Vantiv and Credorax Partner to Expand Card-not-Present Payments Acceptance to Global Markets
Credorax enables seamless cross-border eCommerce for Vantiv's customers
CINCINNATI and BOSTON, March 16, 2016 — Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and technology for merchants and financial institutions of all sizes, and Credorax, a global merchant acquiring bank, today announced a partnership that bolsters the capabilities of Vantiv's merchants to serve global consumers via card-not-present channels.
As a result of this relationship, Vantiv's merchants will now be able to process and settle card payments in the local currencies of 34 countries, which often results in lower international banking fees and higher transaction approval rates. Additionally, Vantiv's clients will have access to a global acquiring platform, meaning a seamless customer experience, key network and banking relationships that translate into fewer contractual hurdles, and easy onboarding. By partnering with Credorax, Vantiv is also enabling its U.S. customers to reach international markets that previously posed regulatory, cultural, and technological challenges, resulting in a faster track to innovation.
Credorax brings a unique combination of international acquiring coupled with technical agility," said Greg Worch, senior vice president of eCommerce sales at Vantiv. "Our alliance with Credorax allows our customers to expand into global markets, while working directly with Vantiv for integration, reporting, and servicing."
Additionally, Credorax will help Vantiv's customers overcome the obstacles of cross-border fees, taxes, regulations, supply chain issues, and payment technology integration.
The world of eCommerce gets more competitive every day, so it is becoming essential for online U.S. merchants to broaden their reach internationally, noted Rod Katzfey, vice president of Business Development and Sales at Credorax. "We look forward to collaborating with Vantiv, as the validation from such a well-respected payments company is important for Credorax and the industry challenges we address."
About Credorax: Credorax's Smart Acquiring solutions are based on its proprietary single, unified and automated global-domestic payment platform for efficient, cost-optimised acquiring complemented by value-added business tools and dedicated customer care. Credorax is the first, truly global digital Merchant Acquiring Bank, with secured licenses across three continents, covering over 30 jurisdictions worldwide For more information please visit www.credorax.com or follow on Twitter @credorax.
About Vanitiv: Vantiv, Inc. (NYSE: VNTV) is a leading payment processor differentiated by an integrated technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes, enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure, and more successful. Vantiv is the second-largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company's growth strategy includes expanding further into high-growth channels and verticals, including integrated payments, eCommerce, and merchant bank. Visit us at the new vantiv.com, or follow us on vantiv.com or follow us on Twitter, Facebook, LinkedIn, Google+ and YouTube.