In today’s rapidly evolving e-commerce landscape, merchants face numerous challenges related to payment processing. Failed transactions, limited payment options, and lack of innovation can hinder growth and customer satisfaction. However, by leveraging payment orchestration through Gr4vy, Magento merchants can overcome these hurdles and empower their payment infrastructure with advanced capabilities and enhanced control.
Gr4vy is a powerful payment orchestration platform that simplifies building and managing payment ecosystems for merchants. With a single integration, merchants gain access to unlimited payment providers, methods, and risk services worldwide. Gr4vy’s cloud-native Infrastructure-as-a-Service (IaaS) platform offers a universal API, extensive checkout components, and customizable checkout experiences. This blog will explore the key features and benefits of Gr4vy, highlighting its impact on Magento merchants.
Eliminating Failed Transactions
One of the major frustrations for merchants is the occurrence of failed transactions. With Gr4vy, you can bid farewell to this issue. The solution enables automatic retries and conversion of declined transactions using optimization logic, ensuring higher success rates. Additionally, by leveraging a modern tech stack and overcoming the limitations of current payment service providers (PSPs)/acquirers, Gr4vy optimizes transaction routing, minimizing declines and errors.
Single Integration with Unlimited Providers
Gr4vy’s low-code API allows merchants to integrate once and gain access to a multitude of payment providers. Regardless of how many providers a merchant wishes to work with, they only need to manage one integration with Gr4vy. This streamlined integration process saves time and effort for development teams. Additionally, merchants can enable new services with a simple switch, eliminating the need for additional integration. Gr4vy’s single integration empowers merchants to optimize their payment stack and scale their business efficiently.
Secure and Compliant
Gr4vy prioritizes data security and compliance. It is PCI DSS Level 1 compliant and SOC2 Type 2 certified, ensuring the highest level of protection for customer data. Gr4vy supports GDPR, CCPA, Australian Privacy Law Standards, and other local data regulations, acting as the data processor while giving merchants control over their data. Secure Fields, a hosted element, allows merchants to collect and store card details at any point in the user journey while keeping sensitive data safe. Gr4vy’s commitment to security and compliance gives merchants peace of mind when handling payment information.
Unmatched Redundancy and Data Protection
The platform offers a single-tenancy cloud solution that grants you control over your customer’s payment data. Unlike traditional setups, where you may be locked into a specific PSP, Gr4vy’s solution enables failover and redundancy, reducing the risk of downtime and disruptions. This approach safeguards your data from hacks and ransomware, protecting your business and customer information.
Localized Payment Connections
To increase conversion rates and drive profitability, Gr4vy enables merchants to offer local, alternative, and emerging payment methods. Whether customers prefer local cards, wallets, bank transfers, or cryptocurrencies, Gr4vy makes it easy to provide their preferred payment options. Merchants can add, test, and deploy new payment services effortlessly using Gr4vy’s no-code platform tools. Gr4vy maintains API changes, eliminating the need for merchants to worry about PSP updates or new releases. By offering localized payment connections, Gr4vy helps merchants cater to the payment preferences of their target markets.
Orchestrate the Payment Experience
Gr4vy empowers merchants to dynamically offer personalized checkout experiences and route payments to optimal service providers worldwide. Using real-time purchase data, merchants can determine the best payment options to display at checkout. Gr4vy’s no-code rules engine, Gr4vy Flow, allows merchants to create dynamic filters based on variables like country, cart, currency, or custom metadata. Payment orchestration increases conversion rates and drives profitability by personalizing payment methods for each customer. Merchants can control every part of the transaction lifecycle, reduce fraud and chargebacks, optimize processing fees, and access a wide range of payment methods.
Agility and Future-Proofing
Gr4vy ensures merchants can easily adapt to payment innovations, currency fluctuations, and evolving regulations. It provides access to new payment methods as they emerge and evolve with changing customer expectations. Merchants can future-proof their payment stack without needing to perform additional integration. Gr4vy’s cloud-native architecture allows for scalability and high availability, ensuring a seamless experience for both merchants and customers during peak traffic periods. With Gr4vy, merchants can focus on growing their business, confident that their payment infrastructure is agile and equipped to handle the demands of the evolving digital landscape.
Fraud Risk Mitigation and Regulatory Compliance:
Protecting your business and customers from fraud is of utmost importance. Gr4vy equips you with advanced fraud risk connectors and utilizes 3D Secure 2.0 technology to mitigate fraudulent activities. Additionally, it ensures regulatory compliance by adhering to industry standards and guidelines. With Gr4vy, you can rest easy knowing that your payments are secure, fraud risks are minimized, and your business is compliant with regulations.
Dynamic Checkout Experiences for Increased Conversions:
Innovation is essential for driving customer engagement and conversions. However, a lack of resources or budget constraints may hinder your ability to experiment with new payment methods and checkout experiences. Gr4vy solves this problem by allowing you to dynamically surface custom checkout experiences in real time. By tailoring the payment process to your customer’s preferences, you can significantly improve conversions and enhance the overall shopping experience.
Gr4vy Payments Orchestration in Magento simplifies the complexity of managing payments, offering a unified platform for integrating multiple payment providers. With its single integration, flexible options, security features, localized payment connections, and intelligent orchestration capabilities, Gr4vy empowers merchants to optimize their payment ecosystem, enhance customer experience, and drive business growth. Streamline your payment processes with Gr4vy and unlock new opportunities for success in the digital realm.
