Axerve at the IRX @ DTX+UCX Event in London: A Conversation with Spotify on Payment Orchestration
London, 12 October 2022 –Axerve, Payment Partner to Grow and a specialist in creating accessible and frictionless payment solutions for Ecommerce and physical sales, will be participating as a gold sponsor at the IRX @DTX+UCX event. Taking place at the ExCel on the 12th and 13th of October 2022, IRX (Internet Retailing Expo) is a benchmark Ecommerce event which will host a variety of key experts and industry-leading speakers and showcase the latest revolutionary technology within the Ecommerce sector. This year’s IRX will be co-located with DTX (Digital Transformation EXPO) for the first time in the event’s history.
Alessandro Bocca, CEO of Axerve, will be in conversation with Mark Shaw, Director of Global Payments Strategy of Spotify, during the keynote speech “Payment Orchestration for a Fluid Customer Journey: a conversation with Spotify”. Axerve and Spotify will focus on sharing experiences and insights from two different perspectives on the complex payments world: Axerve as a leading European payment provider and orchestrator and Spotify providing insights from the standpoint of an international brand interfacing with a diverse subscriber and customer base. From the conversation, practical examples will emerge to inform the audience of the different strategies which increase Ecommerce authorisation rates whilst simultaneously improving the customer experience, leveraging the testimony of Spotify and its payment optimisation needs.
Undoubtedly, consumers’ demands have grown exponentially in the post-Covid environment, particularly in terms of their wants and needs in the Ecommerce space and most significantly when it comes to the check-out process. Therefore, it is imperative that new solutions are developed to address these demands for ease of payment that is both secure, fast and compliant. The payment process is a milestone within the customer journey and a crucial point for businesses and comes with a lot of challenges, particularly when dealing with international recurring payments to ensure a simple, frictionless, and secure flow.
As a result of this increased complexity, merchants need to optimise the payment process and work closely with PSPs. Axerve’s Payment Orchestra™ manages the interoperability between all the transaction processes and types and simplifies payment configurations due to a new proprietary software architecture. In this way, payment orchestration can significantly cut the costs of multiple Ecommerce integrations, allowing independence from payment service providers (PSPs). Its multi-solution integration system gives businesses the possibility to automatically switch payments to the best-performing provider at the time of purchase, resulting in industry-leading quick reaction times.
This results in lower development and maintenance costs and an automatic and simpler reconciliation process.
Both Axerve and Spotify will demonstrate how the collaboration between PSPs and merchants is vital to effectively manage payments. Spotify will bring their experience as a top merchant and a brand that merchants can relate to. Axerve will illustrate how an Ecommerce business’s ability to streamline the check-out and billing process by deploying payment orchestration tools can turn the current retail sector challenges they face, such as a stricter regulatory environment and increased payment method complexity, into opportunities to be competitive at a worldwide level, while saving on resources and fees and increasing overall payment authorisation rates and removing friction for customers. Mark Shaw will share Spotify’s valuable experience, as an international merchant, in navigating the increasingly complex world of payments, which nowadays demands merchants have a strong focus on ensuring seamless and secure payment processes while at the same time meeting customer expectations.
During the event, Axerve’s Deputy CEO, Alessio Damonti, will also deliver two workshops to IRX attendees and delegates. The first one on the 12th of October at 3.00pm with Riskified on “How to make PSD2 work for you: Relying on the right partnerships and data-driven decisions”. The second one will be delivered on the 13th of October at 11.15am in partnership with Fabrick, a European pioneer in open finance and be hosted jointly with Fabrick’s Head of International Business, Simon Pearce and entitled “Payment and collection engine within a payment orchestration ecosystem”. Payment orchestration ecosystem (PACE) is a digital platform for the management of collections and payments. Fabrick promotes open finance through the development of innovative digital services, based on the logic of collaboration and Axerve is part of its open finance ecosystem. At the start of September, Axerve published a new whitepaper titled, ‘Payment Orchestration: unlocking cost-effective Ecommerce for merchants in a multiple payment provider ecosystem’. The paper explores the drivers for payment orchestration and assesses the positive impact that it is having on merchants across a range of sectors by supporting higher payment authorisation of up to 9% increase through the choice of the optimal acquirer, as shown by Axerve data. To discover Axerve’s latest whitepaper please follow this link.
Axerve is part of the European fintech, Fabrick. The company not only offers an open finance ecosystem, but it also supports a diverse mix of institutions, international corporations, and retail chains by offering innovative technology and data security across global payment methods. Furthermore, Axerve helps its partners anticipate trends in the digital payments market. The Axerve payment platform processes more than 4 million requests every month, supporting customers in selecting the best solutions for their business and suggesting the most effective instruments to increase sales and boost loyalty.
Alessandro Bocca, CEO of Axerve, said: “Axerve is proud to participate at this year’s IRX@DTX+UCX event as a sponsor and share our experience as a payment provider and orchestrator alongside a leading merchant, Spotify. Today, many firms large and small are increasingly having to meet the needs of diverse customer bases spanning multiple geographies as the age of the internet and Ecommerce has opened them up to far-flung audiences, seeking to pay via a more diverse set of methods than we’ve ever seen before. This poses real technical challenges for many businesses that don’t know how to efficiently navigate the increasing complexity of managing billing and payments processes. Axerve is thrilled to accelerate the growth of businesses by making it easier for them to take payments and deliver seamless customer check-out experiences.”
Axerve
Part of Fabrick's Fintech ecosystem, Axerve stands for over 100,000 active customers, as a partner for business development helping them to understand, anticipate and address the needs of the market thanks to technological and innovative solutions for the point of sale and Ecommerce. Axerve supports them nationally and internationally and in every single market, integrates value-added services to meet the needs of physical and online stores with a personalized user experience, offering over 250 payment methods. The offer consists of a single platform to accept any type of payment, from all physical and digital channels, in a clear, simple and secure way, through physical and digital gateways, such as POS, Ecommerce solutions, Cashin machines, applications and value-added services; with the aim of offering an answer to all questions in the field of payment acceptance, offering new solutions (in-store, mobile and digital) adapting to the specific needs of customers. Axerve Ecommerce Solutions has a strong leadership in online payment management services in all product sectors. www.axerve.com/en
