The platform helped customers save $14.7 million in acceptance costs across more than $1.2 billion in eligible transaction volume compared to standard card-not-present rates, Boost said on Tuesday (June 23). press release.
Boost certifies that 99.99% of transactions processed through its platform meet CEDP requirements, and the company’s pre-financing model ensures its customers take advantage of qualifying rates immediately, according to the statement.
“What emerges is a higher standard: data that is accurate, complete, and verified at the moment of processing,” Founder and CEO of Boost Payment Solutions Dean Levitt he said in the release. “Businesses that embrace this transformation early will unlock real, measurable benefits. At Boost, we have long believed that smarter data is the foundation of smarter payments, and the way we facilitate CEDP transactions validates this thesis industry-wide.”
Boost’s technology automates the analysis and validation of invoice-level data in real-time to ensure a transaction meets CEDP qualification thresholds, its AI capabilities maintain the accuracy the software requires, and the payments gateway as a service expands this capability by acquiring partner wallets, according to the release.
“Every product decision we made for CEDP came down to making onboarding easy for our customers while ensuring their data goes through network audit every time,” Chief Product Officer at Boost Payment Solutions Zachariah Held he said in the release.
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When Visa launched CEDP in October, Boost said it was fully prepared to support its customers through CEDP and that 99.96% of Transactions It has been processed through its platform and has already met the CEDP requirements.
PYMNTS reported in October that CEDP made one of the most sweeping changes to… Exchange qualification For decades, it directly links low interchange rates to the accuracy and transparency of transaction data provided by the supplier.
CEO Levitt told PYMNTS Karen Webster In an interview published at the time: “It’s all about validating the data and making sure it’s accurate and real so the supplier can enjoy a lower exchange rate.”
In April, Visa’s CEDP officially eliminated Tier 2 Exchange programReplacing old incentive structures with a new exchange system.
