xpate’s next-generation payment solution Links will provide end-to-end operational risk and fraud management for Latvian bank’s payment services

Industra, Latvia’s leading SME-focused bank, has teamed up with xpate Links, an easily deployed turnkey payment gateway solution complemented by fraud control, dispute management, reporting and an extensive scope of consultancy support, to help streamline the bank’s acquiring process as it expands its payment services to meet accelerating demand. 

With soaring ecommerce volumes expected to hit $4.89 trillion in 2021, acquirers are on a quest to lower operational risks, cut costs and optimise payment flows. Links – xpate’s new turnkey payment solution – will deliver intelligent risk management and monitoring, comprehensive dispute management, including processing of all dispute stages for INDUSTRA as it gears up to provide enhanced acquiring services for its small and medium enterprise clients.

Launched in March 2021, xpate Links is a fast, single and unified solution designed to meet growing demand from acquirers amid soaring ecommerce volumes and an ever-increasing range of touchpoints, at a time when outdated legacy platforms are struggling to keep up with surging transaction volumes worldwide.

Offering global online omnichannel payment card acceptance, including Visa and Mastercard card processing, the Links white-label payment gateway is integrated directly with Industra’s payment processor, and on behalf of Industra collaborates with the processor’s incident management system.

Including intelligent and intuitive fraud control and management capabilities Links’ core strengths include: 

• Individual fraud prevention set up at an acquirer and merchant level.
• Transaction monitoring, combined with manual transactions’ review.
• Setup of acquirer’s AML defined processing limits and sanctioned country lists.
• Control fraud levels within IPS thresholds. 

Viktorija Raizina, Managing Director of xpate Links, commented: “Around two-thirds of acquiring growth is expected to come from ecommerce channels by 2022, with the traditional acquirer processing model being left behind as merchants seek more holistic solutions which unify all touchpoints.

Acquirers increasingly want a simplified operational flow that takes the complexity out of their day-to-day business operations and helps them expand faster with increased payment acceptance rates. As the world recovers from the pandemic, it is crucial that acquirers look to cut costs and optimise payment flows to meet surging ecommerce volumes and future demand.”

The in-built flexibility of xpate Links means that it can quickly adapt to a merchant’s information or status amendment, and clients get the reassurance of 24/7 technical support including payment gateway integration activities, testing and consulting. Comprehensive fraud and dispute reports are also generated and provided to acquirers, removing yet another administrative burden.

Yuri Adamovich, Chairman of the Supervisory Board, at INDUSTRA, added: “xpate has enabled us to focus on revenue recovery through simplified and automated dispute and risk management. Thanks to its cutting-edge functionality, in-house fraud and dispute specialists are no longer required, as Links manages all fraud and dispute control, including merchant issue and dispute cycles resolution.

With the difficult payment aspects taken care of, we are free to focus on what’s important – our customers. Our ambition is to become the bank of choice among small and medium Latvian businesses, and we are expanding payment services across a growing number of channels. With Links, we can provide our customers with cutting-edge ecommerce acquiring capabilities.”