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ProcessOut improves payment data visualization

ProcessOut has grown quite a lot since I first covered the startup. The company now has a ton of tiny and enormous clients, from Glovo to Vente-Privée and Dashlane. The company has become a professional on payment providers and payment analytics.

The core of the product remains the same. Clients sign up to get an overview on the performance of their payment systems. After setting up ProcessOut Telescope, you can monitor payments with exorbitant fees, failed payments and disappointing payment service providers.

And this product is quite successful. Back in October 2018, the company had monitored $7 billion in transactions since its inception — last month, that number grew to $13 billion.

The company is adding brand-new features to make it easier to get insights from your payment data. You can now customize your data visualization dashboards with a custom scripting language named
ProcessOut Lang. This route, if you have an internal payment group, they can spot issues more easily.

ProcessOut can also assist you when it comes to generating reports. The company can match transactions on your bank account with transactions on disparate payment providers.

If you’re a smaller company and can’t optimize your payment module yourself, ProcessOut also builds a smart-routing checkout widget. When a customer pays something, the startup automatically matches card information with the best payment service provider for that transaction in particular.

Some providers are quite good at accepting all legit transactions, such as Stripe or Braintree. But they are also more exorbitant than more traditional payment service providers. ProcessOut can predict if a payment service provider is going to reject this customer before handing the transaction to that partner. It leads to lower fees and a lower rejection rate.

The company recently added help for more payment service providers in Latin America, such as Truevo, AllPago and Mercadopago. And ProcessOut now routes more transactions in one day compared to the entire month of October 2018.

As you can see, the startup is scaling nicely. It will be compelling to keep an eyeball on it.

Source
TechCrunch
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