Having 16 years experience in the financial industry, Cohen has worked for companies such as Easy Forex, Traders Education and Traders Group. Not only are payments generally difficult to understand, but there are also many different variables that need to be considered that are relevant only to the payment industry, such as rules and regulations, terminology, payment providers, integrations, data formats, alternatives, and pricing.
Many Online Merchants Have a Common Problem
Over the course of the last year, the BridgerPay has worked alongside many leading online and point of sale merchants to better understand their payments strategy and operations. One common theme that many merchants communicate is:
“How can I get a global view of all my online and point of sale transactions and payment data, so that we can make informed and business critical decisions utilizing that data?”.
With the understanding of what the trading platforms in our industry can or cannot do, we know how difficult it is for merchants to access their data. Some of the new payment providers do this better with robust API’s but limit it only to their platform. Others haven’t updated their platforms in years and don’t offer an easy way for merchants to access their own data. Further to that, having access to the data is one thing. However knowing what the data means and making business critical decisions as a result of that data is another thing altogether and yet equally important. This is something that unfortunately is not available for FX brokers or any online merchant in the market today.
How AI Technology Can Benefit the Payments Industry
BridgerPay team believes that AI will take a big part in bringing transparency to the online businesses. It will change how they manage and optimize their payments, their conversion and the complete experiences of their end users.
For example, a software that can consider billions of possible hypotheses at scale. One of those hypotheses can be your next breakthrough. Instead of manually testing a hypothetical outcome against a data set, using AI, you can automatically analyze massive amounts of data and shift it through a range of clarifiers – equations, definitions sentiments, locations – to build the best predictive model with a measurable business goal in mind. As the data changes the model adapts using adaptive machine learning algorithms.
What Challenges Does BridgerPay Solve?
BridgerPay's a team of creators, technologists and payment enthusiasts aiming to create a bridge between artificial intelligence and payments. BridgerPayis HQ’ed in Limassol, Cyprus as well as development offices in Tel Aviv. BridgerPay is the result of the technical knowledge and experience gained over the years together with the detailed feedback from Brokerages and online businesses whom we’ve worked closely with the past year.
Bridger is an AI-powered payment intelligence and data management platform, harnessing the power and performance of AI to create the most advanced payment learning software in the world. BridgerPay is solving payment flow challenges to deliver game-changing payment intelligence by providing easy and secure access to one's processor, gateway, order management data, and to break the numbers down. Some of BridgerPay's other services include Bridger Cashier, Bridger Admin, Bridger Router and a Settlement Calendar.
By making payments easier-to-understand and more transparent, the company hopes hope to empower FX brokers and online merchants to make more informed business-critical decisions to accelerate their growth whilst saving both time and money with a more streamlined and efficient payments operation.
“We’re proud of what we’ve built as a team and look forward to continuing the path in reshaping how online businesses utilize their payment data.” BridgerPay's founder states.
Do you have questions for BridgerPay or Ran Cohen? Let us know in the comments section below.