Credorax and Payrexx to provide smart acquiring services across Europe

By Megha Bhattacharya

Smart payments provider Credorax and Payrexx, a Swiss online payment facilitator, announced a partnership in a bid to enable the latter to offer quick onboarding and customised acquiring services for Swiss merchants. The collaboration will see Credorax work with Payrexx in Switzerland as a payment facilitator and as a payment service provider (PSP).

“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 setup 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.”

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.

“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.”

According to Credorax, Payrexx merchants in Europe will be enabled to access its customised acquiring solution including smooth and quick onboarding, approval rate optimization and analysis, value-added business services, and proactive 24/7 merchant account monitoring.