7 Tips to make the most out of your payment stack
Payment orchestration platforms have become the go-to solutions for businesses looking to optimize their payment performance. The following tips show how you can utilize ZOOZ’s unique solution-features to optimize the way you extract information, find payments, or make alterations to, or within your stack— easily. The small tweaks and changes affect transaction approval rates, and should therefore be added to your arsenal for ongoing payment optimization and ease of operation.
Webhooks are designed to alert and give you updates about your stack, but webhooks can be used for more than mere updates. They can also be integrated into your invoicing system, for example, to make the lifecycle of payments more streamlined. Learn more about webhooks here.
Inspecting specific payments in your system is sometimes necessary, and thanks to the ZOOZ elastic search options, payment professionals can easily narrow down payments by using the ready-made design fields or by specific search shortcuts e.g. “amount:123” to find payments according to specific identifications or search with an asterisk (*) to find payments with partial email addresses, reconciliation ID, order ID and more (e.g., “123*” to find “12345”).
Reports can be created as complex or as simple as you wish, but it’s important to be aware that there are always to extract more information from your reports and make them richer and more valuable for your BI. Adding additional fields to your reports can give you a better view of your payment’s performance whether you wish to know your provider performance, payment method used, or performance according to geographical location. All of these components add up and affect your approval rates, and should therefore be taken into account in the larger scheme of your payment operation.
After extracting insights from your payments thanks to the aforementioned reporting tools, the next step is to implement these insights into your actual payment performance. To do that, you have the ZOOZ decision engine. With more than 150 different configurations, every business need can be met with ease. Configurations can be based on card issuing country, target-provider, and even the time of day in which the transaction took place. Open a free demo account today to try the routing engine by yourself!
Save up to 10% of failed transactions! The Instant Retry feature, a unique ZOOZ ability, allows you to process failed transactions with a backup payment provider, to significantly increase the rate of successful transactions.
Occasionally you may need to avoid undesired or harmful financial traffic by setting pre-defined conditions to block payments. The ZOOZ platform allows you to easily do so via the Decision Engine -> Block Rules feature. Transactions can blocked according to specific transaction-indicators, card properties, transaction amount, or other customized features.
Optimization starts with the flexibility to route payments. The ZOOZ decision engine allows easy payment routing that’s powerful, simple and intuitive interface that allows you to A/B test your providers’ performance, assessing where they perform best, and route them optimally. Making changes is easy, and our businesses track and adjust their routing configuration as much as they wish, and even several times a day, as their performance is impacted immediately
For additional tips and tricks, you can always consult our support knowledge-base for frequently asked questions, tools and hacks to make the most of your payments. Check it out here.