📣 Customer Showcase: Tank Payments is a Y Combinator-backed neobank and provider of financial infrastructure for the freight industry.
🔎 Tank helps freight businesses to eliminate friction in running their business by designing tools that are specific for the industry.
⛟ Truckers often give up 10% of their income to acess money they have earned quickly with shippers typically having 30 - 90 day payment terms and invoice financing companies charging 2%-5% in fees.
So Tank has created a banking experience designed for the freight industry by working with both invoice factoring and truckers in one platform on top of enriched transaction data from Ntropy to automate instant funding for truckers.
⭐ For freight carriers, Tank utilizes our Merchant Enrichment product to easily identify vendors and merchants from transactions on their issued cards to provide increased transparency across their fleet of payments and expenses.
🤖 Once Ntropy has accurately identified the merchant, we provide a clean and consistent merchant name and enrich the transaction with a clear merchant logo and website.
📱Tank then uses our Categorization product to provide additional context to a transaction and displays all of this information in their app to provide a better user experience to their customers.
Without this data, Tank’s customers would not always be able to recognise the payment made on their cards which could cause an increase in customer support queries and potentially lead to customer churn.
For Tank it is important to provide an excellent user experience for their customers as a way to distinguish themselves from competitors and by building a UX on top of the clean and enriched transaction data Ntropy provides, they are able to accomplish this.
#digitalbanking#neobank#frieght#trucking#transactionenrichment#categorization#merchantidentification#merchantenrichment#transactioncategorization
📣 Customer Showcase: Tank Payments is a Y Combinator-backed neobank and provider of financial infrastructure for the freight industry.
🔎 Tank helps freight businesses to eliminate friction in running their business by designing tools that are specific for the industry.
⛟ Truckers often give up 10% of their income to acess money they have earned quickly with shippers typically having 30 - 90 day payment terms and invoice financing companies charging 2%-5% in fees.
So Tank has created a banking experience designed for the freight industry by working with both invoice factoring and truckers in one platform on top of enriched transaction data from Ntropy to automate instant funding for truckers.
⭐ For freight carriers, Tank utilizes our Merchant Enrichment product to easily identify vendors and merchants from transactions on their issued cards to provide increased transparency across their fleet of payments and expenses.
🤖 Once Ntropy has accurately identified the merchant, we provide a clean and consistent merchant name and enrich the transaction with a clear merchant logo and website.
📱Tank then uses our Categorization product to provide additional context to a transaction and displays all of this information in their app to provide a better user experience to their customers.
Without this data, Tank’s customers would not always be able to recognise the payment made on their cards which could cause an increase in customer support queries and potentially lead to customer churn.
For Tank it is important to provide an excellent user experience for their customers as a way to distinguish themselves from competitors and by building a UX on top of the clean and enriched transaction data Ntropy provides, they are able to accomplish this.
#digitalbanking#neobank#frieght#trucking#transactionenrichment#categorization#merchantidentification#merchantenrichment#transactioncategorization
In a recent interview with The Paypers, our Chief Revenue Officer Mark Patrick discusses the paradigm shift towards customer-driven payments.
This interview covers how prioritising customer preferences in payment systems is becoming a key differentiator for businesses.
Mark shares data-driven insights on the impact of this approach, including potential increases in customer retention and overall revenue.
For industry leaders seeking to understand the next wave of payment innovation, this article offers crucial perspectives on creating seamless, flexible, and personalised payment experiences.
To read more click here: https://lnkd.in/dYn2jjtm#PaymentOrchestration#PaymentOptimisation#CustomerExperience
In the dynamic world of commerce, credit card processing is critical for small to medium-sized business (SMB) owners. The ability to process payments efficiently affects operational fluency and directly impacts customer satisfaction and retention. With the fast pace of tech advancements, the merchant services landscape continually evolves, presenting challenges and opportunities for business owners. Staying abreast of these changes is beneficial and essential for those looking to thrive in an increasingly digital marketplace.
https://lnkd.in/euQwNSuK
"We can solve customer refunds with A2A payments."
In the first of our conversations from payabl.'s Pay It Forward booth at Merchant Payments Ecosystem, we spoke to Margarida Rodrigues, Head of Payments at SONAE, to find out more about the payments customer experience. Rodrigues comments on the changes happening to the checkout, both in store and online.
We also find out how they decide who to partner with on payments and get her thoughts on some of the changes happening across Europe, from the growth of digital wallets to the impact account to account payments could have on customer loyalty.
Be sure to keep an eye out for more interesting conversations with leading brands coming soon.
https://lnkd.in/eY8AhYaR#fintech#finance#banking#paytech#payments#fintechnews#paymentsnews
🚀 Exciting news in the financial technology sector! 🚀
FIS, a global leader in financial tech, is joining forces with Commerce Bank to launch an end-to-end loyalty program management platform. Commerce Bank, a top-50 U.S. bank with assets exceeding $30 billion, stands to gain immensely from this comprehensive card-based loyalty solution.
🌟 This partnership aims to elevate customer satisfaction and boost operational efficiency for Commerce Bank's loyalty initiatives. A standout feature of the new platform is the FIS Premium Payback, which lets customers seamlessly redeem reward points at the point of sale for instant cash savings. This feature not only offers a frictionless and real-time experience but also encourages more engaged cardholder behavior without prior settlements.
💡 By utilizing FIS's advanced loyalty engagement solutions and APIs, Commerce Bank will acquire valuable customer marketing insights, accelerate product roll-outs, and gain robust back-end support for essential processes like fulfillment, reporting, and customer servicing. This marks a shift from traditional transaction-based loyalty programs to those that foster more meaningful and long-term customer relationships.
📈 FIS is dedicated to helping Commerce Bank innovate faster, improve operational efficiency, and enhance customer engagement, meeting the evolving expectations of customers and their lifestyles. This collaboration highlights FIS's capability to modernize financial interactions and optimize financial resources for its clients.
#Innovation#Finance#CustomerEngagement#LoyaltyPrograms#FinTech#Partnerships#Efficiency#CustomerSatisfaction
A Small Business Guide to Payment Processing
Meet customers where they want to pay with flexible, frictionless payment solutions.
- Consumers increasingly base shopping decisions on the payment experience. 91% say a satisfying checkout experience makes them more likely to shop with a merchant again. 48% won't shop at a store without contactless payments.
- Cash use is declining while credit card and contactless payments are increasing. In 2021, cash made up just 20% of payments compared to 31% in 2017. Credit card use rose from 18% of transactions in 2016 to 28% in 2021. Nearly 9 in 10 consumers used a digital wallet in 2022.
- Loyalty programs that use payment data can increase revenue from repeat customers by up to 25% annually.
- The U.S. contactless payments market is expected to grow at 18.8% CAGR between 2022-2030.
- 65% of businesses were targeted by payment fraud attacks in 2022. Security is crucial.
- Key software integrations include loyalty programs, promotions, inventory management, payroll, demand forecasting, and business analytics.
- Solutions should be easy to use, balance functionality and cost, ensure data security, accommodate growth, leverage industry expertise, and provide good customer service.
#payments#paymentsolutions#paymentprocessing
🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: Currence announced a big update to the iDEAL payment system: Starting today, consumers can create their very own iDEAL account + Speedy Checkout.
This addition not only expedites transactions but also heightens security since consumer data is securely stored within the iDEAL system, reducing the need for separate data handling by each retailer.
The account setup is free of extra charges and fully consensual concerning data sharing.
This account enables quicker and more secure completion of online purchases.
It also offers benefits for online retailers in the form of improved conversions and increased customer satisfaction.
Annually, 1.3 billion transactions are processed through iDEAL, accounting for 73% of all Dutch online purchases.
The updated checkout process, designed for efficiency, enables webshops to directly access address details from the user's iDEAL profile, thus increasing transaction speed and improving customer satisfaction.
This feature is expected to enhance online retailer conversions significantly.
The phased rollout of this new feature begins with ING customers on 17 April, followed by ABN AMRO customers at a later date, and is available to other bank customers starting today.
Daniel Van Delft, CEO of Currence, emphasized that the addition of profile creation to iDEAL's services responds to consumer and retailer demands for an even smoother payment experience, allowing for the pre-filling of address and payment details.
While these enhancements offer new benefits, iDEAL continues to provide its traditional payment option, ensuring users retain the choice of how they wish to conduct transactions.
More info: https://lnkd.in/ema29heV
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Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ]
Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]
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🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: Currence announced a big update to the iDEAL payment system: Starting today, consumers can create their very own iDEAL account + Speedy Checkout.
This addition not only expedites transactions but also heightens security since consumer data is securely stored within the iDEAL system, reducing the need for separate data handling by each retailer.
The account setup is free of extra charges and fully consensual concerning data sharing.
This account enables quicker and more secure completion of online purchases.
It also offers benefits for online retailers in the form of improved conversions and increased customer satisfaction.
Annually, 1.3 billion transactions are processed through iDEAL, accounting for 73% of all Dutch online purchases.
The updated checkout process, designed for efficiency, enables webshops to directly access address details from the user's iDEAL profile, thus increasing transaction speed and improving customer satisfaction.
This feature is expected to enhance online retailer conversions significantly.
The phased rollout of this new feature begins with ING customers on 17 April, followed by ABN AMRO customers at a later date, and is available to other bank customers starting today.
Daniel Van Delft, CEO of Currence, emphasized that the addition of profile creation to iDEAL's services responds to consumer and retailer demands for an even smoother payment experience, allowing for the pre-filling of address and payment details.
While these enhancements offer new benefits, iDEAL continues to provide its traditional payment option, ensuring users retain the choice of how they wish to conduct transactions.
More info: https://lnkd.in/ema29heV
Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ]
Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ]
Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]
Get the most important FinTech news and analysis in a 5 minute daily briefing you’ll actually look forward to reading. Sign up now: https://lnkd.in/eiQBxdTW
Übersetzung anzeigen
🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: Currence announced a big update to the iDEAL payment system: Starting today, consumers can create their very own iDEAL account + Speedy Checkout.
This addition not only expedites transactions but also heightens security since consumer data is securely stored within the iDEAL system, reducing the need for separate data handling by each retailer.
The account setup is free of extra charges and fully consensual concerning data sharing.
This account enables quicker and more secure completion of online purchases.
It also offers benefits for online retailers in the form of improved conversions and increased customer satisfaction.
Annually, 1.3 billion transactions are processed through iDEAL, accounting for 73% of all Dutch online purchases.
The updated checkout process, designed for efficiency, enables webshops to directly access address details from the user's iDEAL profile, thus increasing transaction speed and improving customer satisfaction.
This feature is expected to enhance online retailer conversions significantly.
The phased rollout of this new feature begins with ING customers on 17 April, followed by ABN AMRO customers at a later date, and is available to other bank customers starting today.
Daniel Van Delft, CEO of Currence, emphasized that the addition of profile creation to iDEAL's services responds to consumer and retailer demands for an even smoother payment experience, allowing for the pre-filling of address and payment details.
While these enhancements offer new benefits, iDEAL continues to provide its traditional payment option, ensuring users retain the choice of how they wish to conduct transactions.
More info: https://lnkd.in/ema29heV
Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ]
Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ]
Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]
Get the most important FinTech news and analysis in a 5 minute daily briefing you’ll actually look forward to reading. Sign up now: https://lnkd.in/eiQBxdTW
→ Increased Transaction Volumes
→ Network Congestion
→ Payment Infrastructure
These are some of the challenges banks and retailers face in their payment processing systems.
How can they adress them head-on to stay competitive and ensure customer satisfaction? Read in our blog: https://bit.ly/3zLyGAl
