Payment service provider Computop and global merchant acquirer Credorax partner to facilitate cross-border e-commerce payments for global businesses.
Credorax’s ePower acquiring platform will be integrated into Computop’s payment platform Paygate, enabling Computop’s merchants to process payments made in all major currencies across the globe, all on a single platform.
The system will go live end of the second quarter and it will support Visa and Mastercard transactions globally.
Optimised interchange costs and approval rates
The combination of Credorax and Computop technologies will provide users with a single payment and acquiring platform that offers local BINs for optimised interchange costs and approval rates.
The technology is flexible and can grow with the merchant’s changing business needs. It enables processing in all major currencies and provides real time data analysis and a unique business intelligence (BI) platform that converts unstructured data into information that merchants can use to analyse and grow their businesses. The solution will be supported with business services, tools and a full customer care programme.
Worry-free payment solution
Andre Malinowski, Head of International Business at Computop commented: “This partnership will enable merchants to process transactions internationally, reducing costs and card declines. We expect it to increase customer satisfaction, minimise chargebacks and improve conversion rates.”
“Computop chose Credorax due to its innovative acquiring solution that covers a range of continents and currencies on a single platform. By integrating Credorax into Computop Paygate, we are allowing merchants to take advantage of local and international card acceptance while benefiting from our large scope of accepted local and alternative payment methods. That’s a worry-free payment solution for companies with global expansion plans.”
Founded in 2008, Credorax is one of the first technology companies to have evolved into a licensed commercial bank that specialises in merchant acquiring, as well as the first bank developed specifically for the e-commerce sector. Credorax is licensed in Europe to process across 36 EU & EEA countries as well as holds licenses in Asia and North America.
Computop is a leading global payment service provider (PSP) that provides compliant and secure solutions in the fields of e-commerce, POS, m-commerce and Mail Order and Telephone Order (MOTO).
The company, founded in 1997, is headquartered in Bamberg, Germany, with additional independent offices in China, the UK and the US. Computop processes transactions totalling $14 billion per year for its client network of over 10,000 large international merchants and global marketplace partners in industries such as retail, travel and gaming. Global customers include C&A, Fossil, Metro Cash & Carry, Rakuten, Samsung and Swarovski.
Following the recent asset deal with the Otto Group, Computop is now processing payments for merchants that previously used EOS Payment, including all 100 Otto retail brands. In cooperation with its network of financial and technology partners, Computop offers a comprehensive multichannel solution that is geared to the needs of today's market and provides merchants with seamlessly integrated payment processes.
Article sourced from Press Release by Computop, May 9th, 2016