PAY.ON is vastly expanding its global payment network in 2015. Focus areas for growth in Q2 and Q3 2015 include North America and other English-speaking markets such as Australia. Latin America will also be a focus growth area in 2015.
Our commitment to extending our global payment network further strengthens our position as a leading payment gateway solution provider for payment service providers (payment service providers), independent sales organizations, acquirers, independent software vendors and value-added resellers. PAY.ON’s payment network currently connects to more than 300 local and international acquirers and alternative payments methods, in over 160 countries worldwide. All of our partners access this network through a single unified API, without additional development work or integration as further technical connections are added.
On average, 4-5 new connectors (acquirers and alternative payment methods) are added every month, giving payment providers and their merchants the technical connectivity necessary to expand quickly into new markets. Payment service providers, independent sales organizations, independent software vendors, and value-added resellers can offer online merchants customized acquiring solutions and country-specific alternative payment methods, which are essential to successful cross-border eCommerce expansion. In North America, integration of First Data Omaha and TSYS is currently being completed, and connector growth in Q2 and Q3 will continue to increase coverage in this target region.
For online merchants, the simple, rapid connection of required payment partners is the key to successfully opening up new markets, and consequently the driving force to achieving rapid sales growth in the highly competitive eCommerce space. All connectors in the PAY.ON network are fully integrated and can be enabled immediately, which ensures the fastest time to market, minimizes technical complexity, and provides strong return on investment for payment providers who outsource their payment infrastructure to PAY.ON.
Tobias Schweiger, COO/CFO, said, “In a rapidly-changing payments market, it is essential that we give our partners the technical connectivity they need to serve globally-oriented merchants. Conversion rates are raised 15-20% on average, simply by offering the three most important local payment methods during checkout, which highlights the significance of determining the right payment mix. We make it possible for our PSP partners to maximize conversion rates – and therefore revenues – by integrating the alternative payment methods that their merchants require when expanding into diverse markets worldwide.”
Over the past year PAY.ON has integrated the following key connectors; CashU, Raiffeisen Bank International (RBI), Moneris, TrustPay instant bank transfer, First Data Compass, Cybersource, Klarna, Trustly, Yandex.Money, PaySquare, HSBC Global Payments, and OneCard.