How ConnexPay Helps Merchants Streamline Payment Processing

The payments space is rapidly evolving. Technological disruption, the growing challenges posed by new market entrants and a consistent stream of regulatory updates have created new challenges for organizations – which is why firms are looking for ways of processing payments and managing their wider financial needs more efficiently and securely.

In this article, we discuss the importance of streamlining your firm’s payment processing, how ConnexPay’s all-in-one payments platform can help, and how you can get started with ConnexPay to enjoy numerous benefits unlocked by streamlining your payment processes. 

Why it’s important to streamline your payment processing 

By using legacy systems and relying on a disparate collection of contrasting eBanking systems, firms are unnecessarily exposing themselves to increased operational risk, heightened failure rates and unnecessary costs. As a result, financial decision makers are deciding to invest in solutions which will enable their organizations to streamline payments – and in doing so, firms can expect to enjoy numerous benefits.

Some key reasons why streamlining your payment processing is important:

• Cost savings: Streamlining payment processing can help to reduce costs and improve the efficiency and security of your payment processes, leading to cost savings and increased revenue for your business. In addition, by investing in a streamlined payments solution capable of integrating with existing TMS or ERP infrastructure, human error and process duplications can be eliminated, further increasing cost savings.

• Reduced risk: Streamlining payment processing can help to reduce business risk by boosting security, reducing errors, enhancing fraud prevention, and improving data accuracy.

• Increased visibility: By streamlining payments, organizations can expect to enhance cash visibility and improve cashflow, empowering financial decision makers to access real-time transaction data from multiple accounts via one central platform. 

How ConnexPay can streamline payment processing 

From connecting incoming customer payments with outgoing supplier payments in real time to providing integrated fraud prevention, Connexpay helps to streamline your payment processing in numerous ways, unlocking a host of benefits for your business.

So, how does Connexpay streamline payment processing? 

Accept and make payments with ConnexPay: 

ConnexPay is the first and only company to connect incoming customer payments with outgoing supplier payments inside a single platform, all in real-time, with no lines of credit or upfront reserves required. As a result, you can expect improved financial performance, cashflow, and business efficiency.

Robust reporting and powerful analytics: 

The ConnexPay platform provides robust reporting and powerful analytics that is comprehensive and user-friendly. This can provide your business with important information and insights into your payment processes, helping to inform decision-making, improve performance, and reduce risk through sophisticated issue reporting.

Integrated fraud prevention for every transaction:

ConnexPay partners with a best-in-class fraud solution from Kount, an Equifax Company.

With Kount’s technology integrated into ConnexPay’s platform at no additional charge, every transaction is scored by Kount’s AI for fraud insights and machine learning technology before being cleared for processing, leading to improved fraud prevention. 

Getting started with ConnexPay 

While there are countless payment providers across the world, ConnexPay is the first and only payments company to connect incoming customer payments with outgoing supplier payments inside a single platform—all in real time. By connecting two traditionally separate payment functions, we help you to de-risk your payment process and enjoy new benefits such as lower merchant processing fees and increased revenue through higher card rebates.

Unlike most payments providers, we don’t require financial commitments or put caps on spending. With no need for lines of credit or cash reserves, our implementation team can get you up and running in as few as 10 days — it’s as simple as that. 

Summary

Relying on legacy and disparate eBanking systems can expose your business to unnecessary risk and costs. However, by streamlining your payment processing with ConnexPay, you can reduce costs and increase revenue, mitigate business risk by improving security, and enhance cash visibility through access to robust reporting and powerful analytics — providing your business with important information and insights into your payment processes to improve overall cash flow. 

To learn more about how ConnexPay can help you to streamline your payment processing, contact our experienced team or book a demo today.