Last week the Credorax team participated in the wildly successful Money20/20 conference. The Credoraxeers from the US, EU, China and Israel, together with our partners, Arvato Financial Solutions and Dimebox, met for three days of networking and learning about the international payments ecosystem. The Credorax team gained a lot of insight into exciting industry developments. We asked a few of the team members to share their impressions of Money20/20 and what they viewed as important takeaways from this year’s conference.
Get to know our people through their management values, at a glance!
At Credorax, our core values drive our daily work. As a technology company, innovation, ambition and exacting execution keep us ahead of the pack. But equally important are the “old-fashioned” values of integrity and communication, which have allowed us to build teams that are imbued with trust and ready to do our best for every client, big or small.
Held in Las Vegas, Money20/20 2015 was a worldwide gathering of stakeholders in truly global payments. Firms of all sizes and specialties were present to talk to thousands of conference-goers about news and discuss questions and challenges to the industry gathered in the glitz of Vegas! As we are busily preparing for this annual showcase – which will include information, meetings, and fun and games — we asked three veteran Credorax attendees to share their thoughts on last year’s forum.
A panel at Money20/20 tackled some of the big questions in the payments industry, touching specifically on issues relating to cross-border commerce and who is providing value to both merchants and customers.
Moderated by Paul Alfing, of Ecommerce Europe, the panel included:
- Igal Rotem, Credorax – merchant acquiring bank
- Hank Boughner, GlobalPayments – merchant acquiring bank
- Anders la Cour, Saxo Payments – payments division of Saxo Bank
- Christoph Tutsch, ONPEX – white label payment technology for financial firms
All the participants have deep knowledge of payments, technology, and the challenges of cross-country operations. The firms are of varying size and operate in a range of countries, but each has a place in the value chain of making technology work to ease the payment process for clients.
The ease of using the internet has made the world seem borderless, particularly when it comes to e-commerce. But many consumers incorrectly assume that we are already living in a truly online global marketplace. Can companies buy or sell to customers anywhere in the world via e-commerce or m-commerce channels? Unfortunately, we’re not there yet. Even the largest online marketplaces like eBay and Amazon do not fully support global e-commerce.
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.
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.
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!
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 firstname.lastname@example.org.
This month I was privileged to be one of the keynote speakers at Lafferty’s exquisite London event, The World E-Commerce Summit. This thought-leadership driven event included a hand-picked group of speakers, representing the movers, shakers and innovators across the payments ecosystem. From IBM to Visa to Tufts University, there was an interesting mix of diverse speakers.
For someone who found the payments space a few years earlier during a trek up Mount Kilimanjaro (that story is for a separate and later blog), speaking at an event was a dream come true. I wanted to share the broader themes of this intimate event, enjoy!
The MasterCard MCDS conference took place November 4-6. The conference covered quite a few payments topics and trends. It was a great opportunity to meet with colleagues and get an up-to-date picture of where we are headed as an industry.Continue Reading
Previously a licensed financial institution, Credorax has now officially evolved into a commercial bank in Europe. Having recently received our commercial banking license from the Malta Financial Services Authority (MFSA), we have become one of the first fintech companies in the world to grow into a pan-European bank.Continue Reading
Last month’s Emerging Payments Awards in London was truly a night to remember for Credorax. We took home awards for both Merchant Acquirer of the Year and Best Emerging Payments Marketing Campaign of the Year. We are honored to have been recognized for the hard work we put into serving payment service providers and clients around the world.Continue Reading