Inclusive commerce in payment processing

UK-based PayXpert is a payments solution company focused on developing products that connect its partners with international markets, and which provides access to international payment schemes, alternative payments and marketing opportunities. It offers products that are truly inclusive, ensuring an improved user experience and a secure and comfortable payment experience for those with disabilities.

In part, the volcanic rise of Android payment terminal technology is a catalyst for many of the products and processes transforming how we pay and receive payments. The agility and connectivity of such terminals have opened the door to linking up with more terminals and systems while gathering and storing transaction data. This is a route to a true omnichannel experience, with tracking and remote managing giving you more control over your business, and concrete business intelligence on which to base your sales strategy. New functions and data have become part of the payment process. The fact that the Android terminal has contrasting curves between the rapid rise in market share and the price only escalates the dynamic.

Though it acts as an acquirer, PayXpert’s approach is to be payment terminal hardware agnostic, and it works with partners to customise solutions. Offering point of sale (POS) certification services also enables new POS solutions to enter the market with less friction, and accelerates speed to market for acquirer partners. An agnostic, inclusive approach allows merchants and acquirer banks to accept a broader range of payment options, ultimately driving more customers to the store and encouraging repeat business.

Including both the physical payment terminal and e-commerce payment solutions meant merchants could keep stores open during the pandemic, selling to domestic and international customers. The unfortunate situation did provoke a significant move towards cashless and contactless trade, with a card-plus-QR-code solution. PayXpert helps bring business to the UK markets from the vast Chinese and Indian markets via connections to WeChat, Alipay, UPI, and as the first acquirer in the UK, RuPay.

Allowing for inclusive commerce solutions is positioning the UK market as strategically important for leading global markets. This gateway to, for instance, the Chinese market lets UK merchants trade directly with Chinese consumers within the Chinese social media ecosystems. The local merchants, the ISOs, and domestic banks benefit from cross-border solutions and seamless access to geographically and technically distant markets. Tourists in the local market are, in this manner, allowed to use their preferred payment method, thus boosting their ability and will to spend.

At the end of the chain of technology providers, financial institutions, regulatory bodies and others, is the essential element: the customer. For the customer, inclusive commerce means no barriers exist between technology, markets and access to a secure payment process. PayXpert aims to deliver this experience by developing a payment terminal that includes automatic translation, free choice of payment methods and solutions for the visually impaired. Cross-border connections between markets and people, no matter the language or physical challenges, make for a genuinely inclusive commerce experience.

Find out more about PayXpress’ merchant payment solutions here.

By David Armstrong, Managing Director, PayXpert