7th September 2023, London, UK: Cashflows, the platform that makes it easy for merchants to accept payments, today announces an extension to its Visa partnership with Cybersource to amplify authorisation rates, support merchant and partner payouts, and enable international payment acceptance.
A single connection into Cybersource, which is part of Visa Acceptance Solutions, enables access to a community of partners and ecosystem of services, helping Cashflows to scale faster, increase reach and deliver an even better customer experience. The connection streamlines Instant Payouts – helping its customers better control cash flow and reducing manual processes for disbursements. A streamlined process means customers and payees get paid out quicker, which in turn, helps strengthen customer relationships.
Continuously looking for ways to meet the demands and needs of its merchant and partner community, the Cybersource agreement enables network tokens to help increase Cashflows’ merchant authorisation rates. Recognising the importance of lost revenue from card declines – which costs merchants 3%1 of their revenue each year – customer credentials are automatically updated and refreshed across channels, protecting card on file and recurring transactions.
Cashflows CEO, Hannah Fitzsimons, comments: “The European business community has remained resilient throughout various economic challenges. At Cashflows, we’re always looking for ways that we can support that resilience through our services. Our enhanced partnership with Visa’s Cybersource is a testament to that commitment, as we invest in protecting and enhancing payments and enabling merchants to offer international payment acceptance and refund abilities. Whether that’s improving authorisation rates or helping merchants to better serve their customers, we remain committed to supporting our partner and merchant customers. This is payments, perfected by people.”
All tokenised payments and Instant Payouts will feed directly into Cashflows’ Gateway, a platform that gives merchants access to all of their payments data and tools in a single interface. The new relationship with Cybersource enhances this Gateway by giving merchants a scheme agnostic unified payout and token experience, facilitating UK and European business expansion opportunities.
Jürgen Schübel, VP, Head of Europe Acceptance Solutions Sales at Visa, states:
“By extending our partnership with Cashflows, we are helping to accelerate their product development, shorten time-to-market for new solutions, and scale faster. All of this is possible by one connection to the Visa Acceptance Platform, which can help partners simplify payments infrastructure, while allowing them to maintain agnostic acceptance – so that they can create the payment experiences today's merchants and consumers demand.”
The rollout of Cybersource products and services will commence over the coming weeks, giving Cashflows customers and partners access to enhanced solutions to their payment needs.