PAYSTRAX has announced the acquisition of fintech company Nochex in order to strengthen its presence in the region of the UK.
Following this announcement, this strategy represents an important step in the process of strengthening PAYSTRAX’s presence in the UK, as well as continuing to develop a secure and reliable payment processing network across the region of Europe.
By joining forces, PAYSTRAX and Nochex are set to combine their experience in payments and bring more value to UK businesses. This includes faster and smoother transactions, as well as a wider range of payment options for merchants and businesses of all sizes (or verticals).
More information on PAYSTRAX’s acquisition of Nochex
According to the official press release, the Nochex brand and team are set to remain in place and to continue to operate under the same trusted name UK merchants already know. The shared goal of this initiative is to build on Nochex’s foundation while leveraging PAYSTRAX’s acquiring expertise, technology, and reach across the region of Europe. At the same time, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
This announcement follows PAYSTRAX’s partnership with Akurateco, which aimed to expand its acquiring and processing services across Europe. Through this collaboration, PAYSTRAX was set to serve as one of Akurateco’s provider partners, integrating its acquiring services for Visa, Mastercard, and alternative payment methods. Additionally, the two companies aimed to connect merchants with the most suitable payment infrastructure in each market, while Akurateco was set to assist payment service providers, acquirers, and merchants in optimising payment flows and increasing revenue through improved integration, smart routing, risk management tools, advanced analytics, and other payment technologies.
Earlier this year, PAYSTRAX teamed up with global fraud and financial crime prevention company Featurespace in order to optimise security measures against fraudulent activities for clients in Europe. PAYSTRAX was set to continue to work with merchants and traders across multiple industries, while also utilising Featurespace’s Technology in order to analyse businesses’ transactional behavior. Furthermore, the solution was developed to identify suspicious transactions, while also safeguarding PAYSTRAX from processing payments that contribute to fraud or other threats.
