PAYSTRAX: Doing Payments Better, Quicker and at Scale

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The founders of PAYSTRAX have decades of experience in the payments industry. In the past, they worked with internal software development teams who spent most of their time keeping up with connection updates, legislations, and regulations. One of PAYSTRAX’s primary goals was to onboard merchants as quickly as possible to become profitable. To achieve this, they needed a reliable and scalable white label platform partner with a strong API to quickly incorporate new partners and payment types into their backend.



The founders of PAYSTRAX were starting a new company and wanted to be quickly up and running with a solid proven solution that was PCI DSS compliant and continuously updated to keep up with consumer preferences.  They didn’t want to have internal software development teams spending most of their time keeping up with updating payment methods, legislations and regulations. Most importantly the solution had to work with their existing processing and POS vendors and scale up to allow them to add new clients and payment types very quickly.

To quickly come to market, PAYSTRAX felt they need to be associated with a reliable solution that has a proven track record and excellent uptime. One that is recognized in the market.



A whitelabel version of the ACI Payments Orchestration Platform was chosen because it had everything PAYSTRAX was looking for in a single API, so they could quickly set-up new clients and add connections from the entire payments ecosystem.  One of the key factors for PAYSTRAX when looking for a solution was ACI’s ecosystem and the fact that they could cherry pick from all the connections, solutions, partners and alternative payment methods in the market.  Plus, when new players come to the market with innovations, they knew that ACI would have a connector as soon as the APM gained traction in the market with consumers.  “We don’t have an internal software development team, so the ability to easily keep up consumer payment preferences and various updates to payment methods and regulations is vital.”  Stated Bjarni Þór Sigurðsson, Chief Commercial Officer at PAYSTRAX.


“The final solution had everything in one API.  ACI’s API is really good, it’s very easy for others to integrate with the platform.”

Bjarni Þór Sigurðsson, Chief Commercial Officer at PAYSTRAX


PAYSTRAX started processing February 1, 2021 and were able to quickly sign up five partners and become profitable within 5 months.  They have been consistently growing their portfolio month by month since then.  PAYSTRAX set a goal of getting in the first 2 years but were able to exceed that goal in only 6 months by teaming up with partners who were already connected to the ACI platform.  This would have taken an extra 6 to 12 months if they had to integrate them without ACI.


“Our salespeople would set a meeting and say we are already connected via ACI, so you can choose PAYSTRAX as a connector and get these additional value-added services.”


“What surprised us most was how quickly we managed to go from zero to profitability.” confided Bjarni. “When we started the process, we estimated that we should be able to breakeven in about 6 to 12  months.  In the end, we were able to do it in only 5 months.”

A lot of PAYSTRAX customers have recurring subscription-based services and wanted to offer one-click or embedded payments into their systems.  PAYSTRAX customers are able to utilize ACI Omni Tokens and token vault to provide one-click and embedded payments, all while keeping their consumers payment data secure and their systems out of PCI Scope.


Next Steps

PAYSTRAX is always looking to adopt new solutions their clients can benefit from and plan to offer ACI Pay by Link, a solution that generates an url or QR code that merchants can use to have consumers pay.  The solution can be used by sales, support and customer service and sent via email, SMS, chat or social media messaging or feeds.

Additionally, they are looking closely at a few more new innovations that are aligned to their customers business.  “I’ve seen a lot of innovative solutions developed by ACI over the last few years.” Declared Bjarni.  “We are very interested in seeing if our current and future customers are looking to adapt them.”


PAYSTRAX provides Visa and Mastercard acquiring services for POS terminals, online, mobile and other electronic payment systems, creating customised solutions and ad-dons tailored to the specific needs of users. PAYSTRAX is an authorised Payment Institution that holds PI licenses in
the EU and U.K.

Article by PAYSTRAX

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