Saxo Payments Banking Circle adds Credorax merchant acquiring bank to partner portfolio
Partnership leads to even faster time-to-funding for Credorax Merchants
London, 9th September 2015 – Saxo Payments today announces that Credorax, the global digital merchant acquiring bank, joins First Data, Tuxedo Money Solutions, and Valitor, as a partner in the Saxo Payments Banking Circle. Credorax, with a focus on the e-commerce and m-commerce sectors, has joined the innovative new community created by Saxo Payments, to deliver enhanced benefits for its payment service provider partners and merchant customers.
The Saxo Payments Banking Circle provides a seamless conduit for bank transfers in multiple currencies anywhere in the world. In order to enhance its Acquiring services, Credorax has partnered with Saxo Payments to expedite the receipt of merchant funding within minutes of clearing. As a pure-play Acquirer this is an important benefit for Credorax’s PSP partners who want to offer and ensure their merchants receive funding in a short timeframe.
Commenting on the new partnership with Saxo Payments, Aviram Shemer, Credorax CFO, said: “We want to give our merchants the best service. It needs to be fast and scalable, which is why we chose Saxo Payments. We’re currently doubling our processing volume year-on-year and need to ensure we have the best systems in place to sustain that growth, whilst meeting the same high standards our merchants have come to expect from Credorax.”
Anders la Cour, Chief Executive Officer for Saxo Payments, added: “Our web-based banking platform allows businesses to make transfers in real-time, at a fraction of the cost of traditional banking services. These benefits make the Saxo Payments Banking Circle a logical solution for Acquirers like Credorax. We look forward to working closely with Credorax to help them deliver more benefits for their merchants, with favourable rates on foreign exchanges and transfers.”