Deriv, celebrating its 25th anniversary, has established itself as a leader in the online trading industry. Trusted by over 2.5 million clients worldwide, they offer an expansive range of trade types and boast over 300 assets across popular markets on award-winning, intuitive trading platforms. Deriv’s commitment to innovation, client satisfaction, and exceptional customer support has garnered numerous accolades, including the recent “Most Trusted Broker” at the Ultimate Fintech Awards 2024.
For over six years, Deriv has maintained a strong partnership with Acquired.com, leading UK payments specialist and payment initiation service provider. This collaboration has been instrumental in streamlining Deriv’s payment management processes, allowing the company to enhance its service offerings effectively.
The challenge
Implementing Mastercard Send
In August 2024, Acquired.com supported Deriv in implementing Mastercard Send as part of their payment strategy, focusing on select markets in regions such as Africa, the Middle East, and the Caribbean. Mastercard Send allows users to send and receive money across borders in real time. This innovative, interoperable global platform facilitates rapid and secure fund transfers across various payment flows, including disbursements and cross-border person-to-person (P2P) payments.
Acquired.com worked closely with Deriv to integrate Mastercard Send into their existing payment infrastructure. The solution was designed to complement Deriv’s use of VISA Direct, which was already facilitated through Acquired.com’s platform. This multi-pronged approach aimed to provide Deriv’s customers with increased flexibility, speedier access to funds and greater efficiency in their transactions.
The Results
Increased success rates & customer satisfaction
The implementation of Mastercard Send through Acquired.com’s platform yielded impressive results for Deriv:
High Success Rate: Within just one month of implementation, Mastercard Send achieved high success rates, with the most recent month achieving a 90% success rate on Deriv’s platform.
Improved Customer Experience: Customers gained an additional speedy withdrawal option, allowing them to gain access to their funds within minutes, enhancing overall satisfaction and reducing transaction-related inquiries.
Operational Efficiency: Deriv experienced increased user engagement and an improved capacity to handle higher transaction volumes.
Complementary Solution: Mastercard Send effectively complements the existing VISA Direct option, providing greater flexibility in transaction options for customers.
Derek Swift, Head of Client Funding Facilities at Deriv, emphasised the value of this partnership: “Our partnership with Acquired.com has been absolutely essential in helping us streamline how we manage payments at Deriv. Their Mastercard Send solution has been a game changer, allowing us to optimise and handle transactions efficiently while delivering a smooth experience for our clients.
What makes this partnership even more valuable is the close collaboration we have with Kimberley, who is part of the Acquired.com account management team. We’re always on the same page, which allows us to quickly respond to new needs or changes. Acquired.com’s deep understanding of the sector, combined with their advanced technology, has really solidified them as a key partner in our growth. We’re excited to continue building on this relationship as we expand our services.”
Future Outlook
The success of Mastercard Send implementation has positioned both Acquired.com and Deriv for continued growth and innovation in the online trading payment space. As Deriv continues to gather insights to optimise and expand its use of Mastercard Send, Acquired.com remains committed to supporting their journey with advanced technology and a deep understanding of the sector.
This case study demonstrates how Acquired.com’s payment solutions can enhance a company’s payment ecosystem, improving customer experience and operational efficiency in the dynamic world of online trading.
