FlexFactor, a provider of real-time payment decline recovery solutions, this week announced a partnership with OpenPath, a payment orchestration provider. It empowers merchants on WooCommerce, Adobe Commerce (Magento), BigCommerce, or Shopify to activate FlexFactor’s advanced decline recovery with the click of a button. This addresses a critical industry challenge which costs U.S. merchants $300 billion per year in lost revenue.
FlexFactor’s AcceptIQ platform leverages AI and predictive analytics to automatically recover legitimate customer transactions wrongly declined by traditional payment systems. This seamless integration combines with OpenPath’s extensive e-commerce platform coverage to immediately boost merchant revenues, enhance customer experiences, and optimize customer lifetime value – without introducing complexity or cost to consumers.
“Modern e-commerce demands seamless payment experiences for optimal conversion,” said Elio Vitucci, CEO of FlexFactor. “We selected OpenPath as a preferred connectivity partner due to their extensive platform coverage, sophisticated technology, and ease of integration. Our teams have worked diligently to deliver an effortless integration experience, enabling merchants to instantly access our powerful solution. Together, FlexFactor’s recovery innovation and OpenPath’s unmatched connectivity create an industry-leading solution to combat false declines at scale.”
“We’re thrilled to partner with FlexFactor to bring the market’s most effective decline recovery solution to merchants across the major e-commerce platforms. Our integration with FlexFactor enhances our market-leading orchestration capabilities by offering instant, frictionless access to a proven decline recovery solution,” said Scott Dorey, CEO of OpenPath. “With our extensive payment processor network and dedicated integrations with Shopify, WooCommerce, Adobe Commerce (Magento), and BigCommerce, merchants can now seamlessly recover significant lost revenue. The result for them is an immediate and measurable increase in sales revenue.”
False declines create significant customer frustration and damage long-term customer loyalty. With the OpenPath integration, merchants can:
- Automatically recover up to 30% of declined transactions in real time
- Deliver frictionless customer experiences
- Improve customer lifetime value through higher conversion rates
- Maximize marketing ROI by retaining revenue from existing transactions
