Checkout.com's AI Engine Drives $10 Billion Surge in Merchant Revenue - TECHx Media Checkout.com's AI Engine Boosts Merchant Revenue by $10 Billion
Checkout.com's AI Engine Drives $10 Billion Surge in Merchant Revenue
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Checkout.com, a global digital payments company, announced that its AI-driven Intelligent Acceptance product has generated over $10 billion in additional merchant revenue. The engine optimizes payment performance for enterprise businesses.
Powered by 20 billion+ data points, Intelligent Acceptance enhances payments through optimizations in messaging, routing, authentication, credential lifecycle, and retries. The AI engine learns in real time. Every successful optimization is instantly available to all merchants. This improves acceptance rates, reduces costs, and unlocks revenue.
Launched in June 2023, Intelligent Acceptance reached $5 billion in additional revenue within 15 months. In six months, it doubled this figure. It now generates $1 billion every 35 days for global brands like Vinted, Papa Johns, and Delivery Hero.
With over 60 million real-time optimizations daily, Checkout.com increased merchant acceptance rates by 3.8% last year. This reflects the platform's ability to improve payment outcomes consistently.
Rapid Growth in MENA
Checkout.com experienced rapid growth in MENA. Digital payment volumes surged by 658% between 2020 and 2023. This growth reflects the region's fast adoption of digital commerce and rising consumer preference for online shopping.
'Doubling merchant revenue at seven times last year's speed shows our network's growing power,' said Daniel Linder, Senior Product Director at Checkout.com. 'Our algorithms learn from billions of data points. Every transaction strengthens the network and improves performance.'
Checkout.com's focus on product innovation earned it recognition as a Strong Performer in The Forrester Wave™: Merchant Payment Providers Q1 2024. The company scored 5 out of 5 in payment performance optimization.
'Building a global payments infrastructure is complex,' Linder added. 'We aim to close the acceptance rate gap and ensure no revenue is left on the table.'
Enhancing Digital Experiences
Brands partnering with Checkout.com benefit from Intelligent Acceptance. Modestas Tursa, VP of Payments at Vinted, highlighted its impact. 'Delivering exceptional digital experiences is our mission. Our partnership with Checkout.com helps us achieve that.'
Checkout.com's Intelligent Acceptance drives payment optimization and significant revenue growth for businesses worldwide.
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