Tue. Aug 20th, 2019

Yandex.Taxi & Firebird Tours: How Do International Businesses Accept Payments Online?

Almost all eCommerce sectors are increasing in volume and in profit annually. Growing consumer confidence in online shopping makes the online payment process another source of conversion, bridging the way to new markets.

The experience of industry leaders like Uber, Yandex.Taxi, and Firebird Tours have shown that quality payment service providers have positive effects on business growth – even in highly competitive markets. ECOMMPAY doesn’t just facilitate the acceptance of payments online, but helps companies such as these strengthen their market position and enter new regions. We describe how below.

A unified payment scenario for different markets

As online businesses expand into new markets, many of them are faced with the need to handle payments in local currencies, and provide a convenient payment process for users from different countries. At the same time, it’s important that the payment experience is unified for all customers, regardless of region. A single, unified system has positive effects on user confidence.

A practical example is the partnership between taxi app Yandex.Taxi and ECOMMPAY to help the former enter new markets in Europe, Asia, and the CIS. ECOMMPAY instituted a convenient online payment method for their client, which corresponded neatly to the Yandex.Taxi app’s pre-existing tech and interactions with payment providers. The payment scenario for passengers remains the same regardless of the country in which Yandex.Taxi is operating, solidifying user confidence in the service as a whole.

Using ECOMMPAY’s payment infrastructure, Yandex.Taxi began accepting online payments in Moldova, Estonia, Lithuania, Latvia, Serbia, Kyrgyzstan, Belarus, Georgia, and several other countries under the Yango brand.

It takes up to two weeks to establish a cashless payment method in a new country, from checking compliance with international payment system requirements to technical integration. 

Security, anti-fraud, and risk management

Customer confidence and online payment security are key characteristics of successful eCommerce operations. Anti-fraud measures are of particular importance for businesses dealing with big ticket items, e.g. tourism, and for digital platforms processing a high volume of cross-border transactions, i.e. when a card issued in one country is accepted by a local bank in another part of the world.

To customise a payment system’s filters with precision, the payment service provider must first analyse all available information on the geography and specificities of a client’s business, in order to meet high security standards without sacrificing conversion.

Every ECOMMPAY client fills out a basic questionnaire, in which they note their preferences for their anti-fraud settings. Some provide a list of mandatory checks, while others leave it completely to the provider. The automatic monitoring system is complemented by risk managers carrying out manual checks.

ECOMMPAY adjusts its proprietary risk management and security systems on an individual basis for each client, minimising losses from potential fraud. 

ECOMMPAY adjusts its proprietary risk management and security systems on an individual basis for each client, minimising losses from potential fraud.

Firebird Tours, a tour operator offering the purchase of rail tickets via the Rail.Ninja, Russiantraintickets.com, and Russiantrains.com platforms, partnered with ECOMMPAY in 2017. Since then, Firebird Tours increased its share of successfully completed payments by 35%, with the largest volume of traffic originating from the US, EU, and Latin America. At the same time, the technology behind ECOMMPAY’s proprietary FraudStop risk management system, combined with the work of personal risk managers, minimised the possibility of fraudulent activity on the ticket services pages.

Additional services and tailored consulting

Entering new markets and regions means companies need to take into account the particulars of local legislation, and comply strictly with the legal requirements of electronic transactions.

A distinctive feature of ECOMMPAY is customised client service and legal support for partners across the globe. This makes it much easier to adapt international payment solutions for new countries, and to provide additional legal advice to clients on the specifics of a particular region.

ECOMMPAY assisted two Firebird Tours projects – Rail.Ninja and Russiantraintickets.com – improve their security and attain PCI DSS certification, confirming that the acceptance of online payments is made in accordance with international security standards established for companies that store, transmit, and process payment data.

Scaling up a business can be difficult even for large companies, particularly in new markets. In these instances, cooperating with a payment service provider facilitates the task. A quality payment service isn’t about payments alone, but a whole range of solutions and full consulting support.

If you’re looking to expand your business to new countries and regions, contact our experts to get individual advice on scaling your company!

The post Yandex.Taxi & Firebird Tours: How Do International Businesses Accept Payments Online? appeared first on ECOMMPAY | Payment Solutions. Individually tailored.

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