Credorax UNIFY Panel on the Future of Payments: Part I


At our UNIFY event in London on June 16th, we heard many great speakers talk about the future of payments. Benny Nachman, our CEO discussed the inspiration behind Credorax and Moshe Selfin, our COO, unveiled the company’s exciting new product, the enhanced platform ePower 2.0. In addition to these and other thought leaders, we also had a panel discussion that focused on a few key issues that are influencing the payments industry.Continue Reading

Credorax Addresses the ‘Truly Global and Borderless Digital Economy’ at UNIFY 2015



We are back from last week’s very successful UNIFY event in London and we have a lot to report. Our UNIFY conference was designed to bring together a wide range of perspectives from industry thought leaders, market analysis and new insights into an era of a truly global, borderless economy.Continue Reading

5 Steps to a Perfect Merchant Onboarding Application



In general, merchant onboarding to an acquiring bank can take up an enormous amount of time, due to reams of paperwork that need to be filled out. One important way to smooth out the process is to make sure your application contains all the critical information the bank will need in order to process your application in a timely manner.Continue Reading

Payments in the Age of Digital Disruption


Yves Mersch, a member of the Executive Board of the European Central Bank, spoke recently at the joint European Central Bank/Suomen Pankki Conference in Helsinki. His speech included some very compelling points about innovation, trust and regulation in retail payments. One of the central themes of his speech was how online content digitalization has not only disrupted creative media industries like music and publishing, but such digitalization is now banging on the door of the payments industry as well.Continue Reading

5 Ways to Optimize Your Site for Cross-Border E-Commerce

CRX_blog_5-cross-Bord-Ecom_lrg recently released their latest quarterly X-Border Payments Optimization Index, and it’s chock-full of fascinating information about the state of global cross-border payments today.

As we all know, cross-border e-commerce is the present and future of global commerce. If you have a website for your business, you have the opportunity to reach billions of customers worldwide. The big question remains: Is the average merchant ready and able to serve customers who reside both across the street and on the other side of the world?Continue Reading

Japan Payments in Focus



Editor’s note: We are pleased to announce our new ‘Country in Focus’ series. Every few weeks we will take a closer look at a different country and analyze it in terms of its e-commerce and payments environments. If you haven’t done so yet, subscribe to our blog so you won’t miss a single post in the series. 

In terms of nominal GDP, Japan is the third largest national economy in the world and fourth largest in terms of purchasing power parity (PPP). According to the Japan Statistics Bureau, the number of people who used the Internet for the first time exceeded 100 million people, making up 82.8 percent of the population 6 years of age and older.

Continue Reading

Interchange Fee Regulation Update


Multilateral interchange fees are back in the news. We discussed them back in November in the context of Visa Europe’s CBDIP program.  Just recently, the European Council approved the latest version as recently amended by the European Parliament (EP). Continue Reading

The US EMV Migration: What Took So Long?

Credit Card

The October 2015 deadline for the US EMV migration is fast approaching. There are many industry articles addressing the perennial question: Will the US be ready? We found one recently on ZDNet that asked an even more interesting question: Why didn’t the US migration happen sooner?Continue Reading

Are You Ready to Take On Global E-Commerce?


When it comes to global e-commerce, there’s no reason for US merchants to be limited to North American customers. As the saying goes, there’s a whole world out there! Global e-commerce is growing by leaps and bounds every year. In 2013, sales grew 17% YOY and hit $1.2 trillion in 2013. Cross-border e-commerce sales reached $300 billion, or 25% of global e-commerce flow, and is growing in excess of 45% YOY.

For many online merchants, the main challenge is how to reach global customers with minimum fees and headaches and maximum ROI.

Today’s merchants expect a great deal from their payment providers. This usually translates into a number of key demands. Among them:

  • A single platform for regional and global sales
  • Business-friendly perks such as:
    • Low transaction costs
    • Few or no correspondent/receiving bank charges
    • Reduced decline rates
    • Increased authorization rates
  • Multiple payment methods
  • Expertise in regional preferences, compliance rules and legislation

This is a tall order for the average payment provider and requires competence in a number of different areas. However, from our experience, these elements are crucial to successful cross-border e-commerce. It’s a complicated puzzle, but without all of the pieces—platform, cost-control, flexibility and expertise—reaching global customers can be hit or miss.

Case Study: TransNational Bankcard

One great example of this is our partner, TransNational Bankcard. The company is a Chicago-based, privately-held payments company with a large merchant portfolio primarily focused on SMBs. The company’s vertical focus is retail, service, hospitality and medical.

TransNational’s challenge to us was to provide their e-commerce merchants with comprehensive financial management services to enable merchant client growth (particularly ISVs). The company was looking for both expertise and management of all payment-related issues for their clients.

The solution: Credorax’s global acquiring platform, with features that allow our partners to benefit from:

  • Comprehensive reporting capabilities
  • Lower bank and exchange fees
  • Reduced chargeback rates
  • “Client-centric” approach

So, what was the company’s response? According to Jae Haas, TransNational Bankcard President: “Credorax realizes that our firm’s success can and should be replicated in other global markets. We are particularly impressed with their ability to use creative reasoning to help eliminate barriers while maintaining appropriate levels of compliance in European markets.”

We are dedicated to providing all of our clients with this kind of service. These kinds of client responses make all of our hard work worth it!

If you are interested in hearing more about entering the European e-commerce market, Rod Kazfey, VP of Sales at Credorax and Justin Brown, VP Products at TransNational Bankcard will be hosting a seminar on the topic at TRANSACT15, taking place in San Francisco on March 31, between 1:45-2:45 pm. If you’re at the conference, be sure to catch the seminar!


MPE Takeaways: Apple Pay Soars, EU Merchant Acquiring Trends



This year’s Merchant Payment Ecosystem event was held in Berlin on February 17-19. The emphasis this year was on mPOS, NFC and Bitcoin. There were a number of interesting and educational sessions on a variety of issues facing the payments industry.Continue Reading