PAYMENT OPTIMIZATION

Ensuring the right payment methods are available in each market is crucial for seamless transactions, improved conversion, and in many cases cost optimization. Whether it's through direct agreements or routed through a processor like Adyen, Stripe, we’ve got you covered. We recommend categorizing your payment strategy based on: - Focus markets with direct agreements with local payment providers. - Growth markets with local payment providers through direct agreements or via processors. - Presence markets where you are selling but not actively targeting (e.g., card and PayPal markets). This strategic segmentation ensures that your payment solutions align perfectly with market dynamics, while maximizing efficiency and customer satisfaction.

Customizing the order of your payment methods adds another layer of sophistication to the checkout process. Whether you choose to use static or dynamic ordering, the goal remains the same: providing an exceptional shopping experience for all types of customers. For example, adjusting the payment order based on previous usage data ensures that preferred payment options are prominently featured. This not only enhances user experience but also minimizes the risk of cart abandonment, contributing to higher conversion rates. If instead you want to highlight payment methods that have a lower transaction cost, you can feature them higher up to reduce costs.

Building customer loyalty hinges on delivering personalized experiences. By tailoring the purchasing journey to individual preferences, you can create a higher level of engagement. Utilizing techniques such as tokenization of payment methods for a one-click-buy experience, or by prioritizing preferred payment options based on past choices adds a touch of familiarity and convenience, building long-term relationships with your customers. Or take it one step further and enable some payment methods for customers that have registered an account.

Taking control of costs is essential for sustainable growth. Briqpay simplifies this process by eliminating technical burdens of reintegrations, and providing vendor independence. Adding payment providers with a single click streamlines operations, while giving you more leverage during negotiations, ensuring optimal solutions at competitive prices. Leveraging Briqpay's rule engine enables real-time optimization of payment flows, allowing you to adjust the payment mix based on parameters like cart value or product types, effectively managing costs without compromising service quality.

Tailoring payment methods based on cart contents addresses specific challenges, such as long delivery times or high-risk products. By displaying relevant payment options for different scenarios, you make sure that you have the right payment methods available for every order.

Experimentation is key to unlocking potential improvements. Conducting A/B tests on payment providers, payment mixes, layouts, and more provides valuable insights into consumer behavior. By measuring outcomes and iterating based on results, you can continuously refine your offering, maximizing conversion rates and overall performance.

In today's fast-paced environment, having the flexibility to adapt and control your processes is crucial. Therefore, the rule engine is not only controlled on our side, but also through our API. This means that for any session you create, you can in real time choose which payment methods should be available for that specific customer.