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Online travel is a competitive business with tight margins. All the hard work building brand and attracting customers can be thrown off course if users experience problems or transactions don’t go through quickly and consistently.

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Expanding globally? Add local currencies like

All Business is Local & Sometimes Exotic

We have found that when a merchant accepts local currencies, their approval rates usually increase. This might seem like common sense and easy to achieve – but it’s not. E.g. some regions can present greater challenges. Latin America countries are very local and want to keep it that way. If they see international traffic, they will often decline payments. So, it’s hard for foreign companies to get a foothold in the market there, despite the size of the continent.

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Client Advocacy Proves More than a New Year’s Resolution, but a Mantra to Live by

Credorax Customer Advocacy

For many of us, the beginning of a new year is typically a time when we set personal ‘New Year’s Resolutions’.  Just as we do this for ourselves, it is important for businesses to set them as well, in early Q1 each year. Confucius had it right when he professed, “study the past if you would define the future.” The aim is always to look to the future when setting these new expectations, but don’t forget that in order to do so effectively, you have to look to your past to get the true picture of where you are going and where you want to be.

Reflection: Study the Past

Especially after the transformation the Fintech industry went through in 2016 and for its sustainability in 2017, it is important for each of us in this industry – Credorax included – to reflect on the past in terms of what worked and what we could have done better. There is one big lesson we collectively learned. In order for the industry to continue to flourish, it must focus on creating very pragmatic solutions for its audiences (consumers and businesses) vs. frivolous concepts that will never be adopted. In other words, the focus needs to be on the ‘need to have’ rather than the ‘nice to have’ solutions. To do this wisely, companies need to really listen to their customers and react to their needs spot on.

From its inception, Credorax committed itself to being a Merchant Acquiring Bank that would exemplify true Customer Advocacy by staking its claim as the Acquirer to create ‘tailor-made’ business and technology solutions. While standardization in payments is critical for industry growth, the reality in acquiring is that every merchant is different, and therefore each one requires very specific solutions in order to enable them to flourish.

Was this mission an easy one to take on? Absolutely not and anyone in this industry with similar ambitions that claims the opposite is, let’s face it, not being truly transparent. Because here is the deal: off-the-shelf Acquiring & Payment solutions do not answer every customer’s needs and frankly do not exist.

Since we as a company approach everything ‘head-on’ and do not drink the Kool-Aid of unrealistic undertakings, our adopted, transparent philosophy with our clients has become and continues to be: “We may not have the answer today, but we’ll find it quickly and fix it smartly.” We therefore embrace the challenge gladly, understanding that we have the ability to carry out this mission.

The proof of success of this mission? Looking back at our previous year’s accomplishments, which were only made possible because of this commitment!  Global payment service providers and merchants have continuously made it clear that they select Credorax as their preferred merchant acquiring bank over competitors due to this tailor-made approach. Examples of partners secured in the last year alone include: Arvato, Vantiv, Simplify by MasterCard, Acceptacard, Computop and EasyPay. In addition, Credorax recently won several awards, including the Emerging Payments Association’s 2016 ‘Best Gateway/PSP/Acquirer’ solution provider, due to this unique business approach. This award is important to us because it is a concrete example of true measurement against this goal.

Moving Forward: If You Would Know the Future

Circling back to our 2017 Q1 resolution… Customer Advocacy will absolutely continue to be our number one priority to ensure that our customers and partners continue to be successful this year.  Credorax’s business model is solid yet dynamic enough to meet these undertakings once again, as it is built on the following three-pronged paradigm which when combined continuously ensures success for our stakeholders, both internal and external:

  • Trust built on skilled and caring talent: We have built a talent pool of technology and payment professionals that not only excel at their crafts, but care deeply on a personal level about our customers’ successes. Whether it’s waking up in the middle of the night to fix a technical issue, or bringing every C-level to clients in-person to solve their business issues, the staff treats partners and customers like family.
  • All roads lead to a common ground, ePower: In order to support our business philosophy of tailor-made acquiring and payment solutions, we created ePower, our patented single and unified acquiring and payment technology platform. This platform acts as the underlying, centralized infrastructure that serves as a common denominator for all the payment processing needs of all our partners and customers, as well as the foundation on which all tailor-made business/technology solutions are built.
  • Tailor-made technology & business solutions: For every client, we start off with a personalized Solution Architect that maps out a blueprint of how Credorax will support their individual needs and through the duration of the relationship we create and implement these solutions.

Signing off, we can’t stress enough how important it is for every business – not just Credorax –  to make customer advocacy the core focus. Starting off with the right ‘mantra’ at the start of the year will surely lead to success and sustainability throughout the year!

Never forget to get in touch – we need to hear you!

Putting Customers at the Center


In the digital age, it’s possible to find reviews on almost all types of goods or services, and the payments industry is no different. Customer care has come to the forefront in all industries, and Credorax tries to keep focus squarely on what customers want and need to successfully use our products to help their own businesses.

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Award-Winning Alliance for Outstanding Results –’s Success Story

Editor’s note: We are happy to kick off a series of posts dedicated to our clients’ success stories. These case studies will help explain what Credorax does differently in order to help grow our partners and merchants’ businesses. 


Credorax Success Stories, an MMO “free-to-play” online action games giant, provides a great lesson in becoming a global acquirer. Founded in 1998, Wargaming is one of the leaders in the free-to-play massively multiplayer online (MMO) market across PCs, consoles, and mobile devices.

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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.

Inside Credorax: Maarten Bleijerveld on Client Advocacy

Maarten Bleijerveld is Credorax’s VP of Sales & Business Development in EMEA. Maarten discussed with us his approach to client advocacy, among other interesting topics. In Maarten’s view client advocacy is not only about solving day-to-day payments issues, but also about fine-tuning the solution so it continues to meet our partners’ evolving needs.Continue Reading

China’s PBOC Keeps Visa and MasterCard in Limbo


The decision to open up Chinese bank card payment clearing market, which came into effect on June 1, 2015, follows, to a certain extent, a complaint the U.S. filed with the World Trade Organization in 2012. The U.S. argued that, per WTO rules, member countries of the organization should treat foreign credit and debit card issuers on par with domestic issuers and therefore required the Chinese government to open up the market for “bank clearing services” to foreign and domestically-invested companies incorporated in PRC. In addition, the PBOC will allow banks in China to issue Visa and MasterCard payment cards independently of UnionPay.Continue Reading

What ‘Customer-Centric’ Means to Us

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One of the most essential elements of our “business DNA” is our customer-centric approach. As a high-tech company serving the evolving needs of modern PSPs and merchants, we are dedicated to following the changing market trends and serving our clients accordingly.Continue Reading

What Does the Future Hold for Abenomics?


Fresh from his landslide electoral victory yesterday, Japan’s Prime Minster Shinzo Abe will be pushing harder than ever to further escalate the adoption of Abenomics. The prime minister’s eponymous policy is once again a hot topic of debate in the global financial markets.

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