Multi-asset financial products provider Equiti Group has reported a 30% increase in global deposit approvals, as a ratio year to date; 10% – 20% above the industry norm.
In recent months, quick approval ratios have helped traders benefit from the extensive market volatility.
Gareth Bateman, global head of payments at Equiti Group, noted:
Gareth Bateman
The significant increase in Equiti’s approval ratios in 2020 is due to the adoption of BridgerPay’s Retry technology, which decreased cart abandonment rate and increased the approval ratio with the rescue of failed transactions.
The BridgerPay Retry solution automatically retries a transaction with a wide range of payment providers that support multiple acquirers.
The partnership with the global payment provider BridgerPay has brought other major benefits including rapid integration of local payment service providers (PSPs) into Equiti’s system and the introduction of a wide range of alternative payment options such as e-wallets, credit and debit cards, mobile money, Equiti branded pre-paid cards and online payments.
BridgerPay’s extensive expertise in global payment solutions and existing relationships with hundreds of local payment service providers, has expedited Equiti’s global growth, especially in new and developing markets such as Latin America, East Africa and South East Asia.
Equiti now offers more than 100 payment solutions in the Latin America region and is able to offer the preferred payment method for each trader in this region. In addition, more than 30 payment solutions have been added in South East Asia.
Local markets prefer using local payment solutions as they want to use a provider they know and trust.
Ran Cohen, CEO and Founder of BridgerPay commented:
Ran Cohen
It is a real pleasure to work with a team of professionals who have only one outcome for their vision: success.
Once we learned the business needs, our mission with Equiti was to perfect the payment experience, connect the perfect mix of payment providers for both local and global solutions, and have the ability to optimise them. We are proud to see real growth in all of Equiti’s metrics; from rescued transactions, increased approval ratios to total processed volume, even more so given the disruption of workflow during the COVID-19 pandemic. We are delighted to have Equiti as a flagship client.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
