inai (YC S21)

It's finally here🎁 We're more than excited to unwrap our latest creation inai's "Optimize and Reconcile" – Now Live on Product Hunt! 🚀 Having processed over millions of transactions, we have learned that merchants can lose up to 60% of their business due to payment failures and spend over 30% of their time reconciling payments across multiple gateways.💸⏳ In inai's "Optimize and Reconcile", we've revolutionized every aspect of the payments to provide in-depth insights on your payment stack and uncover hidden opportunities with AI-based recommendations. 🤖💡 Along with automating recon to optimize fees and your FinOps time.💰 Whether you're a small startup or a large corporation, our platform caters to businesses of all sizes. 🏢 Join us on Product Hunt today and explore a better way to manage your payments! Please show us some support and love ❤️ https://lnkd.in/gAS8JMDA #payments #fintech #paytech #onlinepayments #producthunt

Did you know that 15% of recurring payments and 7.9% of credit card payments are regularly declined? 📈 Retrying payments can recover up to 32% of failed transactions, reducing involuntary churn, improving customer retention, and maximizing lifetime value. It’s important for merchants to understand the common root causes of payment failures and address involuntary churn through effective retry strategies, customizable retry limits, optimized retry timing, and so on. 🔧 Some top strategies to Implement: 🔀Segregate Soft and Hard Declines: Focus on addressable issues. 🔎Analyze Payment Data: Understand patterns and optimize retry logic. 🔁 Smart Retry Logic: Assess decline codes to determine the likelihood of a successful retry. Check out the blog to learn more ↙ https://lnkd.in/gPstbt2e #payments #subscription #paymentretry

In my recent conversations with merchants on LinkedIn, and other payment conferences, especially those processing over $300M, it’s clear that there are significant concerns about discrepancies in fees management especially under the IC++ model and the inefficiency of managing multiple merchant accounts. This highlights the need for an automated system with accurate benchmarks and effective comparison tools. 🔍 Fee Complexity: Fees include multiple components (Interchange, Scheme, Processor, Markup). Merchants control only the markup and face challenges with the rest. 📈 Constant Changes: Fees are constantly changing, making it difficult to stay updated. 😠 Billing Errors: PSPs/Acquirers often bill merchants incorrectly, such as charging different fees for the same card type or not crediting interchange fees for refunds. ☣ Lack of Transparency: There is a lack of transparency for "other" fees, such as excess retries or chargeback fees, which are not attributable on a per-transaction basis. 📊 Data Standardization: There is no standardization in how different acquirers present data—ranging from APIs to CSVs, monthly PDFs, or sometimes no data at all. Here are a few strategies merchants can use to manage this complexity: 1). Leverage Data: Establish a robust data infrastructure to capture all fees. Vendors like Inai (YC S21) specialize in aggregating fees across multiple PSPs. 2). Collaborate with PSPs/Acquirers: Work with your PSPs/acquirers to get granular fee details. 3). Track Anomalies: Systematically track fee anomalies and identify opportunities to reduce costs, such as stale authorizations or failing to use AVS, which can lead to interchange downgrades. What strategies have worked for you? Feel free to share your comments or DM to talk payments.

🛒  Why Your Business Needs Multiple Payment Processors? One of the biggest hurdles for retailers & e-commerce businesses face is navigating the complexities of payment processing. Relying on a single payment processor can limit your growth and flexibility. Adopting multiple payment processors is crucial for expansion, though it’s not without its own set of challenges. Lets Deep-Dive 🔬   💱 PROS of Multiple PSPs 💠 Offers customers their preferred payment methods, boosting satisfaction and loyalty to your brand. 💠 Reduces payment failures by leveraging different processors' strengths. 💠 Ensures continuous service by providing backup options during processor outages 💠 Choose cost-effective payment processors for specific transaction types or regions to minimize overall payment processing expenses 💠 Leverage the best innovations from each, such as #Adyen's advanced fraud prevention and #Stripe's extensive developer tools.   ⚠ CONS of Multiple PSPs 🔸 Handling data from various sources can be overwhelming and challenging to manage. 🔸 Different processors may provide different metrics, making it hard to maintain a unified view of performance. 🔸 With multiple systems in place, the chances of encountering processing errors increase. This can lead to failed transactions, duplicate charges, or delayed payments. How to resolve these challenges? 🛠 Implement Payment Observability tools Like inai (YC S21) to : ✅ Consolidate data from all payment processors into a single, unified performance dashboard. ✅ Standardize metrics across processors for accurate and comparable KPI analysis. ✅ Gain Real-time visibility and alerts on processing errors, eventually reducing transaction failures 🌟  Why It Matters? A robust payment observability platform ensures you can transform your payment data into actionable strategies i.e. overcome the complexities of managing multiple processors to drive efficiency and growth in a competitive market and expand into new markets. Feel free to add your thoughts below. #Payments #Ecommerce #Retail #CPG #PaymentProcessing #PaymentObservability

The quality of data provided by vendors is a critical concern. Merchants find it extremely challenging to perform in-depth analyses due to the lack of insights and depth into data. Stats highlight how a substantial data gap sabotages merchants' ability to optimize their operations and improve their bottom line. 📈 This gap spans several areas, such as: 🚫 65% of merchants don't receive detailed raw response codes on failed payments. 📊 41% of merchants lack actionable analytics with their payment data. 🔎 48% of merchants do not receive a detailed cost breakdown. The data clearly indicates a significant gap in the types and levels of data that merchants receive. To bridge this gap, there is a pressing need to enhance the quality and granularity and leverage the entirety of the payment data set, particularly at the transaction level, to better understand and improve transaction economics. A better strategy would be to opt for a solution with smooth integration capabilities, detailed cost breakdowns, and actionable analytics that enable you to identify the reasons behind transaction failures and eliminate unnecessary fees. To help merchants with that, inai provides a payment data observability and intelligence platform for global merchants to visualize payment performance, gauge benchmarks, and optimize payment costs with intelligence. 🌐 We aggregate all decline codes and use proprietary payment insights collected from multiple data points, offering critical information to identify which transactions can be retrieved upon failure. Connect with the team to get a payment health analysis ↙ https://lnkd.in/gTZYGQAv? Source: https://lnkd.in/gmPw-Rkz #optimize #payments #declines #inai #dataintelligence

💰 Finding new ways to cut costs is one of the top priorities, whether you are a small business owner or one of the big ones. One often overlooked area for savings is how you process card transactions. You might think you've optimized everything, but you can still save by refining how you process card transactions. You probably opted for the best discount rate when you first started accepting credit card transactions. But, over time, transactions that don't meet the minimum requirements for the target Interchange category can result in an interchange downgrade. 📉 Every transaction downgraded to a less-than-optimal rate adds up, which chips away at your bottom line. 💸 However, to ensure all your transactions are clear at this optimal rate, it's crucial to understand common reasons for interchange downgrades and how to avoid them. 🔗 Check out this piece on Interchange Downgrade ↙ https://lnkd.in/gktYJy9H Let us know your thoughts in the comments! 💬 #interchangedowngrade #Payments #fee

〽️Churn is a complicated challenge that demands a customized solution. From failed payments to shifting market dynamics, the issues behind churn are as diverse as they are frustrating. Payment data, a whirlpool of information, often blurs the lines between voluntary and involuntary churn, making identification difficult. To gain clarity and actionable insights, consider segmenting average churn rates by order value, payment method, industry, and different customer cohorts. 🔍 Explore our optimization product for 360-degree observability and granular-level insights to help you dissect data, uncover patterns and opportunities to optimize your retention, and retry strategies, along with personalized recommendations to tackle churn effectively! 💪🏼 🫱🏽🫲🏼 Connect with the team to learn more ↙ https://inai.io/demo #recurringpayments #optimize #churn #failedpayments

Data can be daunting, muddy, and sometimes extremely overwhelming.😓 It can be difficult to trace the reasons for blocked payments due to a lack of visibility of bank response codes throughout the transaction process. Moreover, issuing banks might also decide to decline payments when they don't receive the right level of supporting information. Additionally, your PSP could be making suboptimal routing choices without your knowledge. 🔄 Certain payment processing systems show you why your transactions are failing. Others do not.🤷♂️ And, we fall under the former. Our dashboard clearly shows that transaction volumes are dropping off at various stages, along with the success and failure rates of total payments attempted. In the authentication stage, you will see the number of online transactions authenticated using 3DS, and a significant portion of those are declined at that point.🛡️ It might be worth investigating the root cause behind why many of these payments fail to succeed. Some payment systems disclose reasons for transaction failure, and others do not. We ensure merchants have that insight. To give more clarity, inai provides a payment data observability and intelligence platform for global merchants to visualize payment performance, gauge benchmarks, create alerts, and optimize payment costs with intelligence. 🌐 inai combines all decline codes and uses proprietary payment insights collected from multiple data points, offering critical information to identify which transactions can be retrieved upon failure. It aggregates error codes to better understand failure reasons and take actions to: ✅ Optimize for improved auth rates ⏱️ Determine the optimal time for retry 🔒 Analyze 3DS performance 🔄 Manage churn with retry logic This will help you assess trends and get insights to make your strategy adjustments - All without them needing to reintegrate any systems or write even a line of code. You never know until you try —- All yours 🫴🏽 https://inai.io/demo #optimize #payments #declines #inai #dataintelligence

💸 Businesses are losing millions due to payment failures, with 75% of merchants citing this as the primary cause of lost revenue. It's essential to understand and address these failures through error code analysis. Key insights from leading brands show that 80% of payment failures are fixable. 💡 Differentiating between addressable and non-addressable declines requires advanced algorithms to analyze transaction parameters. 🧮 Merchants often struggle with error codes due to either: 🏦 Non-standardized issuer codes from various banks. 💳 Different error codes and logic from multiple PSPs. This complexity makes it hard to pinpoint and resolve issues. For example, "Do_not_honor" from one bank and "error code 05" from another both mean the same thing: the transaction is declined. inai combines all the decline codes and uses proprietary payment insights collected from multiple data points, fleshing out the critical information needed to identify which transactions can be retrieved upon failure. It aggregates the error codes to understand the failure reasons better and take appropriate actions. With inai, merchants gain actionable insights and customized recommendations - without any code. Let's discuss how we can help keep your revenue flowing smoothly. ✅ Connect here : https://inai.io/demo #optimize #payment #declines #inai #dataintelligence

🎞 SubSummit is underway! We're thrilled to be a part of the excitement and conversations that have taken place over the last few days. Meet with our co-founders, Anantharaman Pattabiraman (CEO) and Karthik Narayanan (CPTO), to discuss the latest in subscription space and different payment strategies to transform your raw payment data into actionable insights 🌟 🤝 You can also drop us a DM and learn how our suite of global payment solutions can help your business to scale at speed. schedule a meeting here ↙ Anta: https://lnkd.in/gidyCfxP Karthik: https://lnkd.in/gdSgUs9X #SubSummit24 #subscriptions #Payments #dataintelligence #inai