Sunday, August 7, 2022

Inclusive commerce in payment processing

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PayXpert is a Business Reporter client

Based in the UK, PayXpert is a payments solutions company focused on developing products that connect its partners to international markets and provide access to international payment systems, alternative payments and marketing opportunities. It offers products that are truly inclusive, ensuring an improved user experience and a safe and convenient payment experience for people with disabilities.

In part, the volcanic rise of Android payment terminal technology is a catalyst for many of the products and processes that are transforming the way we pay and receive payments. The agility and connectivity of such terminals has opened the door to connecting to more terminals and systems while collecting and storing transaction data. This is a path to a true omnichannel experience, with tracking and remote management that gives you more control over your business and concrete business intelligence to base your sales strategy on. New functions and data have become part of the payment process. The fact that the Android terminal has opposite curves between the rapid increase in market share and the price only increases the dynamics.

Although PayXpert acts as an acquirer, it follows the approach of being independent of payment terminal hardware and works with partners to develop customer-specific solutions. Offering point-of-sale (POS) certification services also allows new POS solutions to go to market more smoothly and speeds time to market for acquirer partners. An agnostic, inclusive approach allows merchants and acquirer banks to accept a wider range of payment options, ultimately bringing more customers to the store and encouraging repeat business.

The inclusion of both the physical payment terminal and e-commerce payment solutions meant merchants could keep their stores open and selling to domestic and international customers during the pandemic. The unfortunate situation has triggered a significant step towards cashless and contactless trading with a card-plus-QR code solution. PayXpert helps bring business from the huge Chinese and Indian markets to the UK markets via connections to WeChat, Alipay, UPI and as the UK’s first acquirer to RuPay.

Allowing for integrative trading solutions positions the UK market as strategically important to leading global markets. This gateway to the Chinese market, for example, allows UK retailers to trade directly with Chinese consumers within Chinese social media ecosystems. Local traders, ISOs and domestic banks benefit from cross-border solutions and seamless access to geographically and technically distant markets. Tourists in the local market can thus use their preferred payment method, thus increasing their purchasing power and willingness to buy.

At the bottom of the chain of technology providers, financial institutions, regulators and others is the essential element: the customer. For the customer, inclusive commerce means that there are no barriers between technology, markets and access to a secure payment process. PayXpert aims to deliver this experience by developing a payment terminal that includes automatic translation, free choice of payment methods and solutions for the visually impaired. Cross-border connections between markets and people, regardless of language or physical challenges, ensure a truly inclusive trading experience.

Learn more about PayXpress merchant payment solutions here

Originally published on Business Reporter

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