Weekly Newsletter

13 September 2023

Weekly Newsletter

13 September 2023

APEXX partners with Klarna to offer flexible payments globally

APEXX Global, the global payments orchestration platform, has partnered with Klarna, offering its BNPL solution, APEXX Connect, to merchants globally

Douglas Blakey September 07 2023

APEXX Connect, which allows merchants to host multiple BNPL services via a single API, has integrated Klarna. The collaboration opens up the travel sector for Klarna. The companies say that the alliance will help APEXX’s merchants reduce their transaction costs, increase sales and access Klarna’s widespread customer base.

APEXX is a one stop shop for all merchant payment needs – as it is partner agnostic, APEXX can route domestic and cross border payments in the most efficient and cost-effective way. This helps other businesses like Ryanair, CarTrawler and Avon to reduce payment cost and increase payment speed and conversion rates. The payments system has historically been balanced completely in favour of the card schemes to the detriment of merchants – APEXX is changing that.

The partnership between APEXX and Klarna is already in effect. Brian Joseph, VP, Partnerships at APEXX Global said: “We are proud to partner with a market-leading payments network in Klarna. This aligns with our mission to provide the most innovative solutions to our merchants. APEXX Connect will now be available in over 50 markets. This is testament to our commitment to serving a global clientele in every major market.”

Expanding into new markets, new verticals

Anisha Mohammed, Head of Partner Success at Klarna added: “Our partnership with APEXX allows us to continue our strong growth mission, by expanding into new markets and looking into different verticals. APEXX are extremely strong in the travel sector with a number of well-known clients. So this agreement is well placed for us as we take the next step on Klarna’s journey.”

APEXX Global secured an investment of $25m in its Series B funding round earlier this year.

The fundraise saw the participation of various European investors such as MMC Ventures, Alliance Ventures and Forward Partners.

In February, APEXX Global announced a partnership with digital account-to account (A2A) transactions provider Trustly to provide merchants with enhanced recurring payments system.

Established in 2016, APEXX’s payments orchestration platform integrates acquirers, gateways, shopping carts and alternative modes of payments into a single API.

Analyzing the impact of digital payments in Sports

Per GlobalData, the global digital payments industry is forecasted to grow at a CAGR of more than 20% by 2030. Sporting venues have lagged behind other industries in terms of adopting cashless methods of payment, particularly in North America, but the pandemic has ensured a significant change in this direction. Brands like PayPal and JP Morgan Chase have been successful in establishing a foothold in the sports sponsorship market, and there will be significant room to grow, given how much the industry is forecast to grow over the next decade.

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