SafeCharge, a payments technology company, announced today that Gett – a rideshare application – will use its services to improve payment flows in the United Kingdom. Today’s release comes a year after SafeCharge was granted a payment institution license by the UK’s Financial Conduct Authority.
SafeCharge CEO, David Avgi said of Gett’s decision: “To be successful in this space it is critical to have a dynamic, reliable and high-volume payment provider capable of optimizing payment flows and growing with the needs of the business. We’re therefore delighted to have been chosen by Gett to support its payment services in the UK at such an exciting period of growth for the company.”
Optimizing the payment process
Gett’s ride-sharing service uses an automated payment system that is attached to the app. A user requests a ride via Gett’s app and automatically pays for it via their credit card. This is problematic as it can lead to a user taking a ride without having sufficient funds in their account.
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The current payments system also means a company will have to go through numerous intermediaries before they can accept the payment. This increases the chances the payment will be declined, and time it takes to receive the payment. Most damaging of all to any business, it means the cost of receiving payments increases.
As SafeCharge’s technology enables it to process each payment processing stage, it reduces these costs and the chances of failed payments and increases the speed of a transaction. The company also uses partial approval technology that enables it to take the maximum amount of cash on a customers card if they do not have sufficient funds to make a payment.
Commenting on the switch to SafeCharge, Gett’s Global Head of Payments, Guy Douek Stated: “By deploying SafeCharge’s latest payments technology in the UK, we are now in a position to maximize our conversion rates and recover those revenues that would have otherwise been lost.”