Mastercard unveils platform to boost payment approval rates

Editorial

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Adyen, Neopay, Tap Payments and Worldpay have signed up to use POP, which Mastercard claims shows a nine per cent to 15% increase in conversions in early pilots.

The platform evaluates over a trillion combinations of various data elements to create the most optimal authorisation in near real-time and delivers insights to help increase approvals.

Models are constantly learning and trained on the latest transaction attributes and authorisation trends to continuously optimise payments. This, says Mastercard, leads to a frictionless consumer experience and helps drives incremental conversions for merchants.

Sumeet Bhatt, SVP, payment optimisation, Mastercard, says: “The Payment Optimisation Platform is a game-changer – it provides our acceptance community partners with tools and intelligence to deliver the best payment experience and drive higher conversions.”