Provider of multi-asset financial products Equiti Group has reported a 30% increase in global deposit approvals, as a ratio year to date; 10% – 20% above the industry norm.
Quick approval ratios have helped traders take advantage of massive market volatility and trading opportunities in recent months.
Gareth Bateman, global head of payments at Equiti Group, said: “The significant increase in Equiti’s approval ratios in 2020 is due to the adoption of BridgerPay’s Retry technology, which decreased cart abandonment rate and increased the approval ratio with the rescue of failed transactions.”
The BridgerPay Retry feature automatically retries a transaction with a wide range of payment providers that support multiple acquirers.
Other major benefits of partnering with BridgerPay, a global payment provider, have been the rapid integration of local payment service providers (PSPs) into Equiti’s system, and the introduction of an extensive range of alternative payment options such as e-wallets, credit and debit cards, mobile money, Equiti branded pre-paid cards, and online payments.
BridgerPay’s expansive knowledge and expertise in global payment solutions, and existing relationships with hundreds of local payment service providers, has expedited Equiti’s global growth, especially in new and developing markets such as Latin America, East Africa and South East Asia.
Equiti is now one of the first industry players to offer over 100 payment solutions in the Latin America region and is now able to offer the preferred payment method for each trader in this region. In addition, over 30 payment solutions have been added in South East Asia.
Ran Cohen, CEO and Founder of BridgerPay said:
“It is a real pleasure to work with a team of professionals who have only one outcome for their vision: success.
“Once we learned the business needs, our mission with Equiti was to perfect the payment experience, connect the perfect mix of payment providers for both local and global solutions, and have the ability to optimise them. We are proud to see real growth in all of Equiti’s metrics; from rescued transactions, increased approval ratios to total processed volume, even more so given the disruption of workflow during the COVID-19 pandemic. We are delighted to have Equiti as a flagship client.”
BridgerPay was the only technology provider able to deliver a unique customised technology solution that integrates into Equiti’s system and supports its rapid global growth in new and existing markets.