The two fintech companies will combine their data and offer an alternative to bundled payments services.
Data tokenization startup TokenEx will merge with payments platform IXOPAY to combine their payment optimisation software products and simplify users’ payment journeys.
The combined company will be called “IXOPAY, a TokenEx Company”, and Marc Olesen will lead the combined organisation as CEO. The merger allows both platforms to increase authorization rates and decrease interchange fees for vendors, along with PCI-certified secure payment data.
Their platform offers omnichannel tokenization, wherein merchants can use one payment token for in-person and online transactions and all payment processors, as well as payments orchestration, distinct from other platforms’ transaction software for its intelligent routing, cascading, and risk management functions. It also allows users to update expired cards and authenticate transactions.
“By merging with TokenEx we not only bring together our unique capabilities to become the most comprehensive payments platform for global merchants, but we can also utilize the expertise of the TokenEx team to provide first-class service to our primarily European customers in the U.S. market,” said Rene Siegl, Founder and Executive Chairman of IXOPAY.
“This merger marks a significant milestone in the payments industry,” said CEO Marc Olsen. “By joining forces, IXOPAY, a TokenEx Company is uniquely positioned to help merchants develop a payments strategy that optimizes the use of multiple payment processors to enhance both top and bottom-line results.”
Source: tech.eu
