ConnexPay provides a unified payments platform that enables travel and e-commerce businesses to accept customer payments and issue virtual card payments to suppliers in real time. This integration enhances cash flow by allowing immediate access to incoming funds while minimizing fraud risk through advanced security measures.
Funding
$145.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
FCFounders
Product
Problem
Many businesses, especially those in travel and e-commerce, face challenges in efficiently managing both incoming customer payments and outgoing supplier payments. Traditional systems often require separate platforms for accepting payments and issuing payouts, leading to fragmented workflows, reconciliation complexities, and delayed access to funds. This can strain cash flow, increase operational costs, and create unnecessary administrative burdens.
Solution
ConnexPay offers a unified payment platform that consolidates the acceptance of customer payments and the issuance of virtual card payments to suppliers into a single, integrated system. This all-in-one solution provides real-time access to incoming funds, enabling businesses to use those same funds to pay suppliers quickly and efficiently. By streamlining the entire payment process, ConnexPay enhances cash flow, reduces capital requirements, and minimizes fraud risk through advanced security measures. The platform's intelligent payout technology optimizes card rebates, further improving profitability. With ConnexPay, businesses gain transaction transparency, simplified reconciliation, and a better client experience by owning the customer payment process from purchase to adjustments.
Target Audience
ConnexPay primarily serves travel companies, online marketplaces, insurance providers, loyalty and rewards programs, event ticket sales platforms, online advertising firms, and warranty providers seeking to streamline payment processes and improve cash flow.
Features
- Unified platform for accepting customer payments (PayIns) and issuing virtual card payments to suppliers (PayOuts)
- Real-time access to incoming funds for immediate supplier payments
- Intelligent PayOuts technology that automatically selects the optimal card type to maximize supplier acceptance and card rebates
- Support for over 60 card BINs, providing flexibility in supplier payments
- Advanced fraud prevention powered by Kount, an Equifax Company, using AI-driven fraud detection
- Proprietary chargeback management system with a user-friendly interface and digital processing
- Robust reporting and analytics dashboard for insights into sales, purchases, customers, and suppliers
- Cash balance report for dynamic money movement tracking
- Available to issue report for instant visibility of funds available for payments
- Global capabilities with support for multiple currencies and international transactions
- Modern APIs for seamless integration with existing systems