News from the Wire

Credorax, AltaPay deliver e-commerce for Caxton FX’s business

Wednesday, November 04, 2015 — 11:21:39 (EST)

Boston, Nov. 4, 2015 - Credorax, a global merchant acquiring bank and AltaPay, a global payment management provider, have partnered to provide both BtoB and BtoC global businesses with a proven customer-centric and revenue-driven integrated payment solution. By achieving substantially increased transaction approval ratings of over 90%, UK-based currency services provider, Caxton, serves as an example of one of the many customers to benefit from this joint endeavour.

Through AltaPay’s agile, transparent and reliable global payment processing solutions and proven ability to reduce the administrative burden of back-office aspects of payments processes, combined with Credorax’s technical prowess and extensive expertise in solving e-commerce complexities, Caxton FX has been able to further optimise its operational processes through this partnership.

Credorax and AltaPay are specifically providing e-commerce solutions for Caxton’s BtoC consumer-based prepaid ‘Currency Cards’. Both Caxton and its consumers have profited from this partnership. While consumers are enjoying frictionless top up of their prepaid FX cards, Caxton has been able to increase revenue due to higher approval rates inevitably leading to higher conversion rates.

“We believe in giving unbiased guidance to every Caxton FX client, ensuring they get the best value from their foreign currency exchange, which is in part why we put a lot of care in who we choose as partners. We value that AltaPay and Credorax hold very similar visions to Caxton FX in wanting to ensure all customers are served correctly and receive excellent value on each and every transaction,” said James Hickman, Managing Director at Caxton FX.

About AltaPay

AltaPay is a global payment management company, headquartered in Copenhagen, Denmark. Founded in 2008, the company (formerly known as Pensio) provides e-commerce businesses with global payment processing solutions. AltaPay’s customers include boohoo.com, ECCO, Kate Spade, Live Gamer, and Toys"R"Us. For more information, please visit www.altapay.com or contact sales@altapay.com .

About Credorax:

Credorax's Smart Acquiring solutions are based on ePower, its proprietary single, unified and automated global-domestic payment platform for efficient, cost-optimised acquiring complemented by value-added business tools and dedicated customer care. Credorax is the first, truly global Merchant Acquiring Bank, with secured licences across three continents, covering over 30 jurisdictions worldwide. For more information please visit www.credorax.com or follow on Twitter @credorax.

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Source: Company press release.