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Credorax Partners with Payrexx to Provide Quick Onboarding and Smart Acquiring Services, Streamline Payment Processes Across Europe

Credorax Partners with Payrexx to Provide Quick Onboarding and Smart Acquiring Services, Streamline Payment Processes Across Europe | Fintech Finance

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 onboardingapproval 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.”

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