Introducing ProcessOut, a cutting-edge French startup that is revolutionizing the way online transactions are routed to the best payment provider. By leveraging advanced technology and intelligent algorithms, ProcessOut helps businesses of all sizes save on fees while significantly reducing the number of declined transactions.
ProcessOut has just secured $1 million in funding from a talented pool of business angels, including BlaBlaCar CTO Francis Nappez, former PayPal Director of Global Business Development Benjamin Blasco, Logmatic CEO Amirhossein Malekzadeh, and Amadeo Brenninkmeijer.
The startup is backed by prominent venture capital firms such as Techstars and 50 Partners. With its smart routing service that works with over a dozen payment service providers, ProcessOut enables big online services to act like their own specialized payments teams while saving time, money, and resources.
For instance, banks often have their own payment service providers, which can be hard to deal with but are significantly cheaper than modern alternatives. However, using only bank-based payment providers may not always result in the best outcome for a transaction due to technical or risk-related reasons.
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ProcessOut offers two services - Telescope and its own checkout module. Telescope allows users to monitor all their transactions in minutes, providing valuable insights and recommendations on the best payment providers for a specific transaction. The free service is an excellent way to attract new customers.
The startup’s checkout module acts as an intermediary between your client and your payment service providers, making it easier for businesses to switch to a new provider without incurring major setbacks. ProcessOut also stores credit card information for seamless transactions.
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