Payment service provider Computop and merchant acquiring bank Credorax have partnered to facilitate cross-border frictionless payments through their synergised single payment processing & acquiring solution.
As part of the agreement, Credorax’s ePower acquiring platform will be integrated into its payment platform Paygate.
Computop in a statement said that the integration will enable its merchants to process payments made in all major currencies across the globe, all on a single platform.
The system, which is expected to go live by the end of second quarter of 2016, will support Visa and Mastercard transactions globally.
The integration of Credorax and Computop technologies will provide users with a single payment and acquiring platform that offers local BINs for optimised interchange costs and approval rates.
The technology will be supported with business services, tools and a full customer care programme.
Computop head of international business Andre Malinowski commented: "This partnership will enable merchants to process transactions internationally, reducing costs and card declines. We expect it to increase customer satisfaction, minimise chargebacks and improve conversion rates."
"Computop chose Credorax due to its innovative acquiring solution that covers a range of continents and currencies on a single platform. By integrating Credorax into Computop Paygate, we are allowing merchants to take advantage of local and international acquiring while benefiting from our large scope of accepted local and alternative payment methods. That’s a worry-free payment solution for companies with global expansion plans," he added.