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Patel leads company’s strategic entry into Europe and other countries around the globe
ConnexPay, a payments provider that connects acceptance and issuance for travel companies, marketplace companies, and commerce intermediaries, has hired Anant Patel, a 22-year payments industry veteran, as President, International Markets. Patel is leading the company’s expansion into Europe and other countries around the world.
“Anant’s wealth of international payments experience makes him the ideal candidate to bring ConnexPay’s technology to Europe,” said Robert Kaufman, Founder and CEO of ConnexPay. “I feel very fortunate that he decided to come on board with us in January and revolutionize payments across the globe like we’ve already done here in the U.S.”
ConnexPay’s innovative model allows its clients to connect incoming customer payments with outgoing supplier payments—all in real time and with no need for lines of credit or cash reserves. The company has also built proprietary technology to automatically make intelligent payment routing decisions, which gives its clients more control over transactions and further boosts revenue.
“I’m thrilled to have joined ConnexPay, and I’m excited to bring this one-of-a-kind payments technology to the international market,” Patel said. “What ConnexPay has solved for in the U.S. by seamlessly integrating merchant acquiring and payments issuing into a single platform will be a welcome relief to so many travel and marketplace companies in Europe and beyond as well.”
ConnexPay is the first and only company to bring together the two sides of the payment process—payments acceptance and virtual payments issuing—into a single platform with one contract and one reconciliation.
ConnexPay’s expansion into Europe is slated for late second quarter 2022 and will initially include virtual card issuing, with merchant acquiring becoming available by year-end. The flexibility of this technology allows clients to adopt the full end-to-end acquiring and issuing solution or leverage ConnexPay’s innovative intelligent routing issuing-only platform.
The company’s technology simplifies an antiquated workflow, eliminates the need for pre-funded accounts, reduces supplier risk and the cost of accepting card payments while safeguarding consumer spend.