Modo, the bank-grade fintech-as-a-service platform, today announced the addition of 14 West Administrative Services as a client. 14 West is the business services arm for The Agora Companies, a network for more than 40 of the world’s most innovative media and marketing companies. Modo was brought on by 14 West to simplify their payments stack by optimizing the dozens of global payments integrations into one interface. This will allow 14 West to streamline complex orchestration and payment routing options, and mitigate the risk of false declines and failures.
Currently, 14 West has multiple payments service providers which requires them to maintain connections to a multitude of payment processing integration end-points and support various local payment methods in their checkout. And The Agora Companies’ plans to continue expanding internationally into Latin America, Eastern Europe, and Asia Pacific in turn expand the need for even more processing and payment method end-points. As new payments partners are added, the complexity of the payments stack increases operationally, financially, as well as in terms of customer experience and data security. Now, with one single connection to Modo’s API, 14 West has access to the broad market of payment services, in a consistent, complete form.
The growth planned by The Agora Companies into new geographies will require several additional processors and payment methods. But by using Modo, the complexity of 14 West’s payment stack will not be affected. Operational activities, like refunds, will work the same way every time for every payment method. Modo is also allowing 14 West the flexibility to add new billing engines, end-points and e-commerce front ends without having to change any of their payments infrastructure as these systems are added.
“We have been very impressed with Modo’s capabilities and technology,” says Daryl Berver, COO for 14 West. “Their product enables us to focus on the core values of 14 West – to innovate and perpetually improve the customer experience. Modo is thinking about how payments will be done 30 years from now – not how they have been done for the past 30 years.”
“We are beamingly proud to work with 14 West, and to help them straighten out the maze of payments services they’ll need as they continue to expand globally,” says Modo CEO, Bruce Parker. “14 West has repeatedly proven themselves to be on the cutting edge of payments and digital experiences, and we’re thrilled to have been chosen as the best partner to help achieve their next level of innovation, without getting bogged down by payments complexity.”
The Modo team will be introducing their merchant-focused checkout product at Shoptalk on March 3-6. Meet the Modo team at the show to learn how Modo’s payments technology can reduce overhead cost and increase conversions for online checkouts by connecting them to the market of payments services.
Modo is the bank-grade fintech-as-a-service platform that connects merchants to the market of payment services providers. A single connection to Modo’s API allows merchants to manage and optimize their various payment services – from alternate payment methods and eWallets to card processors and acquirers. As a 99¼% pure technology solution, Modo reduces the friction that occurs in connections between payment systems, without entering the money flow. Merchants can accept more payment types from more providers with lower decline rates at a lower cost, while maintaining control of both their customer data and their checkout experience without all the usual payments complexity. Modo’s current market participants include 14 West, Klarna, FIS, Etihad Airways, Bank of America Merrill Lynch, and Deutsche Bank among others. Head to modopayments.com to learn more!
About 14 West
14 West is the business services arm of The Agora, a network for more than 40 of the world’s most innovative media and marketing companies. By relying on 14 West, The Agora Companies enjoy the unique luxury of focusing on the work they want to do – not the work they have to do. These expert teams deliver thoughtful administrative and technical guidance and support to business leaders in an ever-evolving marketplace. To 14 West, passion is a critical ingredient in the services its teams provide. And the goal is to deliver sustainable solutions that promote perpetual growth. To learn more about 14 West, visit 14west.us.