Introduction
The AI-powered payment optimization suite will assist businesses in reducing the cost of payments, simplifying fraud management, and increasing payment conversion. Customers of Adyen can experiment with various payment configurations to optimize performance by utilizing data-driven, customized performance recommendations and opportunities.Adyen’s AI solutions have a robust foundation for distinguishing between legitimate and fraudulent customers, as they have processed payments for more than one billion consumers worldwide. Adyen has probably encountered the shopper elsewhere on the platform when an Adyen customer encounters a new shopper. There is a greater than 90% likelihood that Adyen has encountered the consumer previously for a retail merchant on the Adyen platform. AI optimizations can expedite the checkout process when a good consumer is identified, while retailers and shoppers also benefit from the precise mitigation of payment fraud.
In the present day, the fraud control process is exceedingly intricate, necessitating businesses to establish extensive manual regulations to counteract the constantly changing fraud strategies. By eliminating the operational burden from fraud management teams, Adyen Uplift enables businesses to automate fraud control. The system streamlines and enhances risk management without the necessity of manual regulations. This allows businesses to decrease the number of false positives and fraud, contingent upon their risk tolerance.
The impact has been observed firsthand by businesses piloting the risk product. Adyen’s pilot enterprise customers have reduced their manual risk rules by an average of 86%, and 35% of them have completely eliminated manual rules, thereby saving valuable time and resources.
50 Popular Fintech Companies You Should Know
Adyen’s consumer, Indeed, a prominent employment matching and hiring platform, was able to conduct AI-based optimization experiments specifically designed to align with the distinctive characteristics of its business. This resulted in a decrease in operational workload due to the automation of processes to enhance efficiency.Adyen Uplift has reduced the cost of payment for pilot consumers in the United States by up to 5%. To reduce the total cost of payment, Adyen’s AI determines the most advantageous routes with the most favorable rates for transactions. Adyen’s optimizations, which customized the shopper-facing checkout flow to meet the requirements of pilot customers, also resulted in cost savings.
Businesses continue to be hindered from accomplishing their objectives due to the intricacy of payment management. They are perpetually compelled to make trade-offs between cost, fraud, and conversion. Businesses can optimize the entire payments funnel with AI, thanks to Adyen Uplift. Adyen’s global transaction dataset is utilized to train AI-powered payment optimizations that are integrated into a single product portfolio. The AI-first approach leverages automated conversion optimization and risk-based intelligence to assist businesses in maximizing the benefits of payments, as opposed to attempting to navigate the complexity of payments in operational isolation. Businesses have experienced an overall increase in their payment conversion rate of up to 6%, which has had a substantial impact on their profits, through the pilot program.
Top 15 Tax Software Solutions For 2024
Industry Comments
“Balancing risk management, driving conversion, and minimizing cost has always required ineffective compromises – until now” said Carlo Bruno, VP of Product at Adyen. “Adyen Uplift changes the game by unleashing the depth and power of AI to solve for real-time payment optimization. This will transform cost savings and performance, redefining business efficiency in 2025 and beyond.”
“We’ve increased our conversion rate by up to 2% with Adyen’s AI, making a real difference to both our performance and cost efficiency, while keeping fraud under control,” commented Luca Spichtig, Head of Digital Operations & Projects at On.
“We’ve increased our conversion rate on customer initiated transactions by 10% by leveraging Adyen’s AI technology, which optimizes the entire payment funnel while maintaining control over fraud and costs,” commented Kes Saulis, Head of Payments at Nord Security.
FAQs
1. What is Adyen Uplift, and how does it benefit businesses?
Adyen Uplift is an AI-powered payment optimization suite designed to increase payment conversion, simplify fraud management, and reduce payment costs. It provides tailored performance recommendations, automates fraud controls, and optimizes payment routing to maximize efficiency and profits.
2. How does Adyen Uplift improve fraud management?
Adyen Uplift eliminates reliance on extensive manual fraud rules by automating and refining risk management. With a high likelihood of recognizing shoppers across its platform, Adyen leverages AI to distinguish good shoppers from fraudsters, reducing false positives and operational burden while enhancing fraud mitigation.
3. What results have businesses seen from Adyen Uplift’s pilot program?
Pilot businesses experienced an 86% reduction in manual fraud rules and eliminated them entirely in 35% of cases. Companies reduced payment costs by up to 5% and saw up to a 6% uplift in payment conversion rates. Additionally, operational efficiency improved as processes were automated.
Conclusion
Adyen Uplift represents a significant innovation in payment optimization, enabling businesses to balance conversion, fraud control, and cost efficiency seamlessly. By leveraging AI and Adyen’s global transaction dataset, the solution empowers companies to automate risk management and streamline payment processes. Pilot results demonstrate substantial improvements in conversion rates, fraud mitigation, and cost savings, validating the suite’s potential to transform payment management. Businesses no longer need to compromise between conversion, risk, and cost, as Adyen Uplift delivers an all-in-one AI-driven solution to maximize profits and operational efficiency in a competitive market.
To participate in our interviews, please write to us at news@intentamplify.com
Top Fintech Stories:
