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ProcessOut has evolved a lot since I've covered the startup. The company now has a ton of big and small customers, from Glovo to Sale-Privé and Dashlane. The company has become an expert provider of payment and payment badysis.
The core of the product remains the same. Customers sign up for an overview of the performance of their payment systems. After configuring ProcessOut Telescope, you can monitor payments with high fees, failed payments and disappointing payment service providers.
And this product is quite successful. By October 2018, the company had been monitoring transactions worth $ 7 billion since its inception. Last month, that number reached $ 13 billion.
The company adds new features to facilitate the collection of information about your payment data. You can now customize your data visualization dashboards with a custom scripting language called ProcessOut Lang. Thus, if you have an internal payment team, it can detect problems more easily.
ProcessOut can also help you generate reports. The company can match the transactions in your bank account with the transactions of different payment providers.
If you are a small business and you can not optimize your payment module yourself, ProcessOut also creates a payment widget with smart routing. When a customer pays something, the startup automatically matches the card information with the best payment service provider for that particular transaction.
Some providers accept very well all legitimate transactions, such as Stripe or Braintree. But they are also more expensive than traditional payment service providers. ProcessOut can predict whether a payment service provider will reject that customer before transferring the transaction to that partner. This results in lower fees and a lower rejection rate.
The company recently added support for more payment service providers in Latin America, such as Truevo, AllPago and Mercadopago. And ProcessOut is now shipping more transactions in one day compared to the entire month of October 2018.
As you can see, the startup is good. It will be interesting to keep an eye on it.
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