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Today’s lesson in our series on the ABC’s of payment processing is one you won’t see in most educational materials on payments. For H, we’re talking about data ? harmonization ?. Harmonization refers to the process of combining data from multiple sources into a standard format for comparison or analysis. But what does this have to do with payments? ?? Everything. ?? If your business uses more than one payment service provider and accepts multiple payment methods and currencies (highly likely), and you want to perform a comprehensive payments data analysis (heavily advised), you need to harmonize your data before attempting any comparisons. Doing so requires a deep understanding of both payments and data to deal with the fact that PSPs often don't harmonize data fields across the many payment methods, networks, and countries your transactions represent. As such, they may use different data fields or naming conventions to express the same information! For example, we recently performed an analysis of decline codes across nine different PSPs and identified 127 different codes that all equate to "Do Not Honor" declines: - (05) Do not honor - (05) PAYMENT_NETWORK_REJECTED - (05) Autorizacao negada - (200) Do not honor, capture card - (124) Do not honour Instead of spending days (if not weeks) harmonizing all 127 decline codes into a single Do Not Honor category, you can rely on Pagos! Connect your PSPs to Pagos, and our payments data platform will ingest and harmonize all your payments data into a single, clean data feed automatically! Start your payments data analysis immediately without spending any time on the difficult—but extremely necessary—task of data harmonization.

How successful is your chargeback management strategy? What category of chargebacks do you put the most effort into fighting? Is it paying off? If you're not sure how to answer those questions, it's time to spend some time analyzing your chargeback win rate! With the introduction of a new chart in our data visualization platform, Pagos can give you the bird’s-eye view needed to win more disputes and achieve payments optimization. Dive into our latest blog post to learn more: https://lnkd.in/gPNa2TN9 #payments #chargebacks #paymentsoptimization

Next in our ABC's of payments processing is G for ?? Global Payments ?? ! If your business sells across multiple countries, you're probably juggling multiple payment processors—each with its own set of payments data. This can make it extremely difficult to see the big picture when it comes to purchasing trends. With Pagos, we ingest payment data from all your processors and aggregate it in one place, so you can spot trends across markets with ease. Having all your global transaction data at your fingertips means you can uncover patterns, like when customers in different regions prefer to shop. With Pagos' hourly data visualizations, you can even see exactly when in the day your customers around the world are most likely to make a purchase! The graph shown here, for example, demonstrates the distribution of your attempted transaction count per customer country, broken down by the hour—clearly demonstrating where customers are most active at any given time! Can you view your payments data at this level of granularity? If you're a global business, optimizing your payment strategy requires this degree of insight. Curious to learn more? Contact us today and start optimizing your global payments processes with Pagos! #globalpayments #paymentsdata #paymentsoptimization

With Pagos' no-code data ingestion, you can start your payments optimization journey ?? immediately ?? . Never give a single thought to how you aggregate and harmonize data across disparate processors—we've got you covered. https://lnkd.in/gyPbst76 #payments #paymentsoptimization

The letter F in our ?? ABC's of payments education series ?? could stand for nothing other than Fraud. You know it, you hate it, you can't expect to process payments without encountering it. Fraud is unfortunately an inevitable cost of doing business—and one that can really eat into your bottom line if you're not vigilant. Worst of all, fraud has expanded over the years beyond criminal parties with stolen cards; fraud now comes in so many forms, it can be hard to keep up. From customers disputing legitimate transactions they don't recognize on their bank statements (friendly fraud), to fraudsters requesting a refund and chargeback on the same transaction (double dipping), to false claims of products not arriving in pursuit of a refund (refund fraud), fraud is truly everywhere. If you're not sure where to start, here are some key strategies for combating fraud: ?? Build Custom Fraud Rules: Tailor your fraud rules with each payment processor or your fraud platform provider to detect and prevent fraudulent transactions effectively. By analyzing transaction data to identify patterns indicative of fraud (e.g. BIN values, issuing banks, issuing countries, and card types associated with fraudulent declines or chargebacks), you can configure rules to flag suspicious activities. ?? Pursue Real-time Fraud Detection: Proactive monitoring and detection of fraud attacks as they occur is essential to minimize losses and protect your business's reputation. If you don't find out about a fraud attack until the fraudulent chargebacks start rolling in, it's even harder to mitigate associated costs. ?? Optimize Your Chargeback Response: This is critical in reducing the financial impact of fraudulent transactions. By implementing efficient dispute resolution processes and providing compelling evidence to refute fraudulent claims, you can increase your chances of winning chargeback disputes and recovering lost revenue. Pagos has everything you need to pursue all these avenues. If you're ready to take a stand against fraud, contact us today! #payments #paymentseducation #paymentsdata

Visa is in the news this week with the Department of Justice filing an antitrust lawsuit against their debit card business. If this has you thinking about your own business's opportunity to save ???? by routing Visa Debit transactions through secondary debit networks, you might want to take a look at your data in Peacock by Pagos! In our Opportunities dashboard, you can see the total value of transactions you've processed that could have qualified for lower costs if you'd taken advantage of relatively new US debit routing regulations and routed them to an alternative debit network instead. With our filter options, you can even look specifically at only those transactions made with Visa debit cards! In this example, the merchant could have routed over $60M in Visa debit transactions to an alternative debit network in July alone. Now THAT'S quite the opportunity. If you've dreamt of some day seeing your payments data in this level of detail, you need Pagos. Contact us today to get started!

Would it benefit your business to benchmark approval rate? What could you learn from a data visualization directly comparing your company's approval rate over time to that of an anonymized industry cohort? Does this sound like something out of a dream? In our latest blog post, learn more about how Pagos is making direct benchmarking a reality: https://lnkd.in/gQVn3XUm

Next up in our ABC's of payments processing is the letter E, for Effective Rate! Effective rate is an essential metric for any business accepting payments, and it's all about knowing how much you're spending in ?? fees ?? compared to how much you're earning in sales. Put simply, your effective rate shows the percentage of your total sales revenue that goes toward covering payment processing fees. At Pagos, we calculate effective rate by dividing your total fees by your total processed sales—giving you a clear view of what percentage of your revenue is spent on the cost of accepting payments. But we don't stop at just showing you the big picture. With Peacock by Pagos, you can break down your effective rate by processor, payment method, card network, settlement currencies, and more, helping you pinpoint which segments might be eating into your profits the most. This granular view of your effective rate is key to making smarter, data-driven decisions. Whether it's negotiating better rates with processors or optimizing your mix of accepted payment methods, understanding these details can have a big impact on your bottom line. Traditionally, you'd be stuck pulling all your transaction and fee data into spreadsheets to calculate effective rates and filter for specific segments all on your own. With Pagos, you get it all at your fingertips. How are you currently tracking your effective rate? Let us know in the comments! And if you're ready for a more efficient way to monitor and optimize your payment costs, check out Peacock by Pagos today! #payments #paymentseducation #paymentsdata

Are you ready for the next lesson in our ?? ABC's ? of payments processing? Today's word is D for Declines! As you well know, not every transaction you attempt to process results in money in your pocket. Declines are inevitable, and happen when customers input the wrong payment method details, don't have enough money in their accounts, attempt a payment method you don't accept, are blocked by your or your processor's fraud rules, and many more reasons. A cardholder’s own issuing bank may even refuse to approve the transaction because they suspect fraud or the customer has reached their credit limit. ?? But just because you expect declines doesn't mean you can't avoid some of them!! Every decline comes with a ? decline reason code ? assigned by the processor, indicating why the transaction didn't go through as expected. Breaking down your declines by these decline codes is a great way to identify opportunities in your payments setup to address some of these failures. Maybe your fraud rules are too strict, maybe you need to talk to your processor about why certain card types are never resulting in successful transactions, or maybe you need to adjust your retry strategy. Sometimes just a small tweak to your processing strategy can result in hundreds if not thousands more approved transactions. If you're not currently analyzing your declined transaction data, it's time. Pagos has everything you need to view your decline data, aggregated across all your payment processors and broken down by decline reason codes. With just a few clicks, Pagos can have you identifying addressable decline issues and increasing your overall transaction approval rate. Reach out today to learn more! #payments #paymentprocessing #data #declines

Thank you Infinity Ventures for the Founder Spotlight on our high fliers, Klas B?ck & Albert Drouart. Check it out: https://lnkd.in/ghHaYumB