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CompanyProfile

Instantly turn

ecommerce declines

into approvals

e'ev Shoval missed an important Uber ride ISO/MLS contact:
when his card was declined, an unlikely event
considering his excellent credit rating and Ze'ev Shoval
Z account in good standing. Instead of shrugging
it off, he partnered with Elio Vitucci, a former colleague, Co-founder and Chief Commercial Officer
to investigate the problem. After unearthing an array https://flex-charge.com
of payment processing inefficiencies, they established
FlexCharge in 2021, an AI-driven platform designed to zeev.shoval@flex-charge.com
instantly review and recover failed ecommerce transac- 972 54-5333724
tions at no risk to merchants and no cost to consumers.

FlexCharge co-founders Vitucci and Shoval, who serve as
chief commercial officer and CEO, respectively, leveraged
decades of experience in advanced credit score modeling Additionally, FlexCharge platform and AcceptIQ are de-
at Experian and other global enterprises to create Ac- signed to benefit all stakeholders in the ecommerce value
ceptIQ. The flagship solution, they noted, can convert re- chain, which McHugh summarized as follows:
jected sales to accepted transactions in real-time without • Merchant value: Merchants can leverage advanced,
alerting customers. Shoppers whose transactions are de- real-time technologies to convert declines into ap-
clined can click an okay button to checkout using credit; provals, helping to improve sales and customer
debit; buy now, pay later; or other payment methods—all lifetime value. FlexCharge assumes fraud and cred-
supported by the platform, they added. it risk for all rescued transactions, which are dis-
played on its secure merchant portal.
Pointing out that more than 50 percent of consumers
abandon shopping carts due to declines, Shoval stated • Customer value: Shoppers who would have other-
AcceptIQ can reduce churn by stepping in as Merchant of wise been declined can click okay and check out
Record to purchase the invoice of a declined transaction, with their preferred payment method without hav-
fund the merchant and enhance the customer experience. ing to register for the service or share additional
"We're always there, in the background," he said. "Our job information.
is to maximize revenue by rescuing declines and creating • Partner value: FlexCharge partners, including mer-
a zero-friction customer experience." chant level salespeople, merchant acquirers, gate-
ways and payment processors, benefit from the
Increase retention, revenue company's advanced, proven and highly scientific

Philip McHugh, payments industry leader and former approach to ecommerce acceptance optimization.
Paysafe CEO, joined FlexCharge as investor and execu- Real-time ecommerce decisioning
tive director in 2022. Noting that Shoval and Vitucci are
payments industry outsiders, he commended their fresh, "You'd be surprised how many sales are lost due to simple
pragmatic approach to solving declines. "Elio and Ze'ev technicalities," McHugh said. "FlexCharge brings a wider
came into our industry asking simple questions and at- set of information to help our partners and their mer-
tacking problems in a unique way," he said. "This outside- chants make effective real-time decisions across all error
in approach has been providential for us, our partners codes."
and our clients." FlexCharge is committed to improving
payments acceptance rates, but never at the cost of the Vitucci agreed, stating the FlexCharge cloud native tech-
customer and will continue to evolve its technology stack nology stack builds on market-leading data and credit
and solutions in response to everchanging compliance, models that drive sophisticated decisioning and instantly
privacy laws and regulatory environments worldwide, solve complex issues at a transaction's last mile. Given
McHugh added. the complexity of processing rules, he added, there are
billions of reasons why transactions may fail, and Flex-
Customer promise, stakeholder value Charge can help maximize outcomes across all payment
types. Pointing out that advanced, real-time credit deci-
McHugh further noted that FlexCharge has stayed true to sioning has long been a hallmark of healthcare, insurance
its founding principles and customer promise: "Custom- and other industries, McHugh said FlexCharge can help
ers get the product they want, using the payment method acquirers win back some of the $500 billion lost each year
they choose, leveraging existing credit lines or limits, at to declines.
no additional cost to them."
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