The integration of Retry technology from payments platform BridgerPay has helped Equiti Group to achieve a 30% increase in global deposit approvals.
The numbers for Equiti, a provider of multi-asset financial products, represent – as a ratio year to date (YTD) – a level 10 to 20% above the industry norm.
Ran Cohen (pictured left), CEO and Founder of BridgerPay, shared his excitement over the numbers reported 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.”
Through integrating BridgerPay’s Retry technology, Equiti said that it has benefited from quick approval ratios, which allows traders to take advantage of the significant market volatility and trading opportunities in recent months.
Gareth Bateman, global head of payments at Equiti Group, 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, BridgerPay has saved its merchants over $20 million this year in declined transactions through the Retry solution.
Previously, it had been focusing on trading and gaming platforms, but is now looking to expand into eCommerce merchants as well as SaaS and other online transaction industries.