SAN FRANCISCO--(BUSINESS WIRE)--sticky.io, a leading provider of subscription management and recurring billing solutions, is thrilled to announce its partnership with FlexCharge, a pioneer in ecommerce payment decline management. This strategic alliance aims to tackle a pressing issue faced by ecommerce merchants today — the staggering rate of cart abandonment and lost revenue due to payment failures.
Research shows that online merchants lose 62% of customers who experience a failed transaction. This not only results in a negative customer experience but also poses a significant risk of losing those customers to competitors. The financial implications of payment declines are profound, with losses estimated at roughly $600 billion each year when factoring in lost sales, customer acquisition costs and diminished customer lifetime value.
To address this critical challenge, sticky.io and FlexCharge have joined forces to provide an innovative solution that promises to transform the ecommerce landscape. Instead of displaying a payment failure message when a customer's chosen payment method encounters an issue, the combined solution seamlessly enables customers to complete their purchases.
“We’re thrilled to demonstrate how merchants can innovate and boost profitability, even amid growing industry challenges, regulations and compliance requirements. We’ve seen firsthand on our platform that decline rates are soaring, and this collaboration with FlexCharge is a game-changer, rescuing hundreds of millions in revenue for our valued merchants,” said sticky.io President and CEO Brian Bogosian.
FlexCharge's groundbreaking AI technology can handle payment declines for all reasons, not just fraud-related reason codes, such as insufficient funds or credit availability. If a payment is declined, the transaction is sent to FlexCharge in real-time to assess and determine eligibility for approval within milliseconds — with little to no customer interaction required.
The net result of this partnership is a significant boost in approval rates, an increase in sales and enhanced customer retention for ecommerce merchants. With no checkout changes, redirects or registrations required, the sticky.io and FlexCharge solution offers a frictionless experience that sets it apart from other offerings in the market. As leaders in their respective fields, both companies are committed to helping ecommerce businesses thrive in today's competitive landscape.
“We couldn’t be more excited to partner with sticky.io, a company renowned for its expertise and excellence in the industry. Together with Brian and the exceptional team at sticky.io, we are committed to providing our clients the necessary tools to fuel business growth,” said Ze’ev Shoval, CCO and Co-Founder of FlexCharge.
For more information about sticky.io and FlexCharge's payment decline management solution, please schedule a consultation with our experts.
sticky.io is a performance-driven commerce platform specializing in recurring billing and subscription management solutions for direct-to-consumer merchants. Our API-first solutions and subscription apps empower online businesses to efficiently manage offers, subscriptions, payments orchestration and customer data to optimize business operations. Supporting 71 million subscriptions and processing more than $7 billion in transactions annually, sticky.io is built to maximize recurring revenue. To learn more, visit www.sticky.io.
FlexCharge is an innovative AI-driven, payment decline management platform at the forefront of addressing the persistent challenges in digital commerce payments. We collaborate closely with merchants and payment providers, offering a seamless and real-time solution to tackle declined customer transactions. Our mission is to empower businesses to recover lost revenue, enhance customer experiences and optimize their payment processes. With a dedicated team of experts in quantitative analytics, risk management and payments, FlexCharge is committed to revolutionizing the way businesses navigate the complex landscape of digital payments. To learn more, visit www.flex-charge.com.