According to a 2022 study on The True Cost Of Downtime by Trillio, we learned that:
- Nearly half of all data disruptions caused lost productivity.
- Over 30% of outages resulted in a direct revenue loss.
- About 40% of service disruptions led to some form of brand reputation damage.
- 43% of organizations experienced data loss as a result of outages.
- Nearly 50% of data outages caused employees to work overtime.
Sadly, the more frequently you experience downtime, the higher the cost to your organization. Even if a single sale got ruled out because of service downtime from your provider, it is still a loss for the business. For example, companies that frequently experience downtime have 16x higher operational costs than those that don’t — according to LogicMonitor’s IT Outage Impact Study.
Despite the many downsides of downtime, many businesses remain undeterred and relentless, which is good. But they would need a more reliable payment partner to stay ahead of their competitors!
Who Are We?
We are Redbiller — a Payment Service Provider on a mission to make the internet safer for businesses to innovate and expand.
Redbiller offers multiple options to send and receive payments, pay bills, verify individual and corporate identities, and provide collaboration tools for teams to seamlessly collaborate, offer customer support, and transact in a highly controlled environment.
How We Solve the Billion Dollar Problem — Downtime
While downtime may persist for many Payment Service Providers, Redbiller intelligently routes transactions through multiple channels to ensure you get paid and successfully make payments. Additionally, our systems accommodate high traffic such that even when you run promotions and your sales exponentially grow overnight, you wouldn’t lose a single sale to your competitors due to downtime.
And with cyberattacks being one of the causes of downtime, Redbiller provides you with security mechanisms such as 3D Authenticator to prevent unauthorized debits on your account when you use our APIs and Login Guard to prevent unauthorized login attempts to your account. So whether you interact with Redbiller via the API, mobile, or web application, rest assured you are protected 24/7.
If you are a retail business or a service provider, with Redbiller, uninterrupted services are what you can boldly promise your customers. Every organization, regardless of size, has something to lose, even with just a few minutes of downtime.
Never again will your business be interrupted by downtime caused by your payment partners!
Conclusion
Payments have evolved over the years and will continue to do so with the infusion of new technologies. However, this evolution has trained consumers to continue to ask for more. And as a business, the responsibility falls on your shoulders not only to make payment seamless but also to provide customers with enough payment options. Customers love it when they have options!
Redbiller is a step in the right direction. So begin that journey today by creating a free account at www.redbiller.com.
#GrowWithRedbiller
PS: Redbiller is also available for personal use.
