Globally, card payments fail 10-15% of the time. In emerging markets, this failure rate is much higher – ranging as high as 40%. Payment failures not only result in immediate lost revenue, but can impact future sales, with 62% of customers opting not to return to a website after experiencing a failed payment. In this article, we highlight 5 tried-and-tested ways that business can increase payment success rates.
In emerging markets, the payments ecosystem is particularly fragmented, with multiple payment methods operating independently. By consolidating payment processing and management, payment orchestration can help businesses to increase acceptance rates, improve operational efficiency, and enhance user experience – taking the pain out of getting paid.
In Southern Africa, debit orders are still the primary method for collecting recurring revenue. However, the payment method is complex and costly to implement, and can be risky to manage at scale. Find out how Revio's Debit Order API simplifies this complexity, making debit order accessible and scalable to businesses of all sizes.
As the year comes to a close, our COO reflects on the African payments landscape and what the future holds for Revio
Revio raises $1.1 million from leading investors to solve the payments failure problem in emerging markets. The round was led by SpeedInvest, joined by Ralicap Ventures, The Fund, and Two Culture Capital.
Old Mutual, Africa's largest insurer, launched SMEgo to help SMEs run and grow their businesses on the go. Our partnership enables SMEs to receive card and EFT payments instantly, helping businesses get paid on time and better manage cash flow.
Anytime Fitness is a franchise of 24-hour health and fitness clubs with more than 5,000 locations in 35 countries. Learn how the group collects recurring payments and accelerates market expansion using Revio's Payments API.
Seamlessly settle into multiple accounts in multiple countries and currencies, optimising your cash flow and transaction costs. Perfect for marketplaces, franchises, and revenue share models.
Joining us from a career in venture building and investing, our new COO shares why she excited about scaling Revio. Spoiler: What do you get when you combine a multi-billion dollar market opportunity, best-in-class technology, and a team with 50+ years payments experience? That's right: Revio.
Whether customers are checking out on an e-commerce site, paying an invoice or setting up recurring subscription transactions, the process must be seamless and straight forward. Giving customers the control the way they pay and enhance their customer experience.
When it comes to customer engagement, brands can no longer focus on the transactional aspects of their relationship. It is an ongoing process that extends beyond sales and support to proactively anticipating your customers' needs. Read how FCB.ai and Revio's partnership enables this at scale.
For businesses entering the subscription commerce market, creating a frictionless end-to-end experience is critical. More importantly, people want the freedom to pay using any method of their choice and expect businesses to accept a wide range of payment methods. This is where the partnership between Ozow and Revio comes in.
Pay as you go pricing, with best-in-market transaction fees and success rates.
