TokenEx & IXOPAY Merge to Enable Merchants to Join the Multi-Processor World 

I’m excited to announce that TokenEx is merging with IXOPAY, creating a new leader in global payment optimization. This will combine TokenEx’s expertise in tokenization of payment data, with IXOPAY’s best-of-breed payment orchestration, including transaction routing & reconciliation capabilities. The combined company will be called IXOPAY, a TokenEx Company, and represents a comprehensive product suite to secure and optimize payments. 

The End of the Single Payment Processor

The days of using only one payment processor are ending. No single payment platform can provide redundancy when they experience downtime. No single payment platform provides the ability to send transactions where authorization rates are highest. No single payment platform gives merchants the leverage to negotiate fees. Using only one processor will always limit revenue and growth. 

As a company grows, it needs to utilize multiple processors. It needs redundancy to keep its payments flowing when a processor goes down. It needs the ability to accept payments as it expands into new geographies. And it needs to ensure that the highest number of transactions are approved for the lowest possible processing cost. Routing transactions to multiple processors for redundancy, geographic reach, and risk level is how to make payment processing part of your revenue strategy. 

Challenges of Using Multiple Processors

However, using multiple payment processors can be challenging. Payment data is stored across multiple systems, making it hard to access. It’s also difficult to pull this data together to analyze customer behavior when it’s siloed in different places. Failing to keep card information up-to-date across processors means lost revenue as stored cards expire.  

Additionally, adding or changing processors could mean reworking internal systems to accommodate payment data from another source. Finally, developing the logic to send transactions to the ideal processor is a resource-intensive effort that can hurt organizational efficiency. On top of all of this, you must ensure that transaction and settlement data from all your processors, each with a unique data format, is reconciled in your financial and accounting systems. 

A Complete Payments Optimization Platform

TokenEx’s merger with IXOPAY marks a pivotal step in the transformation of the payments industry toward supporting a multi-processor approach to payments, delivering a complete payments platform. The combined TokenEx + IXOPAY product suite is built to address the challenges of supporting multiple payment processors with Omnichannel Tokenization, Payment Orchestration, and Card Lifecycle Management. 

Omnichannel Tokenization 

Universal Tokens enable merchants to use one payment token that spans in-person and online channels and all payment processors. This eliminates storing payment data in multiple systems, reduces system complexity, and improves customer data analysis. All while keeping your payment data secure and reducing your PCI compliance requirements by up to 90%. 

Payment Orchestration 

A highly scalable and PCI-certified payment orchestration platform for merchants that delivers intelligent routing, cascading, and state-of-the-art risk management functions to optimize payment outcomes with plugin-based integration of over 200 acquirers, Alternative Payment Methods, and payment service providers. Centralized reconciliation and settlements reduce the overhead and burden of reconciling payment information from your processors to your back-end financial systems. 

Card Lifecycle Management 

This suite of powerful capabilities helps to drive additional revenue. Card-on-file updates allow merchants to prevent lost revenue and churn by proactively updating expired, lost, or stolen payment card information. BIN Lookup provides critical payment card data to route payment transactions to the ideal processor. Network Tokens provide additional authentication, which increases authorization rates and reduces interchange fees. 

Looking Ahead

Merchants with access to multiple processors, the ability to route transactions intelligently, and visibility into unified customer data have the power to deliver a competitive advantage from their payment strategy. A payment strategy based on flexibility, independence, and payment flows protected from unexpected outages means faster growth. It means a revenue source not available to merchants stuck in the single-processor world.   

We are excited by these changes and feel strongly that the combined company will give merchants a complete payment optimization platform with unprecedented control over their revenue and the competitive edge to thrive in global commerce.  

If you would like to learn more about how our platform can help grow your business, please request a demo.