APEXX Global, a global payments platform, is expanding into the U.S. marketplace, the company announced this week. Today, the company forecasts to be processing roughly $20 billion by the end of 2022.
One focus for the company is the buy now, pay later (BNPL) market, in which APEXX Global said it will help new and existing payment services providers meet growing demand. They claim to accelerate the average time to market by 90 per cent and increase trading volumes by as much as 20 per cent.
In Europe, APEXX Global said it has 120 integrated partners, and multiple enterprise clients including ASOS, eShopWorld, XE.com, Swoon, and AirSeychelles. They operate across more than 70 countries saving users an average of 15 per cent on processing costs.
“Payment service providers (PSPs) are struggling with the speed of change and offering their customers the solutions they want in the markets they serve – especially among those in the BNPL industry,” said Rodney Bain, co-founder and CSO at APEXX Global. “At APEXX Global, we’re confident in our ability to aid the US’s fragmented and rapidly-growing demand for cutting-edge payments solutions through our single-stop platform of leading payments providers.”
Core to this entrance into the U.S. market is the growing popularity of BNPL options and providers. The BNPL industry has modernized flexible payment options, allowing consumers to create installments on individual transactions and is set to reach $680 billion in transaction volume worldwide by 2025. APEXX Global’s payment orchestration platform features an integrated BNPL solution with multiple BNPL providers. This allows merchants and PSPs to access multiple BNPL providers across more than 40 markets through a single consolidated API.
“The global B2C e-commerce market is set to reach $6.54 trillion by 2023, and online shopping is one of the most popular online activities in the nation, but poor checkout experiences means e-commerce businesses risk losing billions in potential revenue at the point of sale due to outdated and cumbersome legacy systems and processes,” continued Bain. “As U.S. consumers continue their adoption of BNPL, APEXX Global’s unique API and orchestration platform are one of the only systems that can handle the coming wave.”