Alternative payment methods such as Trustly and Sofort are growing at pace. Public information provided by Trustly shows that transactions using their technology grew by more than 350% over the last three years.
Given that 50% of consumers will abandon a transaction if their preferred payment method is not available, the time is right for a platform that recognises the importance of alternative and local payment methods to merchants’ revenues and profitability.
Local economies often feature payment schemes which are as popular or more so than Visa or Mastercard, such as Portugal’s Multibanco, Brazil’s Boleto Bancario or Belgium’s Bancontact - all of which are offered by Macropay. Macropay currently integrates payment methods from Europe, South America and Australia - and has plans to expand its coverage to include local payment schemes from all over the world.
Macropay’s new platform allows for payments in local currencies to be settled to a currency of the merchant’s choice. IBAN bank transfers are integrated from within a single dashboard, and fraud prevention tools such as automated ID verification, as well as biometric factors like face verification, are included in the system.
“The new platform we’re launching today is consistent with our overall approach. We offer our customers one contract, one dashboard and an efficient, streamlined onboarding process,” said Adam Clarke, Founder and CEO of Macropay.
“With the launch of this proprietary platform, developed in-house by our world-class programming team, we can now offer merchants the flexibility to process payments via some of the world’s fastest-growing payments methods, with traditional debit and credit card transactions to come soon. The first thirteen methods we’ve integrated are among the most popular on a market-to-market basis, and include rising international payment methods such as Trustly and Sofort.”