Apexx operates as a middleman between banks and merchants. The company says that those clients who use its services can increase payment volumes by 20% and estimates that it will be processing around USD 20 billion worth of payments with ecommerce brands by the end of 2022 across the world.
Company officials say that payment service providers are struggling with the speed of change and offering their customers the solutions they want in the markets they serve, especially among those in the Buy Now, Pay Later industry. In the US, shoppers have flocked to Buy Now, Payer Later in 2021 as online shopping has rocketed amid the pandemic, benefiting fintech companies like Affirm, Klarna, and Square's Afterpay, according to the press release.
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