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Flexpay

www.flexpay.io link_icon

Company Research Report: FlexPay



Company Overview



Name: FlexPay

Mission: FlexPay aims to increase trust and transparency in the payments ecosystem, removing friction that prevents accurate payment authorization decisions and reducing failed payments and fraud losses.

Founded by: Online merchants and payments industry veterans.

Headquarters: 410 Saint-Nicolas, Suite 007, Montreal, Quebec, H2Y 2A5

Key People:
  • Darryl Hicks: Chief Executive Officer

  • Trevor Murphy: Chief Operating Officer

  • Laurent Binda: Chief Financial Officer

  • Chris Reinmuth: EVP of Business Development

  • Steve Arentzoff: SVP of Marketing

  • Charles Weiss: VP of Engineering

  • Jonathan Cowie: VP of Sales

  • Nicholas De Guise: VP of Client Success

  • Vanessa Brown: Director of Marketing

  • Jeffrey Pauletto: Director of Innovation

  • Maxime Mathieu: Director of Product

  • Baily Dyer: Manager, People & Culture


Number of Employees: No information is available

Revenue: No information is available

Known For: FlexPay is known for utilizing AI and machine learning to create individualized failed payment recovery strategies to solve for the hundreds of reasons a payment authorization request can be denied.

Products



Invisible Recovery™
  • Description: AI-powered solution that works directly with the payments system to recover failed payments quickly without customer awareness.

  • Key Features:

  • AI-powered payment recovery strategies

  • Recovers up to 70% of failed payments

  • Quick recovery, resulting in just 2.6 days vs. 30 days with other methods

  • Protects customer satisfaction and retention by resolving payments directly within the payment system.


Engaged Recovery™
  • Description: For failed payments requiring customer involvement, leveraging behavioral science to engage customers effectively.

  • Key Features:

  • Strategic multi-channel outreach, including SMS and email

  • Behavioral science-based messaging

  • Hyper-personalized communication

  • Empathy-driven customer interactions to maximize response rates.


Recent Developments



Recent Product Launches:
1. Engaged Recovery™: Launched to enhance the recovery of failed payments by leveraging behavioral science to engage customers through personalized outreach.

New Partnerships:
1. Symend and FlexPay Partnership: To deliver enhanced payment recovery options.
2. Partnership with ROI Solutions: Aimed at reducing involuntary churn for nonprofit organizations.
3. FlexPay and PYMNTS Partnership: Released the State of Subscription Business: Best Practices and Business Performance Drivers Report.
4. Integration with Chargify: To maximize revenue recovery for the B2B SaaS industry.
5. Partnership with Nexio: Streamlined payment recovery approach.

Awards:
1. CNP Customer Choice Award: Acknowledging FlexPay's excellence in customer service and solution delivery.

Customer Success Stories:
  • Alder Holdings: Increased subscription rebill rate by 60% using Invisible Recovery and Engaged Recovery.

  • Truly Free: Improved recovery rate by 240% compared to their in-house system.

  • ClinicSense: Achieved a 69% recovery improvement with Invisible Recovery.

  • Hooked on Phonics: Recovered an additional 45% beyond their in-house recovery, increasing subscription profitability and customer LTV.


Conclusion



FlexPay is a leading player in the payments recovery ecosystem, leveraging state-of-the-art AI technologies to enhance revenue recovery and minimize customer churn for subscription-based businesses. Their unique Invisible Recovery™ and Engaged Recovery™ products provide effective and customer-friendly solutions to manage failed payments, ensuring that their clients retain more customers and grow their profitability. The company's ongoing partnerships, product innovations, and accolades highlight its capability to deliver significant value to its clients.