Inside Credorax: Owen Busuttil on Constructing the Perfect Acquiring Solution


What should clients contemplate when selecting an acquiring solution for themselves or their merchants? As recent winners of the FSTech Online Technology Provider of the Year for our ePower 2.0 platform, we believe we are in a unique position to offer our thoughts! In this month’s Inside Credorax interview, we asked Owen Busuttil, Head of Solutions at Credorax, to shine a spotlight on his team and its critical role in our technological successes.

How do we get to the point at which customers say:

Credorax is different from its competitors by being a non-bank acquirer, which makes them more agile, more open for solutions. So looking together with us as a client towards an end solution. Less fixed form and fewer fixed structures, so more flexibility.’

Roland Maessen, Vice President Risk and Compliance, Digital River World Payments

What Solutions Architects Can Do for You

What are solutions architects, and what is their main function? To explain better, I like to use the following analogy: to build a customized house that satisfies the client,  the builder needs a blueprint that details what is to be built, plus where, why and how based on the homeowner’s requirements. The builder would have detailed meetings with the proprietor in order to understand and document needs, wishes and also current pain points. The Credorax solutions team follows the same concept when engaging with a client.  Each solutions architect accompanies our sales team to client meetings in order to design the technical and operational solution that Credorax will provide to the same customer. Our main objective is to match client requirements with Credorax capabilities, with the final goal of building the fundamentals for an excellent and fruitful business relationship. Furthermore, from a technological and operational level, our sales people also use the solutions architect as the SME to help them answer client queries related to Credorax products and the industry in general.

I strongly believe that our higher degree of flexibility, proximity and accessibility to the client set us apart from bigger players in the industry such as banks, which also have similar sales support structures. We don’t go to our clients with a fact sheet of fixed onboarding, processing and reporting solutions; Credorax is open to listening to the customer’s pain points and remains very close to the clients. Credorax does not focus solely on short-term solutions, but also takes pride in helping clients build a future-proof package. The solutions architect acts as a main contact point throughout the implementation process. We do this to ensure that even when implementations are difficult and complex, the final solution is what the client wants and needs.

A Day in the Life

Solutions architects touch upon three main pillars of acquiring that influence client experience as a whole:

  • Onboarding, which must be fast, efficient, safe and offer multiple solutions.
  • Processing, which must comply with card scheme rules, and be sophisticated, fast and safe. It must run over a perfectly redundant technology framework and must carry an excellent approval rate.
  • Reporting, which must be multi-channel, flexible, detailed, and in line with high technological standards.

To illustrate, I would like to share the experience of one of our partners, who has a great new concept for small – and medium-sized merchants. This model hinges on a quick and seamless merchant onboarding experience as the client’s main selling proposition. They want to do away with the traditional documentation transfer channels and replace these with a fast automation that functions end-to-end on a 24/7 basis. To satisfy this requirement, Credorax built an API that caters to this client’s current and future needs. Building this API required a great deal of analysis, design, testing, and implementation efforts, and Credorax wanted to provide a solution that went above and beyond the industry standard. I believe we achieved this, to the satisfaction of our client, while also bolstering our overall product offering.

Credorax was able to deliver such a solution, as well as many others, with the backing of a flexible back-office processing platform that can be configured to specific customer needs.

From a reporting perspective, Credorax boasts a very robust and efficient BI platform, which allows us to keep our reporting  above industry standards. We incorporate reporting flexibility to present our clients with the information they need using a multi-channel delivery approach that includes:

  • Insights, the Credorax online portal enables partners and merchants to easily view processing activity and analyze business performance
  • Push reporting, such as email or automated SFTP hand-off

The Credorax reporting suite contains various reporting types and formats such as fixed-format statements, entity-oriented portals and raw data machine-readable reports. The last category of reports are especially appreciated by clients who are sophisticated enough to automate processes, reconciliations, statistics and also load in their own portals. The customizations we can offer in the reporting space can be executed quickly, because of the robust and flexible framework that we build around it.

Although we do develop new reports if they are absolutely needed, behind the scenes there is a strong infrastructure without which report customization would not be possible. We have invested significant effort in combining data from different systems and harvesting it to create our suite of reports and all the flexibility around our offerings.

The Credorax systems and platforms have been built by people who understand the industry from a business perspective, who know the technology and above all strive to keep the client service aspect always as top priority. Our solutions architects know how to design packages to cover all the angles!

The Credorax Solutions Team

Our solutions team consists of six people. To be good client advocates, all of the solutions architects are on the ground to accompany salespeople whenever needed. Solutions architects are present in every jurisdiction where the Credorax sales team has a physical presence: in Atlanta to serve U.S. customers, in the United Kingdom, the Netherlands, and Shanghai to serve Chinese customers. Even though managing a team across continents and time zones has its challenges, we manage to be efficient by keeping a constant communication flow, and we take pride in our internal knowledge sharing methodologies, which keep everyone up to date in real time, all the time.

Many thanks to Owen for taking the time to share his insights with us!

If you would like to be in touch with Owen, click here to reach his LinkedIn page.

Dart to Copenhagen with Credorax for Money20/20

CRX_Blog_Money20.20 EU-LARGE-MAIN

Are you packing your bags? In early April, many players in the worldwide Fintech industry will gather in Copenhagen for Money 20/20. This conference concentrates on the disruptive opportunities and challenges the payments and financial services industry faces. We are excited that Credorax will participate in this Money20/20 event on the heels of our recent successes – including the last Money20/20 conference, held in Las Vegas in late 2015.

What will Credorax have to offer the payments community in Copenhagen? A mix of fun and Smart Acquiring experiences, in cooperation with our valued partners, arvato Financial Solutions and Computop.

Fun: Are You Ready for Some ‘Acquiring Darts’?

We wanted to make Money20/20’s first trip to Europe outstanding! A large group of attendees from payment companies, banks and merchants from all over the world will be there, in a natural expansion from Money20/20’s flagship event in Las Vegas. Our touch is a fun game to allow attendees to learn about the agile, “smart acquiring” experience Credorax brings to the table.

CRX_Blog_Money20.20 EU_Inner01_v.1.0


Team: Credorax + arvato Financial Solutions + Computop

We are proud to bring a large Credorax delegation to the inaugural European Money20/20, including our CEO, Igal Rotem.  We will be sharing a booth with Computop’s Andre Malinowski and arvato Financial Solutions’ Marco Jostes.

Expertise: Panel Discussion and More

We always look forward to Money20/20 and not only because it’s so much fun. It is also great opportunity for us to meet our partners and learn about the latest industry trends straight from the source, as well as sharing our views on the payment industry’s challenges and solutions.

Igal Rotem (see his welcome video here), our CEO, will discuss Cross-border disruption, challenges and opportunities, together with C-level personnel from Global Payments Inc., Saxo Payments and ONPEX. Add it to your calendar!

CRX_Blog_Money20.20 EU_Inner02_v.1.0

To give you a taste of what Credorax is doing and what Igal is going to share at the panel and with you at the Credorax booth, we wanted to briefly explain the challenges to the industry that Credorax identified back in 2013 — and how we are tackling them.

Credorax has evolved into a Global, Digital Acquiring Bank focused on the Merchant. We provide any merchant – regardless of size – with the ability to profit from untapped, new consumer & business e-commerce geographical markets that were not previously accessible to them.

Credorax opens these doors to merchants and payment service providers (PSPs) by resolving the three biggest obstacles for online businesses:

  • Laws and regulations: We are intimately acquainted with the regulatory hurdles faced by merchants as they enter new countries or continents. As a result, we ensured strong local presence in each country in which Credorax has business. To date, we have secured licenses in Europe, the US and Asia.
  • Tech: We built a technological solution to respond to the inherent frustration PSPs and merchants feel because they have to work with different payment platforms in local countries that can’t integrate or interact with each other seamlessly.
  • Equality between large & small merchants: We build a business paradigm that can simultaneously speak to small/micro/sole merchants as well as big brands.

What Sets Credorax Apart

As a company that was built from the ground up by technology and payments experts, specifically for e-commerce partners and customers, Credorax created a centralized, global platform, ePower 2.0, which we launched in the summer of 2015.  Built upon our “Smart Acquiring” business philosophy, ePower 2.0 is a single, completely automated and digital platform, with which merchants and PSPs are able to conduct all of their online payments business through one source instead of fragmented solutions dispersed in different “silo” global regions.

In addition to the platform, we offer a winning combination of optimized approval rates, flexible commercial models, quick MID set-ups through digital onboarding, and extended BI solutions.

  • Our onboarding solution enables fast and intuitive onboarding in an automated, secure environment, enabling merchants to quickly turn leads into cash. Check out our case for innovating digital onboarding here.
  • With our background in tech, we are in a unique position to understand our e-commerce customers thoroughly. Credorax’s BI system analyzes merchant payment activity to provide them with reports on both real-time and historical data and tools to help them make better business decisions.
  • Our payment partners and merchants are constantly concerned about declining consumer credit card payments. We work very closely with our customers to help them improve card approval rates.
  • We process all major global currencies and allow our customers to select their ‘currency of choice’ when it comes to settlement.

We will be delighted to talk to you more about the smart acquiring services that Credorax can offer your company. Be sure to visit us at booth B-20 for our exciting “acquiring darts” game and great payments conversations. To schedule a meeting with Igal Rotem, Koen Vanpraet, Nicola Palin-Willis, France Blanchard, Moshe Selfin of Credorax, Computop or arvato Financial Solutions, please click here or drop an email to