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How PayTech innovation is creating new value in MOTO
How PayTech innovation is creating new value in MOTO

A whitepaper by Edgar Dunn & Company, commissioned by Prommt and Barclaycard

Pay by Link is establishing itself as an alternative in the evolution of digital payments. Smarter and more sophisticated solutions are reducing costs and improving the customer experience, helping to increase sales in the remote payments market.

Fraud and the protection of customer data provide an ever-increasing challenge for the payment industry. Evolving Pay by Link solutions offer significantly improved protection and peace of mind to customers and merchants offering high value goods and services. It not only protects and supports the entire payments value chain, but it provides a high level of customer experience offering significant advantages for merchants to safely drive and increase sales in specialised markets.

Explore the evolving landscape of traditional MOTO payments, the challenges faced by merchants, the advancements in Pay by Link innovation and its benefits in the remote payment sector.

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Client Insights - Open Banking Payments, Q4 2023
Client Insights – Open Banking Payments, Q4 2023

Following our successful soft launch in July 2022, Pay by Bank has rapidly gained momentum, with an impressive 60% of our clients processing millions through open banking. We are sharing our key findings to date in this latest client insights paper.

Highlights include:

  • Clients achieve over 93% payment success rates.
  • Automotive is our top performing industry for Pay by Bank. The highest value Pay by Bank transaction in Automotive was €72,714.25.
  • The highest value Pay by Bank transaction within Hardware was £47,077 and within Luxury Retail was £66,400. The highest value within Hospitality was just under £20,000.
  • Average Transaction Value (ATV) continues to increase each month. The ATV for a Pay by Bank transaction (£4,040) is four times higher than the ATV for a card transaction (£990). Six months ago, the ATV for a Bank transaction was (£2,390) and for Card was (£675). This implies two things – Card transactions are not endangered, and Pay by Bank will continue to bring high-value transactions onto our platform.
  • The Prommt checkout is now available as a Web Payment, not dependent on Pay by Link.
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So much more than Pay by Link
So much more than Pay by Link

Introduction to Prommt

Prommt enables businesses to request, collect and track remote payments from their customers with secure payment links via any payment type, any channel, at scale.

When customers want to pay by phone or a product doesn’t lend itself to e-commerce shopping carts, Prommt allows you to turn risky, time-consuming over the phone transactions into secure, convenient, online payments. Our orchestration tools offers the ability for businesses to easily present card or bank as a payment method.

Prommt focuses on security and confidence and a journey that is native to the retailer.

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Johnsons Jewellers
Johnsons Jewellers

Customer Success Story

“Johnsons Jewellers provide exceptional service in-person, over the phone, and online. With the quick and easy launch of Prommt, multiple in-store users can now send secure, fully-branded, and personalised payment requests through various messaging channels. Prommt offers convenience during remote consultations, ensuring secure payment collection while preserving our brand identity.

Pay by Bank reduces costs by eliminating card processing fees and chargebacks, and enables faster payments. It’s concierge commerce made simple.”

Libby Johnson, Director at Johnsons Jewellers

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ME Plant Hire
ME Plant Hire

Customer Success Story

“Prommt helps us reduce costs and protect our business against losses due to late returns, damage & theft, by supplementing in-store or over the phone consultations with an easy, secure and more convenient way to pay. We would highly recommend Prommt to any business that wants to significantly improve their customers’ remote buying experience.”

Ray Menton, Manager at ME Plant Hire

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