ConnexPay rolls out GBP, EUR real-time B2B payments in Europe
By Gloria Methri
US-based PayTech ConnexPay has expanded its global footprint with the launch of British Pounds (GBP) and Euros (EUR) currencies. The company has operated for years in the European market, but this release allows ConnexPay the flexibility to receive and send payments in native currencies.
ConnexPay’s all-in-one platform allows merchants to have immediate access to incoming customer payments, which they can then use in real-time to fund virtual cards to pay suppliers. With ConnexPay, businesses no longer have to wait for incoming payments to clear before accessing those funds, a process that could take anywhere from days to weeks, causing cashflow problems for a company’s entire supply chain.
In addition, its payments solution integrates fraud prevention and chargeback management plus a fully-featured reporting and analytics suite – all inside a single platform with one contract, one reconciliation, and one team.
The company already has several international customers who now add the ability to transact in GBP and EUR. Enabling them to issue in multiple currencies globally is vital to these businesses, and there are a host of additional global companies that will be implementing ConnexPay’s solution and going live this month.
Bob Kaufman, Founder and CEO at ConnexPay, said, “After five years building our solution to great success in North America, we are excited to launch native currencies in Europe knowing that our solution is fit for purpose, global in scope, and simply connects payments.”
He added: “We have shown our international customers that having both card issuing and acceptance as a single solution can significantly increase efficiencies and lower the costs of both accepting incoming payments and making cross-border payments. I am thrilled to already have some innovative customers on board with the ability to issue in more currencies and continue to work with them to bring their services to customers across the globe.”
ConnexPay currently processes billions in volume and recently received a $110 million growth equity investment led by FTV Capital. The investment has been a major factor in enabling the PayTech to expand globally with a revolutionary product and the infrastructure to support rapid growth.
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