The collaboration combines Shift4's top acquiring services with ConnexPay's all-in-one payments platform to deliver seamless PayIn and PayOut functions to businesses across various markets, including OTA and Hospitality.
CENTER VALLEY, Pa., Nov. 6, 2024 /PRNewswire/ -- Shift4 (NYSE: FOUR), a global leader in integrated payments and commerce technology, today announced a strategic partnership with ConnexPay, the world's first all-in-one payments platform. This partnership will empower online travel agencies (OTAs) and hospitality businesses in the UK and European markets by integrating ConnexPay's payment issuance solutions with Shift4's leading payment processing infrastructure.
Through this partnership, ConnexPay will leverage Shift4's expertise in the European payments landscape to expand within the UK and EU markets. Supported by Shift4's full acquiring services with 3D Secure, ConnexPay is able to offer Gross Settlement payouts via third-party integration, unlocking new growth potential in key regions for both companies.
By merging PayIn (the process of accepting payments from customers) and PayOut (issuing payments to suppliers) into one unified system, ConnexPay reduces the operational burden on merchants and enhances financial reconciliation. Shift4's advanced acquiring capabilities will enable ConnexPay merchants to access next-day settlement along with the ability to issue virtual cards in real-time to one or more suppliers using incoming funds from customers.
"Combining ConnexPay's advanced virtual card issuance capabilities with Shift4's comprehensive payment processing platform allows us to offer an end-to-end solution that meets the unique needs of the travel and hospitality industries across the UK and EU markets," said France Blanchard, SVP Account Management & Onboarding, Europe, at Shift4. "We've already seen strong interest within key markets, and with ConnexPay's expansion efforts underway, we're excited about the potential to scale this solution in more countries across Europe."
"The combination of ConnexPay's issuance solutions and Shift4's acquiring services creates a robust platform that can scale the European continental markets," said Ben Peters, CEO, ConnexPay. "This partnership allows us to support more OTAs and other travel-related businesses with a secure, all-in-one solution that not only enhances operational efficiency but also improves cash flow management."
With plans to significantly scale its processing operations in various regions throughout Europe, the growth will be supported by Shift4's proven capacity to manage billions of transactions annually, alongside ConnexPay's flexible platform, which simplifies B2B payment processes through a single contract and unified reconciliation.
About Shift4
Shift4 (NYSE: FOUR) is boldly redefining commerce by simplifying complex payments ecosystems across the world. As the leader in commerce-enabling technology, Shift4 powers billions of transactions annually for hundreds of thousands of businesses in virtually every industry. For more information, visit shift4.com.
About ConnexPay
ConnexPay is the first payments company to seamlessly combine both PayIns and PayOuts into a single global platform, requiring only one contract and providing unified reconciliation. The flexibility of ConnexPay's technology allows clients to manage all their B2B payment needs, from acquiring sales, managing fraud, and paying suppliers, all on one platform. ConnexPay's solutions are applicable across a broad spectrum of corporate payment use cases, including global travel, ticketing, insurance and warranty claims, loyalty and rewards, and media and advertising. Founded in 2017, ConnexPay serves clients on six continents and provides payments services to over 175 countries and territories worldwide. In 2023, ConnexPay earned the Travel Innovator of the Year award at Phocuswright and in 2024 was named to the Inc 5000 list of fastest-growing companies in America for the second year in a row.
Learn more at www.connexpay.com and follow us on LinkedIn.
Shift4 Media Contact:Nate HirshbergSenior Vice President, Marketing, Shift4nhirshberg@shift4.com+1 610.596.4590
ConnexPay Media Contact:Liza AmaroHead of MarketingLamaro@connexpay.com+1 706.617.4710
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