Company
2023's Feathered Feats Were a Flocking Success
Klas Bäck
Jan 5, 2024
We've said bye bye birdie to 2023, and wow what a year for Pagos! We shipped so many things while generating quite a buzz and traction in the market. We are (already) operating at a mind-blowing scale and have a lot to celebrate, which we’re excited to share with you today. But we’ll let the numbers do the squawking!
Funding
We closed $34 million in our Series A investment in Q1 of 2023.
Products
As of December 2023, we have seven growing birds:
Parrot - An unmatched database of BIN data to help you better understand your customers and enable real-time transaction decisioning
Peacock - Your payments data aggregated and organized into insightful visualizations that shine a spotlight on trends, troubles, and opportunities
Canary - Observability to keep watch over your payments data and and alert you of anomalies
Toucan - An API with unrivaled functionality for you to access network tokenization services from all four major card brands without having to change your payment processing partners
Loon - An API that provides instant access to global account updater services from all four major card brands without having to change your payment processing partners
Puffin - A payments data access and delivery service. Use your payments data anywhere by leveraging Pagos as a data source for any workflow or process; contact us to participate in our Early Access Program and leverage your payments data for so much more
Flamingo - Take your payment operations to new heights by benchmarking your performance against your peers; contact us to participate in our Early Access Program
Major Product Releases
We have selected 11 of our key releases from 2023 below:
Get Cost Clarity and Savings:
We added support for fees, invoices, effective rate, and interchange and assessment details for Stripe, Braintree, WorldPay/Vantiv, Klarna, PayPal, and dLocal (with more no-code payment processors coming soon). You can now investigate your cost questions in Peacock and Canary no matter who you process with and automatically track changes so you aren’t surprised by any fees!
Use and Know Your Data:
We added a lot more context so you can get a birds-eye view of what’s important in your payments data—track overall performance by BIN, metadata, your average order value (AOV) distribution, and more. We also made it easier to harness the data in your soft descriptors by allowing you to group them into segments so your KPI tracking aligns with how you see it (contact us if you want to try this out).
Leverage Increased Transparency:
We allow you to download the data behind Peacock charts to see the raw details from your payment service providers (PSPs) on transaction declines, fees, and chargebacks. This allows you to better manage your vendor relationships or drill down even further to see how you can change your transaction or chargeback processing.
Build on Pagos:
Bring your clean, harmonized metrics and raw data into any workflow by downloading or scheduling downloads of all your raw data or just what you care about. This means no more waiting for your data team to pull a specific report and no more logging into the PSP consoles and clicking on report downloads—just schedule and go with Pagos.
Experience a More Beautiful Canary:
We’ve improved the usability of Canary by refreshing our product design, introducing a summary view of your most active triggers, and by recommending triggers that you can configure with a single click. Not to mention we have added a new data model to the mix so you can track metrics over time with better accuracy and less noise.
Connect Effortlessly with 10 No-Code Integrations
Automatically Update Cards on All Four Networks
with Loon and its easy-to-use sandbox. Don’t get trapped behind an old integration of account updater; instead, get the updates you want quickly, stay in control of what cards go in for an update (for your most important customers), and avoid updating cards for inactive users. We allow customers to pass metadata as well, so you can integrate updates into your vault no matter the hierarchy/structure.
Tokenize Cards on All Four Networks
and use life-cycle management notifications from issuers to ensure your customer records always stay up to date! We have added a network token simulator so you can interact with network tokenization and the full range of possible responses for provisioning. (Check out our Discover blog!)
Fly Even Higher with Parrot’s Expanded Data Wingspan:
We now provide support for all the data we receive from our direct network connections, including key fields for prepaid and reloadable card types, identifying an account range as a PAN or network token, and even determining if an issuer supports account updater on the BIN or not. We also include helpful statistics about what is changing on a weekly basis so you can feel confident you’re staying up to date.
Track market shifts like the explosion of US pinless debit enablement, with a 214% increase in enabled BIN ranges, totaling over 127,000 in newly accessible back-of-card options for merchants.
P.S. 8+ digit BINs are here to stay: over 30% of Visa’s account ranges are 8-digit as of December 2023, which means you’ll need to change how you analyze BIN data for trends in processing costs or customer behavior
Stream Data to Pagos from Anywhere with Data Ingestion API v2:
This gives you the ability to stream data to Pagos from any system and enrich your data via file batches to make your payments data as relevant to your business as possible. Label your transactions with marketing campaign data, retry attempt count, product details, and more!
Illuminate Trends in Your Data
with 250+ Peacock charts and hundreds of ways to view data through different lenses based on your needs. Our platform is payment method agnostic and we now have live transactions from over 100 different brands and payment methods. We now see volume in almost all jurisdictions of the world!
Infrastructure
With our infrastructure enhancements, we’re now supporting:
130+ transaction events per second real-time
10.5 million transactions per day
We’ve now processed over 4.5 billion client transaction events through our platform since we launched two years ago. That’s a lot of transactions accrued very quickly!
More interestingly, our 12 month rolling number is now at 3.6 billion, so we're getting close to running 4 billion transactions per year from some amazing brands.
Community
We held 3 team offsites in 2023 and had nearly 80% attendance—our highest yet—at our last one for the year in Portugal
We wrote 43 blogs and revealed several new identities for our mascot, Hatch, including:
We connected with partners and customers at 10 conferences
We’re grateful to our Birders, customers, partners, and investors for a year filled with learning and growth, and we’re excited for what we’ll accomplish together in 2024!