Company

Empower Your Business With Payments Data Benchmarking

Author

Grace Greenwood

Community Knowledge Lead

April 4, 2024

April 4, 2024

April 4, 2024

We like to say that the Pagos team is built of payments experts, because—well—we are! Most of us have worked in payments from the provider or merchant perspective (or both), and we have a wealth of combined knowledge about payment processing, analytics, and optimization. With all that expertise, scale, and intel, we can harmonize your data, show you when your approval rate looks low, and even help you identify any declines you can easily address. We’ve had the privilege of working with some of the most advanced payments companies in the world and have provided them with strategies for maximizing revenue, decreasing costs, and even fighting fraud

But even with all that, there was one question we couldn’t previously answer: how do one business’s payment metrics measure up against those of their peers and the greater industry? Until now.

Last month, we announced the launch of Flamingo, our payments benchmarking service. This groundbreaking solution sets a new standard in payment analytics, empowering businesses like yours to anonymously compare your historical and real-time payments data against those of your peers and competitors. Powered by many billions of transaction data points and card network data feeds, Flamingo gives you a comprehensive overview of how your payment metrics stack up; know at a glance where you’re excelling and where you may have room for improvement.

Identify Opportunities for Optimization

With Flamingo, you can identify areas for improvement, recognize trends, and gain confidence in your processing capabilities. Whether you're looking to assess and improve your approval rate, understand what a reasonable decline code distribution looks like, or determine if your chargeback rate is fair given industry trends, Flamingo can provide you with the insights you need to make informed decisions. You can even schedule reports of customized benchmark data to be sent to you on a regular schedule for use in any ongoing analysis.

Perhaps most importantly, Flamingo can guide your payments optimization efforts by ensuring you’re focusing on the right things in your stack. For example, imagine you run a subscription business and you see a spike in NSF (insufficient funds) declines; before you throw resources at bringing this number down, you’ll first want to confirm whether or not this is an issue for all subscription services or just yours. Flamingo can tell you in the moment if this is an issue plaguing the entire industry or if it would be worth the time and energy to dig deeper into your data and A/B test solutions.

Seamless Integration with Peacock

Flamingo seamlessly integrates with Peacock, our payments data visualization and monitoring tool. Through our no-code data connections or simple REST API, we’ll ingest all your payments data from your payment service providers (PSPs) and harmonize it into a single data feed. You can then analyze all your payments data side-by-side in Peacock and easily view benchmark data alongside your own. Have specific metrics you want to keep a closer eye on? Running an experiment to drive revenue in a specific market? No matter your use case, we’ve got you covered.

Security First, Always

Rest assured, your data security is our top priority. Flamingo's data is anonymized and aggregated to give you the insights you need without revealing the source. Plus, with weekly updates, you can trust that your benchmark measurements are always fresh.

Start Benchmarking Today!

Getting started with Flamingo is easy. Once you sign up, you have instant access to benchmark data without any integration hassles. Contact us today to start benchmarking your payments performance with confidence.

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