Worldpay has launched AuthMax, a new authorization solution that is designed to increase credit and debit card approval rates for ecommerce merchants based in the US.
The solution works by analyzing transaction data and applying behavior-driven rules. By working to boost approval rates for card-not-present (CNP) purchases, AuthMax can help lift revenue for merchants.
AuthMax analyzes numerous authorization-related factors, and proactively optimizes transactional data while preserving the customer experience and enabling incremental approvals instantly.
“We deployed AuthMax with no additional coding and were able to recognize additional topline revenue,” said Chuck Vogt, an early AuthMax user and director of applications development and PMO at Great HealthWorks, a Ft. Lauderdale, Fla. provider of science-based health and wellness products. “We look forward to the lift in revenue and approvals that AuthMax will contribute in the future.”
AuthMax is a key element within Worldpay’s overall ecommerce Conversions Optimization Suite, and is part of a broader, data science-driven initiative undertaken by the company to help businesses boost approvals across the entire payments lifecycle—including acceptance, initial authorization attempt, recovered sale, deposit, and post-deposit intelligence.
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