OpenPath is a payment orchestration layer that integrates with over 200 gateways and processors to streamline eCommerce transactions and enhance checkout conversions. By utilizing its Open Decline Capture feature, the platform reduces transaction declines by 30% and increases revenue by 10%, while assuming chargeback liability for purchased declines.
Funding
$2.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
E-commerce businesses face challenges with declined transactions, leading to lost revenue and customer dissatisfaction. Traditional payment processing limitations and fraud prevention measures often result in legitimate transactions being incorrectly flagged and rejected. Managing chargebacks and integrating with multiple payment gateways adds further complexity and costs.
Solution
OpenPath provides a payment orchestration platform designed to streamline e-commerce transactions and maximize checkout conversions. The platform integrates with over 200 payment gateways and processors, offering features like intelligent payment routing, decline recapture, and fraud prevention. OpenPath's Open Decline Capture feature reduces transaction declines by automatically retrying failed payments through alternative processors or methods, increasing revenue and improving customer experience. The platform also provides tools for chargeback management, fraud monitoring, and detailed payment analytics, enabling businesses to optimize their payment processes and reduce operational costs. By assuming chargeback liability for purchased declines, OpenPath reduces financial risk for merchants.
Target Audience
OpenPath primarily targets e-commerce businesses of all sizes that seek to optimize their payment processing, reduce transaction declines, and improve overall revenue.
Features
- Integration with over 200 payment gateways and processors for flexible payment routing
- Open Decline Capture to automatically retry failed transactions and reduce declines by 30%
- Fraud prevention tools to identify and block suspicious transactions
- Chargeback management features to automate refunds and manage disputes
- Multi-processor support for redundancy and increased payment processing capacity
- Support for various payment methods, including credit cards, Apple Pay, Split Pay, e-check (ACH), and PayPal
- Real-time payment analytics and reporting to track performance and identify areas for improvement
- Plugins and apps for seamless integration with popular e-commerce platforms like Shopify, WooCommerce, BigCommerce, and Adobe Commerce