Editor’s note: We are happy to kick off a series of posts dedicated to our clients’ success stories. These case studies will help explain what Credorax does differently in order to help grow our partners and merchants’ businesses.
Credorax Success Stories
Wargaming.net, an MMO “free-to-play” online action games giant, provides a great lesson in becoming a global acquirer. Founded in 1998, Wargaming is one of the leaders in the free-to-play massively multiplayer online (MMO) market across PCs, consoles, and mobile devices.
By 2014, the company needed to decrease its global acquirers while minimizing fraud and payment card decline losses.
2015: A Year of Positive Results
Credorax partnered with Wirecapital, a European payment service provider (PSP), to provide an integrated and superior online payment solution. Credorax was able to shepherd Wargaming to the following positive results:
- Increased processing volume: up 200% over 2015
- Better approval rates: securing 83% approval rates, above the industry benchmark, in North American & Asian markets
- Worldwide reach: processing card transactions from 125 countries simultaneously during peak holiday season
- Fraud protection: over 1% decrease, a drastic cut, in fraud during 2015
Credorax’s Worldwide Agility Benefits Wargaming
As a European commercial bank licensed by the Malta Financial Services Authority (MFSA), Credorax acted as an acquirer, settling payments for Wargaming in Europe. In addition, Credorax was the preferred payment processor for two continents, North America and Asia, where the company secured an 83% approval rate – 6.3% above the industry benchmark – consistently throughout the 2015.
Credorax’s patented ePower global unified acquiring platform seamlessly processes payments from all over the world.
Credorax also employs a team of analysts who investigate why cards are declined. They use this knowledge to advise merchants on steps they must take to optimize their payments. By combining its ePower technology and expertise with Wirecapital’s PSP solutions and anti-fraud capabilities, the two companies met and exceeded Wargaming’s 2015 transactional goals.