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PXP Financial, the experts in global payment services today announced its participation in the award-winning Zebra® PartnerConnect programme. Zebra Technologies is an innovator at the front line of business with solutions and partners that create new ways of working. PXP Financial joins as an independent software vendor (ISV) focusing on providing soft-POS payment capabilities that will enable Zebra customers and partners to accept payments on a range of Zebra mobile computer and tablet devices.

By participating in Zebra’s PartnerConnect programme, PXP Financial gains access to an innovative portfolio, along with comprehensive training and extensive marketing, sales and technical benefits. 

PXP Financial chose to join Zebra’s PartnerConnect programme as the combination of Zebra’s industry leading products and solutions, coupled with PXP’s payment acceptance expertise and future proofing payment solutions, will provide businesses with a cutting-edge customer experience for payments.

“As a PartnerConnect member, PXP Financial now has access to industry-leading solutions, training and tools that will allow us to collaborate with Zebra’s global partner network and better meet the needs of our customers,” said Kamran Hedjri, CEO & Founder of PXP Financial. “The PartnerConnect programme makes it easier for us to differentiate ourselves while working together with Zebra to create new ways of working for the front line of business.”

The Zebra PartnerConnect programme is designed to evolve the best of Zebra’s inclusive channel ecosystem, addressing the needs of distributors, resellers, solution partners, ISVs, systems integrators and technology alliance partners, providing opportunities for growth and meeting customer and market demands.

About PXP Financial 

PXP Financial offers a comprehensive end-to-end payment platform, providing a single, unified payments solution that caters to online, mobile and point of sale transactions. Backed by in-house acquiring capabilities, a diverse array of 120+ alternative payment methods and a suite of financial services, PXP Financial processes over EUR 22.7 billion annually through its unified gateway.  

To find out more about the PXP Financial family of companies please visit: pxpfinancial.com 

PXP Financial, a leader in global payment services, is pleased to announce the launch of its Partner Portal. This advanced platform is engineered to transform the merchant application journey, elevating the partnership experience with PXP.

Designed to enhance efficiency and accuracy, the Partner Portal empowers partners to focus on growth and success. It enhances the partner journey by saving time and reducing administrative burdens. With automated checks and digital submissions, it minimizes errors and provides real-time updates for greater transparency.

The Portal offers frictionless submission process, real-time tracking, and comprehensive document management, guaranteeing faster processing and quicker approvals.

Katharina Richter-Weiss, COO at PXP Financial said: “At PXP, our mission is to provide unparalleled payment solutions that drive success for our partners. By simplifying the application process, we are empowering our partners to focus on what they do best - growing their businesses.”

Adding to this, Salvatore Cicero, CTO at PXP Financial, remarked, “The launch of the Partner Portal is a part of our commitment to innovation, excellence, and continuous improvement, with planned future enhancements set to introduce new features that will keep partners and merchants ahead in the market.”

With the launch of its Partner Portal, the company enhances its existing partner offerings. This addition complements acquiring and aggregation services, tailored cooperation models, smart risk scoring, industry-based pricing, and top-notch Account Management, ensuring partners gain a competitive edge.

About PXP Financial 

PXP Financial offers a comprehensive end-to-end payment platform, providing a single, unified payments solution that caters to online, mobile and point of sale transactions. Backed by in-house acquiring capabilities, a diverse array of 120+ alternative payment methods and a suite of financial services, PXP Financial processes over EUR 22.7 billion annually through its unified gateway.  

To find out more about the PXP Financial family of companies please visit: pxpfinancial.com 

Amsterdam, 16 April 2024 - Celeris, a pioneering provider of dynamic payment orchestration solutions, is excited to unveil a strategic technical integration with PXP Financial, a globally renowned payment service provider recognised for its cutting-edge payment technologies. This partnership marks a significant leap forward in payment processing capabilities for businesses on a global scale.

The collaboration between Celeris and PXP Financial is poised to streamline payment processes, open new verticals, optimise transaction efficiency, and deliver a seamless payment experience to merchants and consumers alike. By synergising Celeris' innovative payment solutions with PXP Financial's state-of-the-art payment technology platform, merchants can now access a comprehensive suite of payment services tailored to address their diverse needs effectively.

This integration empowers merchants leveraging Celeris' services with seamless access to PXP Financial's extensive payment methods, which span traditional card payments, Apple Pay and Google Pay, alternative payment methods, and emerging digital wallets. Moreover, the integration introduces advanced security features bolstering transaction security and instilling confidence among merchants and consumers.

"We are thrilled to announce our strategic integration with PXP Financial, a globally respected leader in payment processing solutions," remarked Sunil Jhamb, CEO of Celeris. "This collaboration underscores our unwavering commitment to delivering unparalleled value to our merchants by providing access to the most advanced payment technologies available in the market."

Celeris and PXP Financial share a common vision of empowering businesses to thrive in today's fast-paced digital landscape. By joining forces, both entities are poised to drive innovation, foster growth, and deliver exceptional payment experiences that elevate customer satisfaction and foster long-term loyalty.

"We are excited to partner with Celeris to deliver a seamless payment experience to merchants worldwide," said Kamran Hedjri, CEO of PXP Financial. "Together, we are dedicated to pushing the boundaries of payment technology, enabling businesses to stay ahead in an ever-evolving marketplace."

Merchants seeking further information about the integrated payment solutions offered by Celeris and PXP Financial are encouraged to visit https://www.celerispay.com and www.pxpfinancial.com for comprehensive details.

April 09, 2024 - PXP Financial, the expert in global acquiring, payment, fraud, and data analysis services, today announced it has received accreditation to become a Token Service Provider by global technology company Mastercard.

The new accreditation has been made possible by the Mastercard Digital Enablement Service (MDES), a single integrated platform which enables the digitization of supported Mastercard card types for a wide range of digital payment methods. The MDES provides PXP Financial with a Secure Card on File tokenization program and a better user experience and higher approval rates for merchants leveraging Mastercard tokens.

Leveraging Mastercard’s Secure Card on File technology means PXP Financial can provide an additional layer of security for its customers accepting online and in-app purchases.

Kamran Hedjri, CEO & Founder of PXP Financial, said: “Ensuring cardholders can enjoy peace of mind is paramount in today’s global marketplace. We know merchants are under pressure to combat the rise in fraud while providing smooth and convenient payment experiences that help to drive sales and foster customer loyalty.

“At PXP Financial, we take our responsibility to merchants navigating this landscape incredibly seriously, keeping our client base across the world at the cutting-edge of payments innovation while maintaining a laser focus on security. Our move towards the use of scheme tokens is representative of this commitment.

“Mastercard offers a highly secure, globally scalable solution, with significant speed to market, along with an industry-leading reputation for excellence in payments that will support our merchants to build the trust that is so vital today. We are delighted to announce our accreditation.”

With experts estimating that there is a new case of identity theft every 22 seconds, and anticipating this ratio to worsen this year, the MDES helps to protect cardholders from becoming victims as it converts their most sensitive information into non-sensitive digital tokens. These digital tokens are used for secure e-commerce and in-app transactions, rather than using the customer’s primary account number (PAN) which remains in a token vault. Digital tokens then safely travel through the e-commerce website or app, without exposing any payment card details. Device-specific tokens add an additional layer of security.

As well as reducing risk, digital tokenization offers a variety of benefits including assisting in remaining compliant with PCI DSS, increased approval rates, and enabling faster, more efficient transactions. While it bears similarities to encryption, digital tokenization differs greatly; for example, with digital tokenization, the sensitive data never leaves the original organisation it was shared with.

For more information, visit: www.pxpfinancial.com

The campaign theme for this year’s International Women's Day is ‘inspire inclusion’: ‘When we inspire others to understand and value women's inclusion, we forge a better world.’ It’s a sentiment that truly resonates with us here at PXP Financial.

This International Women’s Day, we want to share the experiences of four inspirational women who are paving the way for other talented women in tech. But first, some numbers:

• Just 26% of the tech workforce are women.
• The percentage of women in all tech-related careers has actually decreased over the last two years.
• Representation of women in big tech fell by 1% between 2020 and 2022.

At PXP Financial, we are passionate about ensuring everyone has the same opportunities to succeed, and are proud to count some very talented women among our engineers:

• Barbara Selista, Software Test Engineer
• Mila Karaleeva, QA Engineer
• Svetlana Pavlovska, Software Engineer

• Ilina Tsoneva, Software Engineer

Q1: What was the spark that ignited your passion for technology?

Barbara: My tech interests started very early, I was maybe 14 or so. As a teenager I got really interested in computers; for me it was fascinating that you enter “some values on some black screen” and the computer could give you a very fast response.

Mila: The spark that ignited my passion for technology traces back to my earliest days, when I was just a curious kid. This passion led me to pursue a degree in computer engineering, where I delved deep into the intricacies of software development, hardware design, and everything in between. The more I learned, the more I realized the vast potential of technology to transform our world and enhance our lives. During my studies, I discovered the field of Quality Assurance (QA), where I found the perfect blend of my technical skills and my meticulous attention to detail.

Svetlana: My father was a mechanical engineer, so since I was a little girl I’ve looked at things from an engineering perspective. I remember when he bought our first family computer - we were always making schedules for who’s turn is to investigate and experiment!

Ilina: Technology has had a hold on me for as long as I can remember. However, the defining moment occurred post-university when I found myself immersed in a field seemingly distant from technology. Interestingly, this field was gradually embracing technology to streamline tasks that were done manually. I could see what kind of impact this had not only on a business-scale, but also in liberating people, freeing them from lots of tedious work.

Q2: What do you love most about working in technology, and what motivates you to continue in this field?

Barbara: It never stands still, so it never gets boring! Thanks to technology, things that used to take days are now done sometimes within minutes - every day is like a surprise where you never know what will happen.

Mila: What I love most is the endless opportunity for collaboration and knowledge exchange. As a naturally sociable person, I thrive in environments where I can engage with colleagues and share insights. In the tech industry, every project presents a unique set of challenges that require innovative solutions. What motivates me to continue in this field is the thrill of problem-solving and the satisfaction of seeing our collective efforts translated into tangible results.

Svetlana: Technology gives you the power to provider solutions to real life problems. This is a dynamic field where creativity and problem-solving skills are highly valued, and I find great satisfaction in being able to tackle complex challenges and see my solutions come to life.

Ilina: In contrast to many other fields, technology stands out as a dynamic and ever-evolving landscape. The remarkable progress witnessed over the last few decades has transformed it into a vast library, teeming with diverse and fascinating "books" waiting to be explored.

Q3: What kinds of obstacles have you encountered on your journey, and how have you turned these challenges into stepping stones?

Mila: I've encountered various obstacles that have tested my resolve and pushed me to grow. One recurring challenge has been the complexity of projects and the inevitable setbacks that come with them. However, I've learned to embrace these obstacles as opportunities for learning and development. My natural instincts as a problem solver have guided me through these challenges. Instead of becoming discouraged by setbacks, I approach them with a positive mindset, viewing them as stepping stones rather than stumbling blocks. This mindset shift has allowed me to extract valuable lessons from each experience. Furthermore, as a naturally sociable person, I've encountered challenges in communication and collaboration within diverse teams. I've leveraged my interpersonal skills to bridge gaps, foster open dialogue, and cultivate a collaborative environment where everyone's strengths are valued.

Ilina: Honestly, there hasn't been a singular, standout hardship I can point to as a significant obstacle on my journey. However, it's not because challenges haven't arisen. Rather, my approach involves viewing difficulties as milestones or the ultimate challenge before ascending to the next level. I see them as aspects requiring my action, not just my attention.

Q4: How have the technological milestones/projects you've been part of reshaped the landscape of the industry or had positive impact on consumers?

Mila: By prioritizing usability, security, and inclusivity, we've harnessed the transformative power of technology to make life easier and more enriching for all, so I’m proud to say that each project I’ve been involved in has done these things. One notable project was the development of a data-driven decision-making platform. By leveraging advanced analytics and machine learning algorithms, we enabled the company to analyze vast amounts of customer data in real-time, gaining valuable insights into consumer behavior and market trends. This not only enhanced their operational efficiency but also empowered them to make informed decisions that resonated with their target audience.

Barbara: Two projects that stand out are: our card issuing solution and our work to enable a watch to make payments. This is quite common now but at the time hadn’t been seen before - having a small chip in your watch and being able to use NFC to perform payments was so impressive! Similarly, being able to receive SMS notifications for payments. Today this is standard, but after working for several months on the SMS notifications and finally receiving a message on my phone was one of my nicest memories.

Ilina: I believe every project holds significance, even when its impact extends to just one individual. Throughout my journey, I've been fortunate to contribute to projects within the healthcare and media intelligence industries, each playing a crucial role. The first, centered on healthcare, simplified the lives of patients, while my involvement in media intelligence projects has brought invaluable insights to top executives at renowned companies.

Q5: If you could take a tech time machine back to the start of your career, what advice would you give yourself?

Mila: Looking back, I realize that every obstacle, setback, and even failure I encountered played a crucial role in shaping me into the professional I am today. Yet, in those early days, it was easy to feel overwhelmed or discouraged by the uncertainties of the tech world. I would remind my younger self to be brave - to embrace challenges head-on and view them as opportunities for growth and learning. I would encourage myself to step out of my comfort zone and tackle each challenge with confidence and resilience.

Svetlana: I would say myself to be more active listener.

Ilina: I would share Warren Buffett’s words of wisdom: The best investment you can make is in yourself.

Barbara: Do not worry so much!

Q6: What 'hidden superpower' has helped you navigate the tech world?

Barbara: Patience, patience, patience - and being stubborn enough to keep going until a problem is solved.

Mila: I agree, my superpower isn't some extraordinary ability or innate talent - it's simply my unwavering determination and refusal to give up. It's what has enabled me to weather the storms of uncertainty, overcome hurdles, and emerge stronger on the other side. As long as I continue to persevere, there's no challenge too daunting, no obstacle too insurmountable.

Svetlana: I would say it would be my problem-solving skills. I think software engineers tend to see problems from different angles and think outside the box.

Ilina: My ability to always find or create a way to achieve my goal has always been my greatest strength. It’s a skill that’s proven quite useful in the tech world, considering we mostly aim to solve problems.

Q7: Looking into a crystal ball, what future technology do you see becoming an integral part of our lives?

Mila: I envision a future where augmented reality (AR) becomes an integral part of our daily lives, and a world where digital information seamlessly blends with the physical environment, enhancing our interactions and experiences in profound ways.

Svetlana: AI, AR, Virtual Reality (VR), Biotechnology and Genetic Engineering could become integral parts of our lives. While these future technologies hold immense promise, it's important to approach their development and adoption thoughtfully, considering ethical implications, societal impacts, and the need for equitable access. By harnessing the power of technology responsibly and collaboratively, we can create a future that is not only technologically advanced, but inclusive, sustainable, and enriching for all.

Ilina: Undoubtedly that would be AI. Noteworthy tools such as OpenAI's ChatGPT, Microsoft's Copilot, Meta's LlaMa, and Google's Bard have been gaining increasing popularity. These AI advancements have proven exceptionally handy in assisting with and facilitating an infinite number of tasks, ranging from the routine to the complex. I anticipate that trend will continue.

Barbara: Artificial intelligence, definitely, and self-driving cars!

Q8: Who have been your female role models, and how have they shaped your journey?

Mila: My female role models have primarily been my professors and mentors throughout my journey in the tech industry. I also find inspiration in my colleagues. Every day, I witness their unwavering commitment, resilience, and determination as they pursue their dreams and contribute to the ever-evolving landscape of technology. These remarkable women have not only excelled in their respective fields, but have been instrumental in shaping my career. I have seen proof that gender is no barrier to success in technology.

Svetlana: Marissa Mayer, former CEO of Yahoo, is one of the female role models who has left a significant impact on the tech industry and inspired many, including myself. One of the aspects of Mayer's leadership I admire is her dedication to innovation and product excellence. Her analytical approach to problem-solving and her commitment to putting the needs of users first have taught me valuable lessons about the importance of empathy and usability in the development of technology products.

Q9: If you could have a mentorship session with any tech leader, who would it be?

Mila: I would choose Ada Lovelace, the visionary mathematician and writer widely regarded as the world's first computer programmer. As a pioneer in the field of computing, her insights and foresight have had a profound impact on the trajectory of technology. I’d love to ask what inspired her to envision the potential of computers beyond mere calculation, and how she overcame the societal constraints of her time.

Ilina: It would be interesting to meet Sal Khan, the founder of Khan Academy, a free-for-all education platform, which also employs AI for that purpose. While he may not have the same household recognition as that likes of Elon Musk or Bill Gates, his impactful use of technology for the betterment of millions around the world truly stands out. His approach encapsulates the essence of what we should all aspire to achieve in the tech industry, namely create a positive impact on a global scale.

 

Q10: How can tech industry become more inclusive of women?

Barbara: Involve already girls with IT very early. Get into schools and present the fancy, funny stuff that appeals to kids.

Mila: Encourage more women to pursue leadership roles within tech companies by implementing mentorship programs, leadership development initiatives, and sponsorship opportunities. Having diverse leadership teams not only fosters innovation but also serves as a visible representation of gender diversity within the organization. Also, create supportive and inclusive work environments that prioritize equal opportunities, pay equity, and career advancement for women, and offer flexible work arrangements, parental leave policies, and professional development opportunities to support women throughout their tech careers.

Ilina: The tech industry has shown promising signs of narrowing the gender gap in recent years, which is undoubtedly positive news. However, a fundamental aspect of fostering inclusion begins with how women perceive themselves. It is paramount for every woman to manifest confidence in her abilities, ensuring that self-doubt never becomes a barrier on her path to success. A more inclusive tech industry involves not only addressing systemic issues, but empowering women to believe in their own capabilities.

PXP Financial is one of the leading providers of payment services in the world and we are always looking for talented people to join us. Find out more about the careers we have on offer at https://www.pxpfinancial.com/careers

PXP Financial integrates Google Pay to boost conversion rates, increase customer data protection and maximise global reach

January 31, 2024 - PXP Financial, the experts in global acquiring, payment, fraud and data analysis services, today announces it has become a Google Pay Payment Service Provider (PSP). The move means PXP Financial can manage a Google Pay integration, in both web and native applications, as well as securely process transactions by decrypting the payment data and authorizing with acquirer directly.

Google Pay is a fast, simple way to pay on sites, in apps, and in stores using the cards saved to the users’ Google account. It boasts more than 150 million users worldwide and allows people to perform transactions without cash, making spending easy. 

Commenting on the announcement, Kamran Hedjri, Group CEO for PXP Financial, said: “Today, consumers expect to buy what they want, when they want, how they want. PXP helps its customers keep up with the ever-evolving changes and trends in the market, and demand from end-users. We are delighted to be able to add Google Pay to the range of online and in-store payment solutions we can support to help merchants increase sales, reduce friction, and grow customer loyalty by aligning with how people want to buy.”

PXP Financial initially engaged with Google in April 2023 and completed the integration in October, before launching with a merchant in November.

Google Pay is one of the most popular mobile payment software applications today, with recent data has shown there were more than 150 million users around the world in 2023. In addition, about 800,000 websites use it as their secure payment gateway, and about 20% of all mobile purchases are made with Google Pay. 

PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse global acquiring, 120+ alternative payment methods & financial services,
PXP processes over EUR 22,7 billion annually through its unified gateway, supporting business growth for its clients.

To find out more about the PXP Financial family of companies please visit: pxpfinancial.com

Annual Fintech Power 50 list recognises PXP Financial as among 2023’s 40 most influential companies.

PXP Financial, the experts in global acquiring, payment, fraud and data analysis services, has been revealed as the year’s top FinTech trailblazers by the Fintech Power 50.

Announced at the Fintech Connect conference in London’s ExCel centre on 7 December, the Fintech Power 50 is an annual guide to the most influential and innovative companies and personalities shaping the industry. Each year, thousands of nominations are narrowed down to the 40 companies and ten individuals which stand out as the year’s most dynamic.

This year, around 900 companies were nominated for inclusion. PXP Financial made the final list thanks to its significant experience in, and focus on, shaping and leading innovations in the payments space. Its company culture and values, which include a 25% higher-than-market rate for promotions, also stood to out to the Fintech Power 50 panel.  

PXP Financial Group CEO and Founder Kamran Hedjri commented: “We are delighted to have been recognised by the Fintech Power 50 and are incredibly proud of this accolade. PXP Financial stays at the cutting edge of the international fintech and payments communities thanks to the expertise of our people. It is their contributions which have earned us our reputation for shaping the future of our sector.

“Our principles are rooted in a commitment to success, fearlessness in driving change, the cultivation of trust and a commitment to continuous learning. In the dynamic realm of payments, we work immensely hard to remain at the forefront by harnessing innovative technologies and new solutions, creating a top-tier payment experience for our customers. Our culture is defined by ambitious objectives within an open and transparent communication ethos, and a relentless pursuit of excellence.

“Some fantastic businesses have made this year’s final cut, we are in excellent company and looking forward to driving change together in 2024.”

The Power 50 is a network of diverse FinTech companies and influencers selected for their reputation for transforming financial services, with a printed guide distributed at major industry events such as Money20/20, Sibos, Hong Kong Fintech Week.

PXP Financial offers a comprehensive end-to-end payment platform, providing a single, unified payments solution that caters to online, mobile and point of sale transactions. Backed by in-house acquiring capabilities, a diverse array of 120+ alternative payment methods and a suite of financial services, PXP Financial processes over EUR 22.7 billion annually through its unified gateway. 

To find out more about the PXP Financial family of companies please visit: pxpfinancial.com 

To view the official Fintech Power 50 list, please visit: thepower50.com.

December 1, 2023 - Black Friday, once a day of crowd-filled, in-person mayhem, is now a much more subdued affair. This shift is thanks in large part to the rising dependence on online shopping accelerated by the pandemic. Shoppers can now take advantage of Black Friday bargains from the comfort of home and the holiday sales event still manages to attract millions of consumers.  

Ahead of this year’s event, the National Retail Federation projected that an estimated 182 million US consumers were planning to shop in-store and online through the five-day Thanksgiving weekend, with Black Friday leading the charge, making up 130.7 million of the potential shoppers.  At the same time, economists had noted that fear of inflation, while not as acute as a year ago, is still a concern looming large in consumers’ minds, potentially leading to more modest spending. Amongst these conflicting predictions, retailers across the world had their fingers crossed for a record-shattering spending spree on Black Friday 2023. So, now the day has come and gone, did they get the early Christmas present they were hoping for? 

According to the NRF, a record 200.4 million US consumers shopped over the five-day holiday weekend from Thanksgiving Day through Cyber Monday, surpassing last year’s record of 196.7 million, and its own expectations for 2023. This would indicate that Black Friday is as important as ever for merchants. However, we got a mixed response when we asked our LinkedIn network if Black Friday is still critical for driving sales and revenue.  

Half of the respondents we asked viewed Black Friday as somewhat declining in importance. This sentiment is mirrored in PwC’s holiday survey, which found that just 19% of shoppers were planning to shop on Black Friday, with 27% planning to shop in early November and 16% planning to shop between Cyber Monday and Christmas in anticipation of last-minute deals. The NRF also noted that consumers are increasingly preferring to spread their holiday shopping over the entire season.  So, with online shopping and earlier sales, does Black Friday still hold the same power over holiday shopping as it has in the past? Well, the remaining 25% of those we spoke to argued that the day remains critical. This spread in opinions points to the evolving nature of Black Friday in retail; the actual day may be slowly reducing in criticality for sales, but retailers are strategically shifting towards an extended Black Friday sales period. 

It’s no secret that Black Friday sales don’t last 24 hours anymore. Today, Black Friday adjacent sales messaging hits inboxes even earlier than Halloween. It’s been a slow but steady shift, with retailers moving their holiday deals earlier and earlier over the course of around a decade. Today, many merchants run Black Friday deals throughout November and into December. This has the benefit of causing less pressure on retailer infrastructure on key dates, while still meeting customer demand for savings. It could also mean reaching a different demographic of Black Friday shoppers, who have been less engaged in the ‘big day’ and less likely to plan around it. 

The key takeaway? Black Friday lives on and will always be an important period in the retail calendar, although the specific date appears to be getting diluted as retailers expand the Black Friday period. This evolution of Black Friday applies to both online and in-store because, while it may not look the same as it did decades ago, in-person Black Friday shopping will not vanish entirely. Shopping in-store has a lot of appeal for many consumers and can be a social pastime, especially in the run-up to Christmas. People are more likely to do their retail shopping on a Friday than other weekdays, suggesting an end-of-the-week buzz or treat is an important part of the week. In-store payment methods are enhancing the experience, ensuring loyal in-store shoppers benefit from the same efficiency as those who shop online.  

For retailers, this means ensuring they are able to accept a range of payment methods both on and offline. It also means harnessing payment data year-round so personalised offers can be made during the Black Friday sales period. In an e-commerce landscape where 70% of consumers abandon their carts at the last minute, making smart use of data will set retailers apart in 2024 in as a wave of innovation continues to sweep the retail technology playing field.  

To find out how PXP can help you prepare for peak sales periods to attract consumers and maximise revenue, get in touch with our team of payments experts today. 

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by in-house acquiring, a variety of payment methods & financial services, PXP processes over EUR 22.7 billion annually through our unified gateway. Whatever your business needs today or tomorrow, PXP Financial’s innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com. 

November 8, 2023 - New data released by PXP Financial, the experts in global acquiring and payment services, has revealed which countries saw consumers place the most bets on the recent Rugby World Cup finals – with surprising results.

The data compares the volume of payments processed on Saturday 28 October, the day of the final, compared with the previous seven Saturdays.

While, as expected, consumers in South Africa were keen to back their winning team, with a more than 14% increase in payments on the day of the final, some of the biggest increases in volumes occurred in nations which did not send teams to this year’s World Cup.

This year marks the first Rugby World Cup without a Canadian side in the running, and the second without a USA team, which has caused many to question what the future of rugby in North America will look like. PXP Financial’s data shows that consumers in Canada are as enamoured with the sport as ever, though, with an almost 15% increase in payments volume – higher than in South Africa.

While Brazil is known for football fandom and as the most successful team ever in the history of the FIFA World Cup, it did not qualify for the 2023 Rugby World Cup. Despite this, rugby is steadily growing in popularity. This is backed by the data from PXP Financial, which shows an increase in payments of almost 20%. Elsewhere in Latin America, Colombia, which has never qualified for a Rugby World Cup, saw an increase of more than 6% - almost double the international average. This contrast with Brazil shows how interest in rugby differs greatly across the region, and pinpoints Brazil as a hotspot for growth.

Across Europe, there were also clear differences between countries. Italy, which lost out to France ahead of the quarter-finals, saw the highest increase in payments volumes compared to any other country at an almost 24% increase.

After Italy came Belgium, which has yet to send a team to the Rugby World Cup, at nearly 20%. By contrast, German and Spanish consumers were responsible for 9% and 7% increases respectively. Spain was disqualified from this year’s World Cup in April for fielding an ineligible player in two qualifying matches and lost a subsequent appeal, which could explain the more modest increase in volume compared to most other European countries.

In Greece, recent years have seen different bodies grapple over who is in charge of Greek rugby. This turmoil is echoed in PXP Financial’s data, which shows a mere 0.2% increase in payment volume.

Kamran Hedjri, CEO and Founder of PXP Financial, commented: “These surprising results show how rugby fandom is surging across the globe and creating opportunities for operators in new markets.
It is fascinating to see how different nations’ appetites for rugby compare and contrast, with nations that did not send teams to the tournament still placing significant volumes of bets. With data from World Rugby showing significant increase in participation this year, we’re here to help operators understand how best to maximise their share of this growth.” 

“This international surge in interest around the 2023 Rugby World Cup underlines the importance of preparing for major sporting events no matter where your business operates and being equipped to offer smooth cross-border payments. Offering handpicked payment methods that align with local preferences is also key to taking the advantage.”

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, a variety of alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com. 

Media contact
Emma Hynes, SkyParlour for PXP Financial
emmahynes@skyparlour.com
+44 (0)330 043 1315

PXP Financial Ranked Among Top 100 U.K. Companies Recognised by Newsweek for Outstanding Employee Sentiment and Satisfaction

New York, NY (October 4, 2023) – PXP Financial, the experts in global acquiring, payment, fraud and data analysis services, has been named in the Newsweek Top 100 Most Loved Workplaces® (UK) list and received certification as a Most Loved Workplace®.

The 2023 Top 100 Most Loved Workplaces® rankings are the result of a collaboration between Newsweek and the Best Practice Institute (BPI), a leadership development and benchmark research company. 

The results were determined after surveying more than two million employees from businesses with workforces varying in size from 50 to more than 100,000. The list recognises companies that have created a workplace where employees feel respected, inspired, and appreciated and are at the centre of the business model. PXP Financial has ranked at number 90.

PXP Financial’s CEO, Kamran Hedjri, commented: “We’re proud to be recognised as a workplace where employees enjoy a positive and nurturing environment where their achievements and progress are celebrated. Our person-centred approach to building teams has enabled us to create a highly collaborative culture where our people feel confident in their work and are encouraged to thrive.

“With a 25% higher-than-market rate for promotions, we are committed to fostering a supportive workplace where people know they will be recognised for their contributions, which results in greater job satisfaction and productivity. This positive ethos translates to best-in-class customer service, too.”

The analysis assessed companies against the Best Practice Institute’s ‘Spark Model’, a peer-validated framework with criteria including Systemic Collaboration, Positive Vision of the Future, Alignment of values, Respect and ‘Killer Achievement.’ Sentiments indicating how engaged employees are, how positive they feel about their workplace, and how committed they are to the organisation’s success were also analysed to identify the Top 100 Most Loved Workplaces.  Research by the BPI has found that Most Loved Workplaces® produce three to four times better customer service, employee performance, and retention than other businesses.

Newsweek’s Global Editor in Chief, Nancy Cooper, commented: “With the rapidly changing workplace and competition for top talent, more companies are recognizing the importance of employee engagement and commitment”, said Nancy Cooper, Global Editor in Chief, Newsweek. “The workplaces that have demonstrated a commitment to their employees in 2023 are more likely to attract the best talent and deliver strong business outcomes.”

BPI and Most Loved Workplace Founder and CEO, Louis Carter, added: "Fully understanding and acting upon employee sentiment, emotion, and recommendations continues to be a challenge and top priority of executive leadership,” said Louis Carter, CEO of Best Practice Institute. “The companies on this list have committed to listening carefully to their employees to create a workplace employees love.”

For the full Newsweek list of 2023’s Most Loved Workplaces, please visit https://www.newsweek.com/rankings/uks-100-most-loved-workplaces-2023.

Methodology

To identify the top 100 companies for the Newsweek ranking, companies were evaluated and scored as follows: 35 percent of the initial score was based on employee survey responses; 25 percent was derived from analysis of external public ratings from sites such as Comparably, Careerbliss, Glassdoor, Indeed and Google; and 40 percent came from direct interviews with and written responses from company officials. Newsweek then conducted additional research into every company on the list, as well as the top runners up, to determine the final list of 100 companies and their ranking. (The list includes both U.S. firms and companies with a strong U.S. presence that are based overseas.)

About Newsweek

Newsweek is the modern global digital news organization built around the iconic, over 85-year-old American magazine. Newsweek reaches 100 million people each month with its thought-provoking news, opinion, images, graphics, and video delivered across a dozen print and digital platforms. Headquartered in New York City, Newsweek also publishes international editions in EMEA and Asia.

About Best Practice Institute

Best Practice Institute is an award-winning leadership and organization development center, benchmark research company, think tank, and solutions provider. BPI is the certifying body for Most Loved Workplace® and conducted the original research to create the model and criteria for becoming a Most Loved Workplace®. BPI’s research proves that Most Loved Workplaces® produce 3-4 times better customer service, employee performance, and retention than companies not loved by their employees.  

For more information on how to apply to become a certified Most Loved Workplace in 2024, go to: http://www.mostlovedworkplace.com

Media Contact: 

Scott Baxt

Head of Research, Most Loved Workplace®

scottbaxt@bestpracticeinstitute.org

+1-917-805-6413

About PXP Financial

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by in-house acquiring, a variety of payment methods & financial services, PXP processes over EUR 22.7 billion annually through our unified gateway. Whatever your business needs today or tomorrow, PXP Financial’s innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com. 

Earlier this month, industry experts and professionals from across the payments sector gathered at an exclusive event in Vienna, hosted by The Payments Associations EU & UK in collaboration with PXP Financial and ForumF. An essential calendar date, this was a great chance to catch up with some of payments’ most influential and inspiring leaders and hear their thoughts on the trends impacting the industry.

Attendees were welcomed by our CEO, Kamran Hedjri alongside The Payments Association’s Tony Craddock and Thibault De Barsy, kicking off a day of insightful discussions on the future of payments in the DACH region, cross border payments and Open Banking.

With such a broad array of senior payments leaders in one place, it would be impossible to capture all the interesting and valuable dialogue. So, instead, here is a snapshot of our key takeaways.

Friction still a challenge for cross-border payments

The value of cross-border payments is set to rise to over $250 trillion by 2027, a surge of more than $100 trillion within a decade, but sending money across borders remains filled with friction. In fact, 2%-5% of payments are subject to an inquiry or investigation, leading to delays before payment can be completed. There are several reasons friction occurs, including disparity in regulations between countries, a lack of standardisation and a general lack of understanding of cross-border payments.

The industry goal is, of course, instant payments across all cross-border payment corridors that match the speed of domestic faster payments - which can now be settled in many countries in under 10 seconds. The panel shared insights into how this might be achieved, with the discussion ranging from payment system interoperability to legal, regulatory and supervisory frameworks, and cross-border data exchange.

Cross-border payments can only reach their full potential with coordinated action, programmes such as the UK’s Real-Time Gross Settlement (RTGS) service are a positive step. These enhancements will not only improve domestic payments, but provide the technical capability to deliver some of the enhancements needed for frictionless cross-border payments.

While efforts to improve the system continue, some countries are looking to an alternative that is rapidly gaining popularity – Central Bank Digital Currencies (CBDCs).

Several pilots have been conducted, and they have shown the potential of CBDCs as a way to make payments without using correspondent banks or private sector vehicles to move funds across borders. But for them to improve cross-border payments, central banks must make fundamental decisions on foreign access and how CBDCs connect across jurisdictions.

While these discussions are taking place, businesses should work to improve their awareness of the challenges around cross-border payments, as this will help them remain competitive in a global market. This means working with a payment provider that has experience with cross-border payments and can help them navigate the complexities involved.

Future of CBDCs in DACH and Central Europe

Against the backdrop of cross-border payments friction, it’s no wonder that one of the main topics of the day was the outlook for CBDCs, particularly across the DACH region and Central Europe. The consensus at the Forum was that they are an inevitability we need to prepare for. The future appears bright in Europe, with the European Commission publishing its proposal for regulating the digital euro, giving legal backing to the currency, and making it mandatory for all merchants to accept it.

More than 80% of central banks are considering launching a CBDC or have already done so, and the benefits to the consumer are too great to ignore when it comes to stability, security, and convenience. There is a significant appetite for electronic payments in the EU; payments reached €240 trillion in value in 2021, compared with €184.2 trillion in 2017, according to the European Commission.

Central banks and governments across the DACH region are taking significant strides as the CBDC buzz picks up. Austria continues to be a hub of payments technology and innovation as blockchain adoption grows across its public and private sectors. The country’s central bank, OeNB, has long been developing its wholesale CBDC, Project Delphi, while the Swiss National Bank is set to launch a pilot imminently.

In Germany, the banking community has seen intense debate around the future of CBDCs with the Association of German Banks supporting the digital euro. It also recommended limitations on the amounts stored by retail customers, and that businesses should be banned from using it as a store of value. The conversation continues across Germany’s sizeable financial sector.

Looking across Central Europe, Poland is conducting research into the ‘digital zloty’ and the Central Bank of Hungary announced a CBDC project in August, citing the need to behave like a fintech to ensure seamless payment experiences in the future.

While the general outlook is positive, implementing CBDCs remains complex, calling for careful consideration of technological infrastructure, legal frameworks, security, privacy, and garnering public acceptance. Therefore, further planning, testing and pilot phases will be needed in the coming months.

Changes on the Open Banking horizon

After years of closed banking, Open Banking technology takes centre stage. EU countries have been among the quickest to adopt it, while others are still playing catch up. PSD3, the European Commission’s proposed update to the Payment Services Directive, was a hot topic during this panel discussion.

PSD3 is split into two parts: a revised Payment Services Directive, which deals with the licensing provisions of payment service providers (PSPs), and a new Payment Services Regulation, which will update and replace the other elements of PSD2. Moving these elements from a directive to a regulation should ensure the rules are applied more consistently across the European Union.

The new regulation will strengthen the foundations of Open Banking by introducing stronger functionality and performance rules for the APIs that banks provide to fintech’s, improving payment information sharing, and removing unnecessary checks and ‘steps’ in the data flow.

But it’s not just the EU that has a much-anticipated update for those in the payments space. With the recent recommendations on the next phase of Open Banking from the Joint Regulatory Oversight Committee (JROC), momentum is gathering in the UK too. 

In June 2023, the Joint Regulatory Oversight Committee confirmed an ambitious programme to realise the full potential of Open Banking. Two regulator-led working groups will be tasked with developing the frameworks for expanding variable recurring payments and the design of the future open banking entity.

Thank you!

A huge thank you to all that attended this fantastic event, it is your energy and insight which drives the direction of travel for our industry. This is an exciting and pivotal time for payments in Europe, and it will be fascinating to see what strides are made between now and the next Payment Leaders’ Forum.

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, a variety of alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about  PXP Financial family of companies, visit: www.pxpfinancial.com.

Our world tour has taken us from the stunning city of Vienna to the dynamic metropolis of London, and most recently to the bustling capital of Bulgaria, Sofia. Our tour so far has allowed you to get to know our European offices very well, so we thought we’d jump across continents for our final stop. Today, we are in Hyderabad, India.  

Hyderabad is a vibrant city, and home to PXP Financial’s India office, where our support and operation teams are based. We met up with our HR Business Partner, Usha Rout, who primarily deals with employee lifecycle management, to find out about day-to-day life at PXP Hyderabad.

Q: What do you think Hyderabad is most known for?

Usha: “Hyderabad is one of the largest cities in India located in the south of the country and there are a few things that it is well known for. Hyderabad is renowned for its cuisine, especially its biryani, which actually differs from other variations of the Biryani dish. Eating Hyderabadi Biryani is a must if you’re in the city!

Hyderabad is often referred to as the ‘City of Pearls’ because of its historical significance in the pearl and diamond trade. While the area has evolved since then – it is now a significant technology and economic hub - the nickname reflects this important legacy of the pearl trade.

There are also many impressive monuments; the city is historically and architecturally rich. I think this is because of its long history of cultural diversity. The most famous landmark is the Charminar, a late-16^th-century mosque with four grand arches that is an iconic monument and is well worth a visit. One of my favourite places to visit in Hyderabad is the Golconda Fort, known for its impressive architecture and acoustic marvels.”

Q: What are the best or most exciting things to do in Hyderabad and in India generally?

Usha: “There is always lots going on in Hyderabad and India more widely. Across the country we have numerous UNESCO World Heritage Sites - the Taj Mahal in Agra is a stunning place to visit and is one of the Seven Wonders of the World. It’s an incredible white marble mausoleum that is perhaps the most iconic symbol of India. Other exciting landmarks include the Qutub Minar, Hampi, Mysore Palace, and Ellora and Ajanta Caves.

I think India is a breathtaking country with many natural wonders. Himalayan trekking gives you the most amazing views, not to mention the Goa Beaches, Kerala Backwaters, Rajasthan deserts, the high-altitude lakes such as in Kashmir, and the dramatic mountains of Ladakh.”

Q: What do you most value about your office and why?

Usha: “I love the vibe of our office. I have amazing colleagues, which makes the office a wonderful place to spend time in. The office location is also great, we are right in the heart of the city and the premises are truly one of a kind – the perfect blend of natural and modern aesthetics.

I also really value the diversity and cultural blend. We have people from a myriad of faiths and we come together to celebrate all the festivals across the different faiths represented in the office.

Additionally, given the central location, there are a lot of really nice places to get lunch from or to go after work.”

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, a variety of alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about  PXP Financial family of companies, visit: www.pxpfinancial.com.