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

Why U.S. E-Retailers Need Cross-Border Acquiring

CRX_Blog_Img_16_large_2From fashion to travel, many U.S. online retailers are starting to see between 10 to 20 percent of their traffic coming from European-issued payment card products. Because setting up physical branches in local EU countries is rather expensive, online retailers tend to opt for keeping their businesses virtual.Continue Reading

The Story Behind Our Best Merchant Acquirer Award

CRX_Blog_Img_07.award_largeWe were thrilled to have been named Best Merchant Acquirer of 2014 at the recent, prestigious FSTech/Retail Systems Payments Awards ceremony. The gala event in London also awarded other global retail and payment companies in additional categories, including Starbucks, Skrill, PayPoint and Barclaycard among others.

Continue Reading

Visa Europe’s CBDIP To Benefit Merchants and Acquirers


The ongoing saga between Visa and the European commission looks like it’s finally coming to a close. The story goes back to July 2012, the European Commission initiated proceedings against Visa Europe with regard to the company’s policy on Multilateral Interchange Fees (MIFs) for consumer credit cards. The EC was concerned that Visa’s fee policy may have violated EU antitrust rules.Continue Reading

SEPA Migration and the Future of Cross-Border Payments

sepa migration cross-border payments

The SEPA initiative was launched back in January 2008 with the goal of improving the efficiency of European cross-border payments. Consumers and businesses were due to migrate to the SEPA payments format this past August, after a 6 month extension from the previous February 1st deadline. Now that August has come and gone, where do we stand vis a vis the broader goal of streamlining cross-border European payments?Continue Reading

Smart Acquiring: Digital Payments for the 21st Century

CRX_Blog_Img_01_largeWelcome to the official Credorax blog. We are excited to participate in the global payments industry conversation and we’re also looking forward to sharing important news about our rapidly growing company.

For visitors who’d like to learn more about Credorax and our aim, here is a quick intro to our story.Continue Reading