London-based cross-border payments platform xpate has launched a new core banking solution to simplify merchant payment system integrations with multiple acquirers.
Xpate says its cloud-based solution will give merchants “the widest possible access” to integrated payment processing, real-time data analytics and transaction routing to ensure “higher approval rates.” high”, while helping them to further exploit cross-border e-commerce opportunities.
Founded in 2018, xpate is a fintech start-up specializing in global payments and claims to make the payment process “easier, faster and accessible to everyone”.
According to Xpate, legacy computing platforms threaten the efficiency and profitability of merchants and acquirers looking to expand their cross-border operations.
“Core banking technology is the best thing you can have in-house, but it’s incredibly expensive and difficult for businesses to grow on their own,” says Mihails Safro, founder and CEO of xpate.
“Outsourcing isn’t always the solution either, as third-party vendors may lack the flexibility and infrastructure to design solutions tailored to individual business needs.”
The company adds that the platform was designed to “manage the growing demands of e-commerce and the growing convergence of digital channels.”