The news of the launch comes as the UK economy is confronted with difficulties steaming from its cost-of-living crisis, the threat of recession, and a rise in interest rates.
Judopay extends this new product via a partnership with Axerve, its sister company. The payment orchestration solution seeks to enable merchants to link and route to any global payments player via a single platform.
The new offering will also provide merchants with the option to decide where they want to route their payments based on aspects such as price, acceptance rates, as well as the geographical location of a customer. Therefore, merchants will be able to enjoy benefits such as having control over their payments, reducing processing costs, and improving authorisation rates and customer experience at checkout.
Apart from supporting the growth of businesses, the payment orchestration solution sets out to provide customers with a payment solution that is effective cost-wise. As per the press release, Jeremy Nicholds, CEO, Judopay argued for the launch of such a product by saying that: ‘Many industries and sectors have long been dominated by the same major “legacy tech” incumbents. However, this solution will give merchants more technical and financial control over their payments.’
Judopay is a mobile payment service provider and AppComerce facilitator that aims to provide its customers with fast and frictionless payments. The company offers card and alternative payment methods as well as payment tools such as pay by link and now, payment orchestration.
The fintech has partnerships with tech giants like Google and Apple, as well as with payment networks like Visa and Mastercard that allow it to craft solutions to enhance the overall payment experience for customers and merchants alike.
In 2023, previous to the news of the launch of its payments orchestration solution, the company gained attention after it was announced that it had been acquired by Fabrick, a Europe-based provider of Open Banking.
In 2022, Judopay announced the launch of Shodan, a new tech platform based on cloud-native architecture. Later in 2022, the fintech secured a partnership with Mastercard intending to boost mobile purchases following the pandemic.
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