Our latest insights

ConnexPay Celebrates 5 Years in Business with Over 100% Compound Annual Growth Rate

Share this post

Share on facebook
Share on linkedin
Share on twitter
Share on email
ConnexPay Celebrates 5 Years in Business with Over 100% Compound Annual Growth Rate
Originally developed for travel companies, ConnexPay broadens reach to other industries

ConnexPay, an industry-leading payments provider that seamlessly connects acceptance and issuance for commerce intermediaries, has reached its 5th year in business. The company has achieved exponential growth, more than doubling each year on a compound basis. The company’s success is evident in its continued growth; in the first four months of 2022, ConnexPay has already achieved more revenue than it earned in all of 2021.

“We started this company to make a difference in the payments industry, and we’ve been very successful,” said Bob Kaufman, Founder and CEO. “I’m thankful for each one of our employees and clients who have helped us achieve this milestone.”

ConnexPay began as an idea in Kaufman’s mind when he worked as a senior executive at a top national bank. Kaufman witnessed firsthand the disconnected payments process that travel companies experience as they sit between two transactions — the incoming traveler payment and the outgoing supplier payment.

“Seeing travel companies get squeezed on already thin margins showed me that there had to be a way to serve this market,” said Kaufman. “That’s why I felt inspired to start ConnexPay — the first company to fully integrate merchant processing with outgoing supplier payments, which allows us to take more risk out of the payments process, give more control, and provide fairer rates back to travel companies.”

In this innovative model, ConnexPay has visibility into the entire payments process because the company facilitates both the acquiring and issuing transactions. In addition, this solution allows clients real-time access to incoming funds that can immediately be used to pay suppliers.

Since its inception in 2017, ConnexPay has grown from a purpose-built solution dedicated to the travel industry to expanding its service to other verticals, including marketplaces and ecommerce intermediaries, online media and advertising agencies, loyalty and rewards companies, delivery services, and more.

In March 2022, ConnexPay announced its entry into Canada, with the company’s European launch slated for the second half of 2022.

About ConnexPay

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. 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.

Founded in 2017, ConnexPay is an industry leader in payments for industries historically viewed as high risk to payment providers. Learn more at www.connexpay.com and follow us on LinkedIn.

More To Explore

Login or Register

Don't have an account?

Are you part of the Payments Association community?

Not yet set up your login for the Payments Association Community Platform? Set it up now

Set up a free account for instant access to our content

You don’t need to be an Payments Association member to view the majority of our content. Simply enter your details below once to set up your login details and get access to our library of whitepapers, podcasts, consultation papers, webinars and more.

First Name*
Last Name*
Company Name*
Job Title*
Business Email Address*
Confirm Password*
The Payments Association exist to help drive the industry forward. As such the Payments Association may contact you about any future content or events that we think you may have a legitimate interest in. We will store your information securely and will never share your details with third parties other than the relevant resource(s) sponsor(s)/curator(s). You may opt out at any time. By clicking register you are agreeing to the terms of our Privacy Policy.

← back