Testlio Clients Achieve Estimated 5x ROI on Payments Testing
Company drives effort to reduce $1.1 trillion in failed digital payments.
Austin, TX, July 9, 2024 – Testlio, a leading quality management company, today announced that its clients achieve an estimated 5x return on investment (ROI) through its payments testing services. This milestone underscores Testlio’s pivotal role in mitigating the critical issue of failed digital payments, which cost businesses an estimated $1.1 trillion annually.
As the digital payments industry undergoes rapid transformation, the need for robust and comprehensive payment testing solutions has never been more crucial. With over 10% of online transactions failing, businesses are increasingly seeking reliable partners to help improve transaction success rates. Testlio has stepped up to meet this demand by providing cutting-edge managed payment testing services that help drive revenue growth for its clients.
Testlio’s payment testing services have been instrumental for top payment system providers such as PayPal, Apple, and Western Union. Through strategic client relationships, Testlio has helped enhance the success rates of their processed payments, ensuring smooth transactions for millions of users globally. Additionally, prominent consumer companies like Etsy, Wayfair, and Warner Bros. Discovery, along with leading fintech firms such as BitPay and Uniswap, have turned to Testlio to tackle their payment testing needs.
The managed software testing capabilities of Testlio have empowered organizations to detect payment failures early, proactively identify and resolve payment issues, and introduce new payment methods in multiple markets. By rigorously combining expert humans and AI-powered machines, inclusive of testing in-field before production releases, Testlio’s solutions ensure cross-border reliability, validate modern payment device integrations, and verify compliance with legal requirements, local regulations, and billing standards.
“By leveraging Testlio’s advanced payment testing services, our clients have protected revenue and customer satisfaction through seamless, reliable payment experiences,” said Steve Semelsberger, CEO of Testlio. “Our managed quality assurance solutions are designed to help reduce digital payment failures, directly impacting our clients’ core revenue pathways.”
“Over the last year, Testlio has discovered and helped us avoid dozens of payments-related issues ,” said Daniel Pardes, VP of Digital Product, Away. “We are grateful for the partnership and see clear revenue benefits of working with Testlio.”
Testlio’s skilled team of testing leaders collaborates closely with clients to deliver tailored payment testing solutions. Leveraging real people, real transactions, real devices, and advanced automation capabilities, Testlio offers access to 800 payment methods, 600k+ devices, and a global network of 10k+ quality experts in over 150 countries. This extensive coverage makes Testlio the most comprehensive and flexible payment testing provider in the market.
The estimated 5x return-on-investment (ROI) for Testlio’s clients is derived from a series of assumptions, acknowledging that Testlio serves a wide range of clients with varying revenues. The company assumed average annual digital payments revenue of $100 million per client. With an industry average of 10% of transactions failing before Testlio, improving 10% of these failed transactions (1% of total transactions) would potentially lead to a revenue boost of $1 million per year. Clients spend an average of ~$200,000 on Testlio technology-enabled services annually, leading to an estimated 5x ROI.
The importance of reliable payment systems is underscored by recent findings from Apple, which revealed that the App Store stopped over $7 billion in potentially fraudulent transactions in 2024 alone. This further highlights the critical need for rigorous payment testing measures to ensure smooth and secure transactions, an area where Testlio excels.
As the global payment processing market is projected to grow at a compound annual growth rate (CAGR) of 19% from 2021 to 2030
About Testlio
Testlio is a leading quality management company. Its unique approach combines humans and machines to help digital innovators assure quality products at scale. On 600K+ real devices. In 100+ languages. With 800+ payment methods. The company is 100% remote, with people in 150+ countries. It is female-founded; 46% of full-time people are women. Clients include Amazon, athenahealth, Match Group, Microsoft, the NBA, Netflix, PayPal, SAP, Uber, Wayfair, and many more. To learn more, visit www.testlio.com.