Financial services tech provider Worldpay from FIS has announced the launch of its Revenue Boost solution to help optimise payments and maximise ecommerce potential for merchants. Powered by machine learning, Revenue Boost was designed to help merchants process more card-not-present transactions while decreasing the cost and risk of taking payments.

Context and capabilities of the Revenue Boost solution Per the information detailed in the announcement, as merchants are struggling to keep up with evolving network changes, multiple payment options, and issuer preferences, failed and retried card-not-present transactions are increasing in frequency, raising costs. Worldpay has launched Revenue Boost, a unified payment optimisation solution, with the aim to help better merchants’ payment authorisation, simplify costs, and approve all legitimate payment transactions. The solution helping maximise conversions, minimise costs, and reduce fraud for merchants combines Worldpay’s payments data power and scale with machine learning to increase performance.

Working with Worldpay’s payments experts, the solutions’ multiple features can be mapped to a merchant’s specific needs to help increase revenue on ecommerce sales, while creating new opportunities to expedite growth. When commenting on the announcement Gabriel de Montessus, Head of Global Enterprise, Worldpay from FIS said that there needs to be a change in the narrative on payments, as they are a strategic lever that can help accelerate growth for merchants. Per their statement, Worldpay’s solution combines the company’s extensive payment expertise and the scale of their payments data to help optimise merchants’ payment acceptance, adding that by decreasing costs and lifting approval rates, they can bring forth the ‘true value’ of payments to customers.

Worldpay from FIS offering and recent developments Per the press release information, Worldpay enables merchants no matter the size to take, make, and manage payments across channels, geographies, and industries. More than one million merchants worldwide leverage Worldpay solutions to power their in-store, online, and mobile transactions, fight fraud, optimise authentication, and access value-added services that improve commerce. What is more, Worldpay helps facilitate payouts to an extensive network of suppliers and beneficiaries around the world, having the capability to send money to approximately 225 markets in almost 146 countries.

As part of its development strategy, Worldpay from FIS made public two announcements in June centring payments. The most recent one was a partnership with Visa and HSBC UK, which sought to enable FIS UK-based merchants to incorporate Visa instalments at checkout. Prior to this news, the company announced a separate collaboration with payment gateway Volt with the aim of providing merchants with the ability to receive payments from consumers by leveraging Open Banking.

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