ConnexPay Partners with Shift4 to Streamline Payment Solutions in Europe

Rhea-AI Summary

Shift4 (NYSE: FOUR) and ConnexPay have announced a strategic partnership to enhance payment solutions in European markets. The collaboration integrates ConnexPay's payment issuance platform with Shift4's processing infrastructure, offering unified PayIn and PayOut functions for online travel agencies (OTAs) and hospitality businesses in the UK and EU.

The partnership enables next-day settlement and real-time virtual card issuance, leveraging Shift4's acquiring services with 3D Secure. ConnexPay merchants can now access Gross Settlement payouts via third-party integration, streamlining B2B payment processes through a single contract and unified reconciliation system.

Positive

• Strategic expansion into UK and European markets
• Integration of payment processing infrastructure enhances operational efficiency
• Next-day settlement capability added to service offerings
• Real-time virtual card issuance functionality

Negative

• None.

Insights

Financial Technology Analyst

This strategic partnership represents a significant expansion opportunity in the European payments market. The integration combines Shift4's acquiring infrastructure with ConnexPay's virtual card issuance platform, creating a comprehensive payment solution specifically tailored for the travel and hospitality sectors.

The partnership's value proposition centers on streamlining payment flows through unified PayIn/PayOut capabilities, offering next-day settlement and real-time virtual card issuance. This efficiency improvement could drive substantial transaction volume growth for Shift4 in the European market, where the company is actively expanding its presence.

For Shift4 investors, this represents a strategic move to capture market share in the $2+ trillion European travel market. The partnership leverages Shift4's existing infrastructure while opening new revenue streams through ConnexPay's established relationships with OTAs and hospitality businesses.

The collaboration combines Shift4's top acquiring services with ConnexPay's all-in-one payments platform to deliver seamless PayIn and PayOut functions to businesses across various markets, including OTA and Hospitality.

CENTER VALLEY, Pa., Nov. 6, 2024 /PRNewswire/ -- Shift4 (NYSE: FOUR), a global leader in integrated payments and commerce technology, today announced a strategic partnership with ConnexPay, the world's first all-in-one payments platform. This partnership will empower online travel agencies (OTAs) and hospitality businesses in the UK and European markets by integrating ConnexPay's payment issuance solutions with Shift4's leading payment processing infrastructure.

Through this partnership, ConnexPay will leverage Shift4's expertise in the European payments landscape to expand within the UK and EU markets. Supported by Shift4's full acquiring services with 3D Secure, ConnexPay is able to offer Gross Settlement payouts via third-party integration, unlocking new growth potential in key regions for both companies.

By merging PayIn (the process of accepting payments from customers) and PayOut (issuing payments to suppliers) into one unified system, ConnexPay reduces the operational burden on merchants and enhances financial reconciliation. Shift4's advanced acquiring capabilities will enable ConnexPay merchants to access next-day settlement along with the ability to issue virtual cards in real-time to one or more suppliers using incoming funds from customers.

"Combining ConnexPay's advanced virtual card issuance capabilities with Shift4's comprehensive payment processing platform allows us to offer an end-to-end solution that meets the unique needs of the travel and hospitality industries across the UK and EU markets," said France Blanchard, SVP Account Management & Onboarding, Europe, at Shift4. "We've already seen strong interest within key markets, and with ConnexPay's expansion efforts underway, we're excited about the potential to scale this solution in more countries across Europe."

"The combination of ConnexPay's issuance solutions and Shift4's acquiring services creates a robust platform that can scale the European continental markets," said Ben Peters, CEO, ConnexPay. "This partnership allows us to support more OTAs and other travel-related businesses with a secure, all-in-one solution that not only enhances operational efficiency but also improves cash flow management."

With plans to significantly scale its processing operations in various regions throughout Europe, the growth will be supported by Shift4's proven capacity to manage billions of transactions annually, alongside ConnexPay's flexible platform, which simplifies B2B payment processes through a single contract and unified reconciliation.

About Shift4

Shift4 (NYSE: FOUR) is boldly redefining commerce by simplifying complex payments ecosystems across the world. As the leader in commerce-enabling technology, Shift4 powers billions of transactions annually for hundreds of thousands of businesses in virtually every industry. For more information, visit shift4.com.

About ConnexPay

ConnexPay is the first payments company to seamlessly combine both PayIns and PayOuts into a single global platform, requiring only one contract and providing unified reconciliation. The flexibility of ConnexPay's technology allows clients to manage all their B2B payment needs, from acquiring sales, managing fraud, and paying suppliers, all on one platform. ConnexPay's solutions are applicable across a broad spectrum of corporate payment use cases, including global travel, ticketing, insurance and warranty claims, loyalty and rewards, and media and advertising. Founded in 2017, ConnexPay serves clients on six continents and provides payments services to over 175 countries and territories worldwide. In 2023, ConnexPay earned the Travel Innovator of the Year award at Phocuswright and in 2024 was named to the Inc 5000 list of fastest-growing companies in America for the second year in a row.

Learn more at www.connexpay.com and follow us on LinkedIn.

Shift4 Media Contact:
Nate Hirshberg
Senior Vice President, Marketing, Shift4
nhirshberg@shift4.com
+1 610.596.4590

ConnexPay Media Contact:
Liza Amaro
Head of Marketing
Lamaro@connexpay.com
+1 706.617.4710

View original content:https://www.prnewswire.com/news-releases/connexpay-partners-with-shift4-to-streamline-payment-solutions-in-europe-302297349.html

SOURCE Shift4; ConnexPay

FAQ

What is the purpose of Shift4's partnership with ConnexPay?

The partnership aims to streamline payment solutions in Europe by combining Shift4's acquiring services with ConnexPay's all-in-one payments platform, offering unified PayIn and PayOut functions for OTAs and hospitality businesses.

What new features does the Shift4 (FOUR) and ConnexPay partnership offer?

The partnership offers next-day settlement, real-time virtual card issuance, Gross Settlement payouts via third-party integration, and unified PayIn and PayOut functions through a single contract and reconciliation system.

Which markets will benefit from the Shift4 (FOUR) and ConnexPay collaboration?

The collaboration primarily benefits online travel agencies (OTAs) and hospitality businesses in the UK and European markets.