Smart payments provider will enable immediate setup API to Swiss merchants and acquiring services to European Countries for leading Swiss payment facilitator
TEL AVIV, Israel, Feb. 9, 2021 /PRNewswire/ -- Today, smart payments provider and merchant acquiring bank, Credorax, and Swiss-based international online payment facilitator, Payrexx, announced a partnership to provide Payrexx merchants with Credorax's smart acquiring solution across Europe. The close collaboration will enable Payrexx to provide quick onboarding and best-in-class personalized acquiring services for Swiss merchants, while bolstering Credorax's presence in the Swiss region.
Through the partnership, Credorax will work with Payrexx locally in Switzerland as a payment facilitator, and globally as a payment service provider (PSP). As a payment facilitator, Payrexx will have access to Credorax's 'Immediate Setup API' functionality, allowing merchants to instantly set up sub merchants with a transaction scale. Payrexx will retain ownership of the merchant relationship and continue to control the payment and onboarding experience with KYC and settlement reliance, enabling Payrexx to offer their merchants a quick and smooth onboarding using Credorax technology.
Additionally, as a PSP, Payrexx merchants in Europe will have access to Credorax's tailor-made acquiring solution including smooth and quick onboarding, approval rate optimization and analysis, value-added business services, and proactive 24/7 merchant account monitoring. This is in addition to the many other benefits Credorax offers, such as telecom-grade (99.999%) availability for processing payments, designed to maximize business growth and optimise operational processes.
"We are excited to offer our robust services to the leading local Swiss payment facilitator," said Igal Rotem, CEO of Credorax. "Our smart acquiring services, quick onboarding and immediate set up API will allow Payrexx to deliver the best possible online payment services to its European merchants, while our smart payment services will enable them to reach more merchants as they continue to expand. We look forward to working closely with Payrexx to ensure our personalized services meet their diverse payment needs as they continue to grow as a European leader in the payments industry."
Small and medium enterprises represent 99% of all business in the European Union. With the increase in e-commerce and online purchases in 2020, small and medium enterprises must digitalize their shops in order to stay competitive. Through this partnership, Payrexx will be able to offer their European merchants the quick, seamless, reliable onboarding required to ensure their payment processing systems are efficient and effective, as well as best-in-class approval rate monitoring and unmatched currency management for over 120 currencies across Europe.
"Our number one priority is to create a seamless payments process for all of our merchants, and Credorax provides the perfect tools to allow us to do precisely that," said Ivan Schmid, CEO and Co-Founder of Payrexx. "With its robust and scalable solution, and customer-centric approach, Credorax was the clear choice when looking for an acquirer to support our growth. As we continue to expand our European footprint, we feel confident knowing we have access to Credorax's holistic suite of payment services, which we can in turn offer our merchants."
Credorax is a smart payments provider and fully licensed merchant acquiring bank providing cross-border processing for eCommerce and omni-channel payments. Our gateway technology, Source™, has been developed in-house to provide a streamlined payment experience so smart and secure, that merchants can reach their full business potential simply by better managing their payments. Credorax merchants can accept more than a hundred cards and local payment methods and get paid in their currency of choice. Our merchants also enjoy best-in-class approval rate optimization, advanced anti-fraud protection, business intelligence and a host of other value-added services and products adding up to a payments experience unlike any other. To learn more, contact us at [email protected] or visit www.credorax.com.
Payrexx was founded in Thun (Switzerland) in 2015 and, as a payment service provider, has specialized in the technical processing of digital payment methods. Payrexx operates a self-developed payment platform that is already used by 30,000 customers - all systems are redundant, guarantee the highest level of security against failure and are certified according to the strict PCI-DSS Level 1 guidelines.
With Payrexx's flexible self-service tools, businesses, organizations, public institutions as well as individuals can accept online payments within minutes. Whether merchants are building a marketplace, mobile app, online store or subscription service, Payrexx's sophisticated APIs and comprehensive range of features allow organizations to create the best possible product for their customers. Payrexx also offers customized platform solutions for large customers such as Annanow, University of Bern, e-Abo, Swissbrain, Alltobill, Grünliberale Partei Schweiz, PostFinance, Hypothekarbank Lenzburg, WIR Bank and Langlauf Schweiz.
Furthermore, Payrexx offers over 40 payment providers and more than 200 payment methods and currencies from all over the world with one single interface. The company works neutrally and independently and gives online merchants every freedom in choosing their financial partners.
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Head of Marketing, Credorax
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Head of Marketing, Payrexx
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