The Instant Retry feature – a ZOOZ unique ability – saves failed transactions by processing them via a different provider, immediately after an initial failure. The quick setup of the instant retry rule can be easily done via the ZOOZ decision engine.
The results? Businesses are able to optimize their acceptance rate while processing cross-border payments and— Turn failure into success while increasing their revenue passively.
The need for Instant Retry becomes paramount in optimization since it is one of the strongest tools that fight low approval rates. How so? Businesses who wish to expand to new territories often discover that in comparison to their local payments, their international, cross-border payments perform much differently—mostly because card issuers are more likely to approve transactions performed in the same geographical location as the issuing card country, then ones that are not.
While issuers try to play-on-the-safe-side, this is not always optimal for businesses, that aim to get maximal approval rate. That’s when Instant retry comes into play – it fights the initial failure by resending the transaction to a different provider of your choice, instantly. That action often results in success, and in the long run those saved transactions mount to millions of dollars which are then added to your bottom line. .