Billfold Selects Elastic Path to Bolster Customer Experience and Drive Revenue
EP Payments Provides Optimized Payment Operations and White Glove Service
BOSTON, March 8, 2023—Elastic Path, the leader of the Composable Commerce Movement, is announcing that Billfold has selected EP Payments, powered by Stripe, to optimize its payment offering, which includes expanding payment methods. Billfold’s cashless wristbands and wireless point-of-sale (POS) stations help event organizers drive revenue and power exceptional experiences at festivals and live events.
EP Payments streamlines payment operations for Billfold users comprised mainly of live event operators. Now, Billfold will be able to support offline credit card functionality as well as offer additional mobile payment methods, such as Apple Pay. With customer experience at the heart of every interaction, EP Payments equips Billfold customers with more cashless payment options and a top-notch experience thanks to Elastic Path's commitment to customer success.
“Our objectives are simple: reduce operational headaches and ensure a seamless and efficient contactless payment experience,” said Billfold CEO and co-founder Stas Chijik. “There’s no margin for error in this business—EP Payments’ robust functionality and exceptional support are key to the success of our customers in what might be their only event of the year.”
The benefits of EP Payments include higher checkout completion rates, increased payment acceptance, and lower fraudulent transaction rates. Features include:
- Payment methods for all business models: Subscriptions, Digital Wallets (i.e. Apple Pay, Google Pay, etc.), Buy Now Pay Later, POS machines, one-click checkout, and more.
- Fraud management: Increase top-line revenue with decreased false positives on credible transactions. Every year, businesses lose an estimated 3% of their revenues to false positives.
- Network-wide acceptance: Avoid declines due to network issues or unrecognized cards with automated re-tries and credentials updates.
- Powering global brands: Offer payment acceptance in 135+ currencies. Provide up to a 46% increase in sales after enabling local payment methods.
- Best-in-class security: Compliance with the most current standards, including PCI DSS Level 1, PSD2 (EU), and SCA.
- Unified reporting: Centralized dashboard for real-time metrics reporting.
“Billfold is an innovative, highly-customized payment solution with the kind of backend complexity that EP Payments was created to serve,” said Tamra Gray, vice president of payments at Elastic Path. “When it comes to ensuring that the end-user experience is easy and delightful, there are no second chances. Elastic Path’s technology ensures that every transaction is seamless regardless of the many variables that come with serving customers in the live entertainment space.”
Earlier this month, Elastic Path announced One-Click Checkout with EP Payments, increasing checkout speed by 9x and driving up to 7% higher conversions for in-network shoppers.
Jill Rosenthal for Elastic Path
About Elastic Path
Elastic Path is the company powering mission-critical digital commerce for the world's leading brands, such as Intuit, Pella, Deckers Brands, T-Mobile, and over 250 other leading brands. As relentless innovators, Elastic Path pioneered the Headless Commerce space in 2011 and spearheaded Composable Commerce in 2020. Elastic Path provides industry-leading headless commerce solutions for digitally-driven brands to rapidly build, deploy, and continuously optimize highly differentiated commerce experiences. Elastic Path is a global company with offices in Boston, Newcastle, Reading, Toronto, and Vancouver.
Learn more at www.elasticpath.com