The introduction of Retry technology from the BridgerPay payment network has helped Equiti Group achieve a 30 percent rise in global approvals of deposits.
The statistics for Equiti, a multi-asset financial product supplier, represent a 10 to 20 percent range above the industry standard as a ratio year to date (YTD).
Ran Cohen, BridgerPay’s CEO and founder, expressed his enthusiasm about the numbers published by Equiti. He said: “It is a real pleasure to work with a team of professionals that have only one outcome for their vision: success.
“Once we learned the business needs, our mission with Equiti was to perfect the payment experience, connect the perfect mix of payment providers for both local and global solutions, and have the ability to optimise them.
“We are so proud to see real growth in all of Equiti’s metrics; from rescued transactions, increased approval ratio and the total processed volume, even more so given the disruption of workflow during the COVID-19 pandemic. We are proud to have Equiti as a flagship client.”
Equiti said that it has benefited from fast approval ratios by incorporating BridgerPay’s Retry technology which enables traders to take advantage of the substantial market volatility and trading opportunities in recent months.
Gareth Bateman, Equiti Group’s global head of payments, added: “In 2020 Equiti’s approval ratios have increased significantly due to the adoption of BridgerPay’s Retry technology, which decreased Equiti’s cart abandonment rate and increased the approval ratio with the rescue of failed transactions.
“BridgerPay was the only technology provider able to deliver a unique customised technology solution that integrates into Equiti’s system and supports our rapid global growth in new and existing markets.”
As revealed in a recent article for SiGMA, through the Retry solution, BridgerPay has saved its merchants over $20 million this year in declined transactions.
It had previously focused on trading and gaming platforms, but is now looking to expand into eCommerce retailers as well as SaaS and other sectors of online transactions.