Paybis Scales Up with BridgerPay’s Payment Operations Platform

Introduction

Paybis is a leading cryptocurrency exchange platform that offers a seamless and secure solution for buying, selling, storing, sending, and swapping digital assets. With a global reach, supporting over 90 cryptocurrencies in more than 180 countries, and serving over 4 million users, Paybis focuses on enhancing user and business experiences through robust crypto on/off ramp service. However, managing payments in-house presented notable challenges for Paybis. This case study explores how BridgerPay's payment operations platform helped Paybis overcome these challenges and drive expansion into new markets.

Challenge

Before partnering with BridgerPay, Paybis managed payments entirely in-house, utilizing a system of multiple payment service providers (PSPs). While this approach allowed for a high level of customization and control, it also imposed several challenges. Transaction decline rates for credit/debit card payments were a major pain point, negatively impacting their authorization rates and overall revenue. Additionally, without a transaction retry option, once a payment was rejected by one processor, there was no opportunity to retry with another. The in-house system also offered a limited range of local payment methods, restricting their ability to cater to diverse regional preferences.

"Managing payments in-house gave us control but was a significant burden on our IT team. High transaction decline rates and lack of retry options were major pain points. Features like 3D Secure agnostic and Payment Cascading have greatly improved our payment performance and operational efficiency" says Innokenty Isers, CEO of Paybis.

Solution

Recognizing the need for more efficient payment processes, Paybis chose to partner with BridgerPay. BridgerPay's competitive pricing and efficient integration processes made them the ideal partner. BridgerPay's platform simplified the management of multiple payment providers through a single interface, significantly increasing Paybis's approval rates and operational efficiency. The platform's Bridger Retry™ and 3D Secure agnostic solutions were instrumental in improving transaction approval rates, while the smart routing feature allowed for optimized transaction paths based on various factors.

Impact

The implementation of BridgerPay's payment operations platform brought numerous advantages to Paybis. The unique features like 3D Secure agnostic and Bridger Retry™instantly improved payment performance, streamlined operations, and boosted overall efficiency. Integrations that previously took months to roll out are now completed within three weeks, freeing up development resources for other critical projects.

BridgerPay also played a crucial role in Paybis's expansion strategy. By assisting in the integration of local payment methods, BridgerPay significantly enhanced Paybis's ability to serve diverse markets, particularly in LATAM and Asia. The streamlined purchase flow and customized error handling mechanisms provided by BridgerPay improved the user experience, making transactions smoother and more user-friendly.

Key Metrics and Improvements

The partnership with BridgerPay led to significant improvements in key metrics for Paybis. The quick integration processes saved time and resources, while the optimized payment routes and new PSP integrations contributed to substantial gains. Specifically, BridgerPay's solutions rescued 15% of transactions through Bridger Retry™, increased the approval rate by 10% as Paybis expanded into new regions, and boosted revenue by 12% by optimizing payment routes to save on processing fees. Additionally, the Bridger Agnostic 3D solution further improved approval rates by 15%, leading to a smoother and more user-friendly payment experience for Paybis's customers.

"BridgerPay reduced our integration time from several months to just three weeks, freeing up our development resources. This efficiency has contributed to significant growth in the LATAM region and improved our transaction approval rates. BridgerPay's comprehensive solutions have optimized our payment processes, driving our overall growth and success," says Innokenty Isers, CEO of Paybis.

Future Outlook

Looking ahead, Paybis is excited to continue their partnership with BridgerPay as they aim to introduce new products and expand their services to wider audiences. BridgerPay's comprehensive solutions and support will be instrumental in achieving these goals.

Conclusion

The collaboration between BridgerPay and Paybis exemplifies how a robust payment operations platform can transform payment processes, enhance operational efficiency, and drive business growth. BridgerPay’s innovative solutions have empowered Paybis to overcome industry challenges and achieve significant expansion, positioning them for continued success in the global market.

This case study highlights the transformative impact of BridgerPay’s payment operations platform on Paybis, showcasing the benefits of streamlined payment processes, increased approval rates, operational efficiency, and enhanced user experience.