Nexway’s new solution uses artificial intelligence to identify the best days of performance and limit payment rejects.
The 2017 average renewal rate was above 85%, and when re-factored with SMART REPLAY, the impact is a 30% reduction in customer attrition.
Nexway, a leading provider of solutions to monetize businesses and connect them to the global digital market, announces the launch of its new SMART REPLAY service. In a global innovation approach, Nexway has created the intelligent SMART REPLAY solution, based on the recognition that the success rate of payments for subscription renewals varies significantly depending on a number of key factors such as day of the week or month, time of day and type of payment method.
Thanks to artificial intelligence, the SMART REPLAY service offers the best payment scenario for subscription renewals. SMART REPLAY is built in synergy with the SMART ROUTING service, which has already enabled Nexway’s platform to call on the best performing payment service provider to optimize payment acceptance and increase its customers‘ revenues.
SMART REPLAY brings Nexway customers several innovations:
• Rapidly implementing an additional service to increase the payment authorization rate for subscription renewals. This leads to an average increase in the success rate of renewals between 2% and 6%.
• Easily unlocking between 1% and 5% more on recurring revenues.
• By increasing the subscription success rate, overall revenue benefits from a snowball effect: a re-engaged customer generates an average of 1% additional revenue over 3 years.
• Adapting to the hyper-localization of subscribers and the nuance of their payment environment, allowing for further refinement of the different renewal scenarios.
• By adapting to each customer in a permanent concern of personalization of the services.
“We all care about engaging our customers at the right time. Machine learning, our payments database and experience are valuable resources that have enabled us to implement SMART REPLAY, an innovative and powerful tool that we are proud to make available to our customers.”
confides Pierre Mathis, Head of Customer Success at Nexway.
Pierre continues, “We already have early adopters on the platform, and its not even two months old. The value and impact of the service was immediately seen as beneficial to our customers. From a financial perspective, we’re already seeing revenue growth of upwards of 5% in some areas.”
Nexway is a leading provider of solutions to monetize digital businesses and connect companies to the worldwide digital market. Founded in 2002, Nexway has enjoyed rapid growth, thanks to strong and diversified partnerships. Based in Paris – La Défense, France, the company has subsidiaries in the USA, Brazil, Germany, Italy, Spain, Poland, and Japan. Leading companies who rely on Nexway include retailers Orange™, Yahoo! Japan™, Softwareload™, Best Buy™, Amazon™; and publishers Kaspersky Lab™, Kingsoft™, Adobe™, 2K Games™, Big Fish™, ESET™, Avast Software™ and many others.
Isabelle Renard & Alexandre Denis
Tél : 01.42.22.24.10