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Blockchain Press Releases

Checkout.com launches Intelligent Acceptance, an AI-powered optimization engine that boosts acceptance rates and increases merchant revenue

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  • Intelligent Acceptance leverages Checkout.com’s global data network and deep domain expertise to increase acceptance rates, lower transaction fees and operational complexity
  • False declines are a critical issue for online businesses globally, costing them $51 billion in 2022, a 150% increase in three years
  • Early users include Klarna, Ant Group, NordVPN, Reach and Sunday. These businesses reported average increases in acceptance rates that unlocked three-quarters of a billion dollars of revenue in beta alone

LONDON, June 27, 2023 /PRNewswire/ — Checkout.com, the global payments solution provider, today launches Intelligent Acceptance, its latest product to help merchants optimise acceptance rates and grow revenues.

Intelligent Acceptance is an AI-powered optimization engine, trained on billions of transactional data points from Checkout.com’s global network and insights from the business’ domain expertise after a decade at the forefront of the digital economy. The new product has so far achieved meaningful results for merchants during beta testing, enabling transactions that created c.$750 million of new revenue, and increasing the acceptance rates by up to 9.5 percentage points for over 30 merchants including the likes of Klarna, Ant Group, NordVPN, Reach and Sunday.

“Since going live with Intelligent Acceptance, the authorization rate of payments processed on Checkout.com’s rails has increased by nearly 10%. In a game where small improvements drive big impact, this performance improvement is colossal for our business and, crucially, for our client’s bottom line”, said Melissa Pottenger, Head of Key Partnerships at Reach.

“We fundamentally believe in abstracting complexity for businesses and empowering them to optimise their payments with ease. Machine learning enables us to offer this to our merchants for the first time at scale. Merchants alone lack sufficient data to effectively train an AI algorithm, whereas we can leverage our expansive global transaction data to provide real-time insights. That’s why we’ve built an adaptive AI-powered payments engine to constantly optimise acceptance rates – unlocking more revenue, saving merchants time and offering greater cost controls”, said Meron Colbeci, Chief Product Officer at Checkout.com.

Using machine learning and billions of data points to create a solution for businesses

Intelligent Acceptance optimises across the complete payment flow, including pre-processing aspects like messaging & routing and post-processing with adaptive retries. Merchants also have complete control over which stage of the transaction journey is improved and the criteria that Intelligent Acceptance optimises for, including; maximising acceptance rates, lowering transaction costs, or both. Through continuous live adjustments, learning from performance data across Checkout.com’s global network and direct relationships with issuers, schemes and regulators, Intelligent Acceptance continually unlocks new optimizations to deliver incremental performance improvements.

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Optimization examples

  • Acceptance: Network Tokens can offer better acceptance rates, lower interchange fees and a more secure way to share card information. However, not all issuers adopt this credential-sharing method at the same time. Intelligent Acceptance only utilises Network Tokens if the issuer supports them and the predicted cost is lower, or chance of success is higher, than PAN credentials. Additionally, Intelligent Acceptance will automatically format, amend or add SCA, ISO data and more to ensure payments are formatted to scheme and issuer’s preferences.
  • Cost: Intelligent acceptance can also be used to drive down costs by dynamically routing transactions to the network with the lowest fees, in markets where multiple debit, local or global payment networks are available – such as the US.
  • Compliance: Intelligent Acceptance instantly identifies if a transaction requires 3DS authentication, and if it has not been triggered in the initial payment request, available 3DS authentication data is automatically added to the payment request to ensure the transaction is compliant.

“Klarna benefits from the improved authorization rates thanks to the adjustments made in the background, which would otherwise result in lost volume. On top of that, Intelligence Acceptance helps to minimise extra payment costs applied by schemes due to the same transaction being processed in a manner which does not fit in issuer preference. Improved acceptance rate resulting in better customer experience, and reduced payment fees are main benefits of the tool”, said Tomer Turbovich, Senior Engineering Manager & Money Movements account group lead at Klarna, a leading online payments provider.

False declines are a $50.7 billion problem for businesses

The launch comes at a time when business leaders seek to drive new revenue and make cost efficiencies across their businesses to reconcile increased operating expenses. Intelligent Acceptance can reduce the number of incorrectly declined transactions through continuous testing, but can be configured to lower transaction fees and reduce operational overheads. Research conducted by Checkout.com alongside Oxford Economics found that $50.7 billion was lost in 2022 due to false declines, where a customer with enough funds in their account has a purchase declined. As a result, close to 25%[1] of consumers abandoned a purchase due to too much friction, resulting in significant lost revenue for merchants.

“Any friction in the payment process can have a detrimental impact on the adoption of the products we offer as we reimagine the consumer experience inside a restaurant. Reducing the likelihood of an early adopting customer having a bad first impression of Sunday is paramount to our success – Checkout.com is reducing the likelihood of this happening”, said Daniel Hosking, VP of Payments at Sunday.

Intelligent Acceptance is the latest solution from Checkout.com’s Payments Plus offering. It follows on from recent launches of Authentication enhancements, customisable virtual and physical cards with Issuing, Fraud Detection Pro to help merchants combat fraud and optimise their revenues and Integrated Platforms, a fully flexible solution to support marketplaces and payfacs in an evolving digital economy.

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To learn more about Checkout.com Intelligent Acceptance, visit our website.

  • Read the full Klarna, Reach and Sunday case studies here.
  • Intelligent Acceptance is now available for all merchants globally.

About Checkout.com

Checkout.com is a global payments solution provider that helps businesses and their communities thrive in the digital economy. Purpose-built with performance, scalability and speed in mind, its modular payments platform is ideal for enterprise businesses looking to seamlessly integrate better payment solutions. Checkout.com is trusted by global businesses like Sony, Wise, GE Healthcare and Shein. With a global team spread across 19 offices worldwide, it offers innovative solutions that flex to your needs, valuable insights that help you get smart about your payments’ performance, and expertise you can count on as you navigate the complexities of an ever-shifting world. Find out more at www.checkout.com.

[1] EU Strong Customer Authentication (SCA) Mandate Won’t Eliminate Fraud or Need for Fraud Detection, Payments Journal

View original content:https://www.prnewswire.co.uk/news-releases/checkoutcom-launches-intelligent-acceptance-an-ai-powered-optimization-engine-that-boosts-acceptance-rates-and-increases-merchant-revenue-301863475.html

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Blockchain Press Releases

Animoca-backed Upland’s SPARKLET Token Lists Exclusively on Bitget Launchpool

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VICTORIA, Seychelles, July 23, 2024 /PRNewswire/ — Bitget, the leading cryptocurrency exchange and Web3 company, announced the exclusive listing of Upland’s first-ever tradable token SPARKLET on the Bitget Launchpool.

The one-of-its-kind metaverse project will launch its token generation event (TGE) in collaboration with Bitget, allowing the platform’s users to have priority access for the awaited token. The farming for SPARKLET will start at 13:00 (UTC), on 24th July and end on 1st August 2024. With this, users can stake Bitget Token (BGB) to earn a total prize pool of 7,000,000 SPARKLET tokens. The SPARKLET/USDT pair will be listed on Bitget Spot market, with trading service starting at the same time as Launchpool.

This news comes right after the partnership announcement between Bitget and Upland, which includes building the exchange’s virtual headquarters in the metaverse. As part of this initiative, Bitget has purchased Treasure Island, the last unminted neighborhood in Upland’s San Francisco which houses 888 properties.

Built in 2019, Upland stands as one of the most widely-used web3 platforms, with 30,000+ daily active players, 300,000 unique land owners, and over 6,000,000 NFT sales. Upland has transformed into a Layer 1 metaverse, delivering the foundational infrastructure of an open, immersive web, including identity, liquidity, currency, land, no-code NFT creation, fiat on/off ramps, and governance.

“The initiative directs Upland’s strong stance towards decentralization, allowing Spark holders to trade Sparklet in liquid markets. It also aims to boost Upland’s presence and credibility in the Web3 industry by listing on top-tier exchanges such as Bitget, attracting more users and enhancing the platform’s network effects,” says Dirk Lueth, CEO at Upland.

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Spark as the native utility token, fueled all value creation in Upland. It is the resource required for world-building, joint community projects, no-code NFT minting, and “manufacturing” of 3D map NFTs such as cars or decor items and more. The SPARKLET token is one-thousandth of a SPARK. In May 2024, Upland users were airdropped Sparks, which now has been migrated to SPARKLET tokens on Ethereum.

“At Bitget, our support for crypto gems goes beyond a simple listing. We are dedicated to helping promising projects gain more visibility, users, and partners through our Launchpool, Launchpad, and various educational and reward initiatives. Our collaboration with Upland to create a Bitget-themed metaverse is a mutually beneficial and exciting endeavor. We aim to become the top choice for more emerging projects in the future, aiding them in creating a greater real-life impact,” says Gracy Chen, CEO at Bitget.

The exclusive listing of SPARKLET on Bitget’s launchpool provides its users with early access to Upland’s first-ever tradable token. This also allows Upland’s current users to use their SPARKLET airdrops for further trading on a sophisticated platform such as Bitget. Previously, Bitget’s launchpool listed high potential projects such as Merlin Chain (MERL), Ethena (ENA), ZetaChain (ZETA) and more.

To participate, users can visit SPARKLET launchpool on Bitget, enter preferred staking amount and earn tokens within a few clicks.

For more information on getting exclusive access to SPARKLET tokens, please visit here.

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About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

Photo – https://mma.prnewswire.com/media/2467110/Animoca_backed_Upland_s_SPARKLET_Token_Lists_Exclusively_Bitget_Launchpool.jpg

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Blockchain

YOM expands its cloud gaming DePIN from Solana to peaq to run its NFT node sale

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peaq, the layer-1 blockchain for DePIN and Machine RWAs, announces the expansion of its ecosystem as YOM, the cloud gaming and interactive experience DePIN, unveils its plan to expand to peaq from Solana. YOM enables gamers to earn crypto from their advanced rigs by lending their idle computational power to its DePIN. As the first step toward integrating peaq, YOM will launch its recently-unveiled Genesis Series as the first NFT Node Mint on the peaq blockchain. It will also explore further venues for more collaborations and integrations in the future.

Projected to grow to $312 billion in total revenue by 2027, the video game industry is a powerhouse in the wider entertainment segment, leaving both Hollywood and the music industry far behind. Cloud gaming services, which stream games to the user’s devices such as a smart TV or even a smartphone, are a promising sector in this industry, as they deliver AAA-tier gaming experiences without having to purchase a high-end PC or a console. However, in Web2, such services have to rely on massive data centers, which invokes environmental concerns and further strains the GPU market amid soaring demand from the AI industry. Besides, such data centers are costly to build and operate and often struggle to deliver the content at a comfortable latency.

YOM changes the game by ditching Web2 data centers. Instead, it taps idle personal gaming rigs, leveraging their powerful hardware to remotely run games and interactive experiences and stream them to any devices via their web browsers. The rigs’ owners earn rewards in crypto for every game hour they stream. YOM’s platform currently supports Unreal Engine 5 — one of the industry’s most popular options both among AAA studios and indie developers. The DePIN makes for a more sustainable approach to cloud gaming, with lower hosting costs and low latency, all while enabling gamers to earn revenue from their advanced hardware.

YOM’s strategic integration of peaq will begin with a node sale, where the community will be able to buy YOM’s Genesis Node Licenses as NFTs minted on peaq. The NFTs will be necessary to join YOM’s DePIN as a node. Full details, including the dates and the eligibility criteria, can be found on the YOM site. The mechanism for the node sale will-be open-sourced, enabling other DePINs building on peaq to conduct similar events. After the node sale, YOM is excited to explore more prospective directions for the integration into the peaq ecosystem.

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“We are very excited to be working with a Layer-1 chain that has the ability to support us and other DePIN projects on both the ecosystem and technical front,” remarks Jeff Outlaw, CXO at YOM. “Their support frees up the time for our tech team to work on the cloud gaming network. We are working to bring AAA games and immersive experiences to a wider top-of-funnel market as fast as possible, and building with peaq means we can skip a few crucial steps by leveraging its Modular DePIN Functions. All of our focus is now on bringing games to gamers!”

“The gaming industry is a staple of today’s digital entertainment market,” says Leonard Dorlöchter, co-founder of peaq. “Web3 has already tried to take it on with play-to-earn games, but YOM’s approach is a lot more creative — and it truly gives gamers ownership over something they’re so passionate about while earning rewards from their expensive rigs. We are thrilled to see YOM join the peaq ecosystem and look forward to the change it brings about in the gaming world, working as the true Web3 gateway for the mainstream gaming community.”

YOM is the second DePIN to expand to peaq from Solana even before the former’s mainnet launch, which is slated to take place in the coming months. In April this year, MapMetrics, another project originally based on Solana, unveiled its plan to migrate to peaq after the initial announcement of a more limited integration. Also in April, dTelecom, originally building on Arbitrum, announced joining peaq as well.

The post YOM expands its cloud gaming DePIN from Solana to peaq to run its NFT node sale appeared first on HIPTHER Alerts.

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Blockchain Press Releases

Buy and Sell Crypto on X! Bybit Web3 Supports Solana Blinks

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DUBAI, UAE, July 23, 2024 /PRNewswire/ — Bybit, the world’s second-largest web3 platform by trading volume, continues to enhance user convenience and accessibility by integrating Solana Blinks into its Web3 ecosystem. This integration reflects Bybit Web3’s commitment to simplifying user access and enhancing the convenience of engaging with cryptocurrencies.

Bridging the Gap Between Web2 and Web3

Bybit Web3’s support for Blinks eliminates the friction between their Web2 environments and the exciting possibilities of Web3. Users can now seamlessly interact with the decentralized world, purchasing tokens or NFTs directly on X and effortlessly confirming transactions with their Bybit Web3 Wallet extension. This integration simplifies crypto engagement and opens the doors for a wider audience to participate in the future of finance.

“We are thrilled to support Blinks, bringing a new level of simplicity and convenience to our users. This integration allows us to bridge the gap between Web2 social platforms and the burgeoning Web3 ecosystem, empowering users to engage with crypto assets seamlessly,” said MK Chin, Bybit Web3 Evangelist.

Key Highlights of the Integration:

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  • Seamless Web3 Access: Users can now perform crypto transactions directly on X, bridging the gap between Web2 and Web3 environments.
  • Enhanced User Convenience: Bybit Web3’s support for BLINKS ensures a smooth and intuitive experience, allowing users to trade and manage crypto assets effortlessly.
  • Expanded Web3 Possibilities: This integration empowers users to share token purchases, airdrop campaigns, and more on social media, as well as complete trades and participate in campaigns directly within social media platforms like X.

A Shared Vision for a User-Friendly Web3 Future

We are excited to collaborate with Bybit Web3, who shares our vision of making Web3 accessible to end users. By supporting seamless access through popular social platforms such as X and across the internet, we are breaking down barriers and simplifying the entry into the Web3 ecosystem. This partnership exemplifies our commitment to innovation and inclusivity, ensuring that users can effortlessly engage with the future of finance and digital interactions,” added  Lily Liu, the President of Solana Foundation

For more information, please visit: https://www.bybit.com/en/web3/home

#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 10 million wallet users, over 20 major ecosystem partners, and counting. 

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Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 33 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

For more details about Bybit, please visit Bybit Web3.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 37 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

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For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

Logo – https://mma.prnewswire.com/media/2311075/Bybit_Web3_Logo.jpg 

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