PaymentsSource: Modo debuts merchant tool to swap payment services providers on the fly

Posted by Modo on Mar 7, 2019 5:04:36 PM

Ryan Lee, Modo's Chief Product Officer, spoke with Kate Fitzgerald, editor at PaymentsSource about the launch of our new /Checkout product. The pair spoke about how /Checkout simplifies payment stacks for global ecommerce merchants. Dive into the full article on PaymentsSource here, or continue reading for an overview of /Checkout.

One connection to Modo gives merchants access to the world of payment service providers (PSPs) and alternate payment methods (APMs). Currently, it takes merchants around nine months to integrate with a new PSP. Modo can make those connections in about a month.

“Through a single connection, Modo provides a path to dozens of payment service providers and the flexibility to switch between them, so merchants don’t have to do that work of direct negotiation and integration with processors.”

Ryan Lee, Modo CPO

And for merchants that already have connections around the world, Modo's /Checkout product gives clients a dashboard with one view of their transactions from initiation through settlement and reconciliation. The dashboard makes reporting a breeze, and gives merchants insights into their data.

Features of the /Checkout product include:

Assurance - Create customers for life with “soft decline” authentication routing

Insights - Monitor performance in real time using the performance and notification hub

Manage - One view of exception, disputes, and fraud across all payment providers in the stack

 

 

Modo's current /Checkout customers most notably include 14 West, who has a variety of payment providers around the globe, and Etihad Airways, who is turning its loyalty program into a currency for use on partner websites. On the other side of the network, Klarna uses Modo to implement its "instant integration" for their merchant partners.

Learn more about the /Checkout product at www.modopayments.com/checkout.

Topics: modo in the news, product innovations