Leading merchant acquiring bank awarded for ongoing contribution to the development of a cashless payment society
Credorax, the smart payments provider and licensed bank for cross-border eCommerce and omni-channel payments, was awarded the “Market Shaker Award” at the recent Mastercard Direct Services (MCDS) Annual Payment Conference, held in Dubrovnik, Croatia. The award recognizes Credorax’s priceless contribution in the development of a cashless payment society.
“Credorax was one of the first technology companies to become a principal-level member of MasterCard, and we are thrilled to be recognized for our positive role in the development of cashless societies by our close partner of many years,” said Credorax CEO Igal Rotem. “We make it our mission to help businesses adapt effectively to shifting demands brought on by evolving payment technologies, and this award is a testament to our achievements.”
The state of truly cashless societies across the EU is quickly becoming a reality. In the UK alone, credit card spending overtook cash for the first time ever in 2018, following in Sweden’s footsteps, where only about 15% of transactions use paper notes and coins. Now, more than ever, merchants’ need for a reliable, secure and frictionless payment transaction is crucial. Credorax’s gateway technology and strategic partnerships fully support merchants to offer a seamless payment experience in all 32 EU regions, driving the EU’s strong payments ecosystem and empowering merchants worldwide.
Credorax was commended for its excellence in partnerships in the eCommerce space, leading the way in 3DS 2.0 and cooperation with merchants. Credorax’s Smart 3DS product suite assists merchants with their compliance requirements, advising on which transactions are affected by new regulations and solving customer authentication and PSD2 payment issues by utilizing the power of AI, data science and payment fraud prevention technologies.
Credorax was also recently selected to be featured on the 2018 Deloitte Technology Fast 500™ ranking for EMEA. The program is an objective industry ranking focused on the technology ecosystem, recognizing technology companies that have achieved the fastest rates of revenue growth in EMEA during the past four years.