Adyen Rolls Out an AI-Powered Payment Optimization App

Adyen NV has introduced Uplift, an artificial intelligence-based payment optimization app that leverages data from Adyen’s processing platform to help merchants looking to boost conversions, streamline fraud management, and reduce payment costs.

The app leverages data linked to global transactions on Adyen’s processing platform. The extent of payment data on the platform means there is a better than 90% chance Uplift will recognize a shopper, making it easier to identify her associated risk, the processor says. Adyen has processed payments for more than 1 billion consumers globally.

During a pilot phase, merchants saw a 6% increase in their payment-conversion rate, on average, the processor says.

Adyen developed Uplift to “optimize the full payments funnel with AI” by using risk-based intelligence and automated conversion optimization to reduce the complexity of managing conversion, payments, and fraud management, the company says by email.

In addition to boosting conversion, Uplift streamlines risk management by automating the process, which reduces manual fraud-detection processes. During the pilot phase, enterprise customers reduced their manual risk rules by 86% on average, while 35% of the customers completely eliminated manual rules. 

Uplift also reduces false positives, which allows merchants to move more “legitimate customers” through checkout faster, the company says.

To help merchants reduce payment costs, Uplift selects the network offering the most favorable rates to route transactions. Merchants in the United States testing Uplift have reduced payment costs by up to 5% so far. Merchants piloting Uplift saw additional cost savings from the technology’s ability to tailor the shopper-facing checkout flow to a customer’s needs, the processor adds.

Uplift’s experimentation engine allows merchants to test new payment options on a portion of their traffic before scaling fully.

“Adyen Uplift takes an AI-first approach to tackle one of the toughest challenges in payments—finding the right balance between conversion, risk, and cost—using data, technology, and our single global platform,” Davi Strazza, president, North America for Adyen says by email. “Our goal with Adyen Uplift is simple, but bold, for every dollar spent with Adyen, we return many times that in bottom-line impact and deliver exponential value back to our customer’s businesses.”