The global payments provider Paysafe Group Plc (LON:PAYS) has just informed the public that it has teamed up with Vindicia, an Amdocs and business-to-consumer digital services monetisation company.
The integration unites the capabilities of Vindicia SelectTM and Paysafe’s Payment Processing and Merchant Acquiring solutions. The relationship will help Paysafe’s merchants automatically retrieve failed payment transactions and reduce churn.
Paysafe has also recently announced that it has extended Google partnership, adding the prepaid solution paysafecard as a new payment method in the Google Play Store in Germany, the UK, France, Spain and Greece.
Andrea Dunlop, CEO of Merchant Acquiring, Europe, commented on the news:
The subscription economy is booming, but has its challenges when it comes to billing. By making it easy for consumers to make recurring payments, merchants can achieve greater recurring revenue, and focus on what matters – innovation and creating products. Vindicia’s renowned capabilities perfectly complement the breadth of payment types that merchants can process on the Paysafe platform – it’s the ideal fit for all parties.
Anthony Goonetilleke, Group President, Media, Network and Technology, Amdocs, added:
Merchants and retailers are constantly innovating, creating new services, products and offerings to attract and retain customers. Failed payment card transactions are frustrating for both the merchant and consumer, and by partnering with Paysafe, Vindicia is helping to enable seamless customer experiences while increasing ongoing revenue streams and reducing churn.