Speed up your payment response times with Kushki and latency optimization

Nowadays there are so many similar products and services in extreme demand, that even the smallest detail counts for a user to decide between one or the other, even in the time it takes to confirm a payment. In this article, we will discuss how optimal payment processing latency provides a better quality of service for your users and the operation of your business.

Lower latency = Better service

The optimization in Kushki’s transactional times that your business needs.

What is latency?

In general terms; the latency is defined as the time it takes for data to be transferred through the network. Networks with a longer delay are considered to be high latency networks, while those that process faster response times have lower latency.

When we bring the term latency to the world of payments, we are talking about a fundamental and even critical issue for efficient transactions, since large companies need it, especially for payment service processors (PSPs) or for orchestrators that need to serve their users in real or near-real time.

Why does low latency offer a better service for those who handle enterprise merchant charges?

Having low latency in your e-commerce, mobile app, streaming services and others; impacts in multiple positive ways to both PSPs or orchestrators, as well as the end user:

- Improved user satisfaction: The faster and more efficient the payment process, the more highly valued the service will be, which may define the loyalty and retention of that user.

- Increases conversion: Reduced latency times lead to higher conversion rates. The faster and simpler the purchase process, the more likely consumers are to complete it.

- Reduce shopping cart abandonment: When the checkout process is slow, complicated or requires many clicks to complete the purchase, customers may abandon their carts before completing the transaction. By improving latency times, we reduce this probability.

- Increased operational efficiency: Processing payments faster and more efficiently can positively impact the costs associated with transaction management.

- Boosts competitiveness: In sectors such as transportation contracting, sports betting, gambling, e-commerce or financial services, where speed is key, low latency is an important competitive factor to gain an advantage over competitors.

How to improve latency for businesses that process high volumes of transactions in seconds?

UNIFICATION

Most payment platforms that process enterprise merchant charges have 3 simple steps to quickly credit a transaction:

• Tokenization
• Preauthorization
• Capture

At Kushki we optimize the transactional response process by unifying tokenization and pre-authorization, thus achieving low latency and a better user experience.

It should be noted that for security and sensitive data management reasons, this unification is only available for enterprise businesses, PSPs, orchestrators and others that have their PCI compliance certification active.

Every second counts! Leave your competitors behind and accelerate your business with Kushki, the regional non-banking acquirer that offers you low latency on every transaction.

Contact a consultant here and let the race begin!