NXG International, a provider of payment services and solutions in Canada, has signed a deal to launch CardX’s revenue-neutral card acceptance solution, dubbed Intelligent Rate, for qualifying Canadian merchants.
The platform gives eligible businesses and institutions the capability to accept credit card payments paying no cost for the transactions, NXG International said. It also lets consumers to choose the fee they pay.
New rules from the card brands allow merchants in eligible categories to use the service fee model to process card-not-present transactions at 0% cost.
NXG International said that CardX’s Intelligent Rate solution will enable to provide its Canadian merchants a dynamic service fee solution that fully complies with the new rules. The technology determines card type in real time and prices the service fee in proportion to the transaction cost, improving affordability for cardholders.
CardX executive vice-president of sales partners Brian Price said: "We are excited to partner with NXG International to serve the Canadian marketplace. Their international scale and expertise are a great complement to our innovative work as a technology startup."
NXG International president Giuseppe Caltabiano said: "I am proud of the NXG International and CardX team, for being able to bring to Canada, as part of their World Access roll-out, a unique and innovative system that allows eligible businesses to have their credit card processing costs financed by their customers accurately and legally – in real-time.
"After EMV and Interac Flash, CardX-NXG International is the next revolution for accepting payments in Canada."