Payrails, a leading payment platform catering to global enterprises, announced a strategic collaboration with inDrive, a globally leading ride-hailing app, to overcome the challenge of integrating multiple payment service providers (PSPs) and alternative payment methods (APMs) across the Middle East, North Africa (MENA), and other regions.
The collaboration aims to enhance local payment experiences for drivers and customers, boosting conversion rates while reducing costs.
At the core of the partnership is a pioneering technology designed to revolutionise payment processing and operations for businesses worldwide.
Payrails implemented a solution featuring a PSP-agnostic integration layer, dynamic payment routing, and expanded alternative payment method coverage.
Its unified integration layer offers a seamless experience by providing a single API, eliminating the need for cumbersome individual integrations.
inDrive achieved an 11 percent increase in card approval rates as part of an effort to boost conversion rates, accomplishing this in a fraction of the time usually required to launch each new integration.
Vasiliy Everstov, Head of Fintech at inDrive, said partnering with Payrails empowers the company to activate all of its key payment objectives for the business across our top priority markets.
“Together, we are driving tech innovation in the mobility industry and unlocking new opportunities for drivers and consumers alike,” he said.
Orkhan Abdullayev, Co-Founder and CEO of Payrails, said collaborating with inDrive to revolutionise global payment processing underscores the company’s commitment to providing innovative solutions in the MENA region and beyond that address the evolving needs of large enterprises.
“Our aim is to set new benchmarks of excellence for payment solutions across key industries worldwide,” he said.
Through this alliance, inDrive can now access and automate the most suitable payment route in each market at the lowest cost, thereby driving efficiency and profitability in the industry using Payrails’ unified technology and API.
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