500 companies to offer the necessary local payment methods in the Latin American market, which account for around 80% of their revenues. Current clients include Art.com, Getty Images, Intel Security McAfee, Norton Symantec, Paylogic, Sumup, Teamviewer and many other leading payment and digital companies.
Reference: The Paypers