TL;DR: Primer, a unified infrastructure for global payments and commerce, has introduced UpliftAI, an innovative AI payments tool. This technology empowers online merchants to forecast, optimize, and achieve the highest authorization rates across various global processors, thereby driving revenue growth. By leveraging vast amounts of payment data, UpliftAI automates the selection of payment processors with the highest authorization rates, enabling businesses to focus on growth and enhancing customer experiences. Primer’s unique access to extensive payment data across diverse methods and processors allows merchants to attain significant performance gains upon activating UpliftAI, with some industries already experiencing up to a 5% increase in authorization rates.
Primer Pioneers UpliftAI: A Breakthrough in Payment Optimization
Primer, the groundbreaking unified infrastructure for global payments and commerce, has unveiled UpliftAI, an AI-driven payments tool set to revolutionize online merchant transactions. With a focus on predicting and optimizing authorization rates, UpliftAI addresses the challenges faced by payment teams dealing with surging transaction volumes and a growing array of processors.
Streamlined Payment Processing with UpliftAI
In a landscape inundated with data and countless hours spent on payment tracking and analysis, UpliftAI steps in to streamline the process. By harnessing billions of payment data points, it automatically selects payment processors with the highest authorization rates. This empowers businesses to reallocate resources towards new growth opportunities and refining customer experiences.
Maximizing Performance through Multifaceted Data
As the first unified payments infrastructure, Primer possesses unparalleled access to vast data points encompassing numerous payment methods, services, and processors. Leveraging AI and machine learning models, Primer equips merchants with a multi-processor approach, facilitating a substantial uplift in performance as soon as UpliftAI is activated. Early results in sectors like retail and travel demonstrate an impressive authorization rate increase of up to 5%.
Gabriel Le Roux on the Significance of UpliftAI
Co-Founder of Primer, Gabriel Le Roux, emphasizes the transformative impact of UpliftAI for global online businesses. With the potential for authorization uplifts of up to 5%, Le Roux underscores how this can significantly bolster the bottom line for customers with a simple activation.
Addressing a Global Economic Challenge
A study by LexisNexis Risk Solutions highlights that failed payments incurred an estimated USD $118.5 billion in costs to the global economy in 2020. UpliftAI delves deep into a merchant’s chosen payment providers, identifying the optimal processor across markets, ensuring the highest possible payment success, regardless of location or currency.
A Glimpse into the Future
Le Roux envisions UpliftAI as just the beginning of AI’s transformative role in payments. He anticipates a future where AI guides businesses across the entire customer journey, optimizing areas like fraud protection, communications, shipping, and customer loyalty. This innovation heralds a new era in payment efficiency and customer satisfaction.