Global payments solution provider, Checkout.com, has launched a new feature called Intelligent Acceptance. The system uses an AI-powered optimization engine that can monitor billions of transactional data points, with early beta testing showing a 9.5% average improvement in checkout acceptance rates.
“We believe in abstracting complexity for businesses and empowering them to optimize their payments with ease. Machine learning enables us to […] leverage our expansive global transaction data to provide real-time insights. Meanwhile, an adaptive AI-powered payments engine constantly optimizes acceptance rates, unlocking more revenue, saving time, and offering greater cost controls,” says Meron Colbeci, Chief Product Officer at Checkout.com.
False declines — legitimate transactions mistaken for fraud attempts and subsequently blocked — are a $50.7 billion problem globally. Intelligent Acceptance can route card payments through the system much more smoothly, using continuous adaptation while leveraging Checkout.com’s global network and direct relationships with card acquirers to deliver incremental improvements.
Intelligent Acceptance can also drive down a merchant’s costs by dynamically routing transactions to the network with the lowest fees. Furthermore, if a transaction requires 3DS authentication, data can be automatically added to a payment request to ensure compliance.
The launch of Intelligent Acceptance comes as business leaders seek new ways to drive revenue and improve cost efficiencies to reconcile increased expenses. Research conducted by Checkout.com in partnership with Oxford Economics recently revealed that up to 25% of consumers abandoned an online purchase due to too much checkout friction, resulting in significant lost revenue for merchants.
UAE’s du Teams With Huawei For Net-Zero Telecom Services
The telecommunications company aims to promote sustainable development across the region.
du, one of the UAE’s major telecom providers, is boosting its efforts to help the Emirate towards a low-carbon future. The company aims to upgrade its diesel generator sites in remote communities and has ambitious plans to achieve net zero in collaboration with Chinese tech giant Huawei.
The primary goal for du is to reduce reliance on diesel generators, which in turn will cut down on maintenance costs and lower fuel consumption. Over 300 remote sites will be upgraded to advanced hybrid power solutions, lowering the company’s carbon footprint while improving efficiency and network coverage. Huawei’s hybrid generators include state-of-the-art lithium batteries and will reduce carbon emissions by over 10,000 tons – the equivalent of planting 500,000 trees per year.
“This initiative not only lowers our carbon footprint but also ensures the delivery of more eco-friendly and sustainable services to communities in even the most remote desert regions,” explained Saleem AlBlooshi, chief technology officer at du. “Our unwavering commitment to environmental responsibility reflects our determination to contribute to a greener and more sustainable future for all”.