The collaboration combines Shift4‘s acquiring services with ConnexPay‘s all-in-one payments platform to deliver PayIn and PayOut functions to businesses in a wide range of industry segments.
Shift4 (NYSE: FOUR), a global enabler of integrated payments and commerce technology, officially entered a partnership with ConnexPay, the world’s first all-in-one payments platform.
This partnership will aim to support online travel agencies (OTAs) as well as hospitality businesses operating in the United Kingdom and European markets by integrating ConnexPay’s payment issuance solutions with Shift4’s payment processing infrastructure.
Via this partnership, ConnexPay will leverage Shift4’s expertise in the European payments landscape to expand within the UK and EU markets.
Supported by Shift4’s “full” acquiring services with 3D Secure, ConnexPay is able to offer Gross Settlement payouts via third-party integration, “unlocking new growth potential in key regions for both companies.”
By merging PayIn (the process of accepting payments from customers) and PayOut (issuing payments to suppliers) into one unified system, ConnexPay reduces the “operational burden on merchants and enhances financial reconciliation.”
Shift4’s acquiring capabilities will enable ConnexPay merchants to access next-day settlement along with the ability to issue virtual cards in real-time to one or more suppliers “using incoming funds from customers.
France Blanchard, SVP Account Management & Onboarding, Europe, at Shift4 said that combining ConnexPay’s virtual card issuance capabilities with Shift4’s payment processing platform allows them to offer a solution that meets the “needs of the travel and hospitality industries across the UK and EU markets.”
Ben Peters, CEO, ConnexPay said that the combination of ConnexPay’s issuance solutions and Shift4’s acquiring services creates “a robust platform that can scale the European continental markets.”
They added this partnership allows them to “support more OTAs and other travel-related businesses with a secure, all-in-one solution that not only enhances operational efficiency but also improves cash flow management.”
With plans to scale its processing operations in regions throughout Europe, the growth will be enabled by Shift4’s capacity to manage billions of transactions annually, alongside ConnexPay’s platform, which simplifies B2B payment processes via “a single contract and unified reconciliation.”
As covered, Shift4 says that it is redefining commerce by simplifying complex payments ecosystems across the globe.
As the firm focused on commerce-enabling tech, Shift4 powers transactions for businesses in “virtually every industry.”
ConnexPay is the payments company to combine both PayIns and PayOuts into a single global platform, requiring “only one contract and providing unified reconciliation.”
The flexibility of ConnexPay’s tech allows clients to manage B2B payment needs, from acquiring sales, managing fraud, and paying suppliers, “all on one platform.”
ConnexPay’s solutions are applicable across corporate payment use cases, including global travel, ticketing, insurance and “warranty claims, loyalty and rewards, and media and advertising.”
Established back in 2017, ConnexPay provides payments services to more than 175 countries and territories worldwide.
