Spreedly, an open payments platform, and FlexFactor, a payment recovery platform, are partnering to help merchants recover lost sales. With more than $500 billion in sales lost each year due to false declines, this new collaboration aims to empower merchants to turn declines into revenue, enhancing shopping cart conversions and driving growth for the global merchant.
Key merchant benefits:
- Recover up to 30% of declined transactions: Significantly increase revenue by capturing sales that others declined.
- Boost conversion rates and customer lifetime value by 10-20%: Turn declined transactions into successful purchases, driving long-term business growth.
- Zero risk, no upfront costs: FlexFactor only takes a small percentage of recovered revenue, with no additional SaaS or setup fees.
- Seamless setup: Embed directly in Spreedly, Merchants benefit from an easy setup with no disruptions to existing payment flows, ensuring a frictionless experience.
A part of the Open Payments Platform, Spreedly Connect allows merchants to connect with multiple payment gateways, allowing them to route transactions to the best-performing providers in real-time. This ensures better performance and reduces declines. When declines occur, FlexFactor’s real-time decision engine evaluates the transaction and can guarantee the sale by purchasing the invoice, allowing merchants to complete the sale immediately.
FlexFactor said it only takes a small percentage of recovered revenue, with no additional SaaS or setup fees, making it a viable solution for e-commerce and subscription-based businesses.
“Our goal is to combat false declines at scale without adding complexity, ensuring seamless purchases,” added Ze’ev Shoval, CCO and co-founder of FlexFactor. “Partnering with Spreedly enhances our solution, allowing merchants to recover revenue from declined transactions, boost conversions, and improve the customer experience. This partnership is a win-win for everyone.”
“Partnering with FlexFactor allows us to offer merchants a comprehensive solution to tackle payment declines,” said Rose Francois, VP of partnership at Spreedly. “By integrating their real-time payment recovery service with Spreedly Optimize, we enable merchants to recover lost revenue and transform declines into opportunities for growth.”
