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App55 selects Credorax as preferred acquirer

31 January 2014  |  3011 views  |  0 Source: Credorax

Credorax, the smart high-tech acquirer, today announced that the company has been chosen by App55, an online payments provider, as a preferred partner to expedite the market penetration of their 'One-Click' solution across the European e-commerce and m-commerce markets.

Utilising a proprietary tokenization system, App55's award-winning App55 Vault technology solution allows customers to pay online with any 'connected' device through a single password. When card information is entered during the first purchase, App55 encrypts and stores it securely in their Vault, so from that point on, customers can pay online through any device simply by entering their password. The Vault is compliant with stringent PCI-DSS standards.

"We are excited to have Credorax come on board as our new preferred Acquirer, thanks to their ability to provide our merchants with a fully digital, secure and painless acquiring experience," said Richard Beaton, founder and CEO of App55.  "In particular, we are delighted that our merchants can take advantage of Credorax's completely paperless Merchant Onboarding, which will enable them to set up an account and start collecting payments in a matter of days."

Credorax is one of the world's first technology companies to become a principal-level member of Visa and MasterCard and a PSD-licensed financial institution in Europe. Thousands of merchants and PSPs are currently utilising the company's ePower platform, a unified acquiring and payment processing system. 

Considered the first stage of the ePower experience, Merchant Onboarding provides PSPs and merchants with a cloud-based CRM software tool to easily and independently conduct the onboarding process.  What makes Credorax's Onboarding solution unique is its intrinsic ability to enable partners and merchants to digitally onboard in an automated, highly-secure closed environment - all within the CRM software tool itself.

"We partnered with App55 because they share the same vision as us, which is to provide online and mobile merchants with a technology-driven and customised, not-off-the-shelf, acquiring and payment processing service," said Moshe Selfin, Chief Revenue Officer at Credorax. "The synergy between our two PCI-DSS compliant technologies will provide merchants with the peace of mind and confidence they need in order to offer consumers a safe pay-by-password online and mobile payment check-out option."

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