Justin Sokol

FlexCharge

FlexCharge is an AI-driven platform that partners with merchants and payment providers to instantly review and recover failed customer transactions at no risk to the merchant and at no cost to the consumer. The problem we tackle: Digital commerce still has a big payment problem with 5-25% of transactions declined in an on-line shopping experience, representing +$500bn of lost sales. Worse, 50-75% of shoppers will move on to another store or drop their purchase after a first payment decline. Existing solutions only partially address the problem: Current solutions only offer marginal gains. Payment orchestration, offering multiple payment options, fraud detection platforms, and tokenization strategies all help, but have limited results and only use limited information. Most services address fraud, but not other decline codes representing over 75% of overall declines such as Funds not Available and Do Not Honor. The FlexCharge approach: Our platform offers the widest coverage and the least friction possible for a merchant. 100% of declined codes are covered using a fully embedded, real-time, and white-labeled solution. We take full liability for any transaction that is rescued by our service and settle merchants even if we have not recovered the funds from the customer, who is charged the transaction amount at no extra cost. The outcome: Up to +15% increase in revenues. On average, 30-50% of declined transactions are prevented by FlexCharge, leading to increased sales, decreased cost of acquisition, and longer lifetime customer values. The Team: A US Company with R&D based in Israel, FlexCharge brings together a highly experienced team representing the best of Quantitative Analytics, Risk Management, and Payments backgrounds to tackle declined payments and help your business sell more.