Under the agreement, Credorax will serve as a digital acquirer for merchants that process EMV transactions through the payworks compliant white label mobile payment processing platform. Due to Credorax’s merchant onboarding process, mobile payment providers will be able to activate a number of merchants within a shorter period of time.
Credorax provides online payment processing and acquiring bank services to online merchants worldwide. Credorax is a licensed financial institution and a Visa and MasterCard principal member
In collaboration with its partner Germany-based payment transactions processor PAY.ON, payworks provides a chip and PIN processing gateway to mobile payment providers. payworks develops and operates mobile payment solutions for payment providers, banks and telecommunications providers. The company’s payment products comprise both modular components as well as turnkey solutions in the areas of mobile PoS and mobile commerce.
In recent news, payworks has received project funding from the Central Innovation Program for SMEs (ZIM) by Germany’s Federal Ministry of Economics and Technology.
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