FlexPay is an enhanced payment gateway that uses AI -driven machine learning to help you minimize your credit card declines. It analyzes the data sent with each transaction and figures out the best time, transit route, and testing process to maximize your approval ratio. The FlexPay AI-driven machine learning is built with a statistical algorithm that is able to collect and analyze new information gained at every transaction.
Transactions are sent from your sales tool (CRM) into FlexPay. There are two methods of doing this; API post or batch file.
If the initial transaction is a soft decline (response received from the issuing bank upon sending a transaction approval request whereby the payment cannot be processed temporarily), the FlexPay internal algorithm will analyze the data sent and derive a next best date, time and gateway on which to process this transaction to obtain an approval.
FlexPay sends this information back to your sales tool, which will generate a new transaction on the assigned date and time and thus increase the potential of recovering a transaction which may otherwise have been lost.