The collaboration combines Shift4's top acquiring services
with ConnexPay's all-in-one payments platform to deliver seamless
PayIn and PayOut functions to businesses across various markets,
including OTA and Hospitality.
CENTER
VALLEY, Pa., Nov. 6, 2024
/PRNewswire/ -- Shift4 (NYSE: FOUR), a global leader in integrated
payments and commerce technology, today announced a strategic
partnership with ConnexPay, the world's first all-in-one payments
platform. This partnership will empower online travel agencies
(OTAs) and hospitality businesses in the UK and European markets by
integrating ConnexPay's payment issuance solutions with Shift4's
leading payment processing infrastructure.
Through 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 advanced
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.
"Combining ConnexPay's advanced virtual card issuance
capabilities with Shift4's comprehensive payment processing
platform allows us to offer an end-to-end solution that meets the
unique needs of the travel and hospitality industries across the UK
and EU markets," said France
Blanchard, SVP Account Management & Onboarding,
Europe, at Shift4. "We've already
seen strong interest within key markets, and with ConnexPay's
expansion efforts underway, we're excited about the potential to
scale this solution in more countries across Europe."
"The combination of ConnexPay's issuance solutions and Shift4's
acquiring services creates a robust platform that can scale the
European continental markets," said Ben
Peters, CEO, ConnexPay. "This partnership allows us 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 significantly scale its processing operations in
various regions throughout Europe,
the growth will be supported by Shift4's proven capacity to manage
billions of transactions annually, alongside ConnexPay's flexible
platform, which simplifies B2B payment processes through a single
contract and unified reconciliation.
About Shift4
Shift4 (NYSE: FOUR) is boldly redefining commerce by simplifying
complex payments ecosystems across the world. As the leader in
commerce-enabling technology, Shift4 powers billions of
transactions annually for hundreds of thousands of businesses in
virtually every industry. For more information, visit
shift4.com.
About ConnexPay
ConnexPay is the first payments company to seamlessly combine
both PayIns and PayOuts into a single global platform, requiring
only one contract and providing unified reconciliation. The
flexibility of ConnexPay's technology allows clients to manage all
their B2B payment needs, from acquiring sales, managing
fraud, and paying suppliers, all on one platform.
ConnexPay's solutions are applicable across a broad spectrum of
corporate payment use cases, including global travel, ticketing,
insurance and warranty claims, loyalty and rewards, and media and
advertising. Founded in 2017, ConnexPay serves clients on six
continents and provides payments services to over 175 countries and
territories worldwide. In 2023, ConnexPay earned the Travel
Innovator of the Year award at Phocuswright and in 2024 was
named to the Inc 5000 list of fastest-growing companies in
America for the second year in a row.
Learn more at www.connexpay.com and follow us on
LinkedIn.
Shift4 Media Contact:
Nate
Hirshberg
Senior Vice President, Marketing, Shift4
nhirshberg@shift4.com
+1 610.596.4590
ConnexPay Media Contact:
Liza
Amaro
Head of Marketing
Lamaro@connexpay.com
+1 706.617.4710
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content:https://www.prnewswire.com/news-releases/connexpay-partners-with-shift4-to-streamline-payment-solutions-in-europe-302297349.html
SOURCE Shift4; ConnexPay