From point of sale to 'single point of truth'

IXOPAY is part of the IXOLIT Group, an independent, international information technology company based in Vienna, Austria. IXOLIT offers software solutions, as well as custom development for the ecommerce and payments industries. IXOPAY operates as IXOLIT's payment-facing brand. In 2014, the company launched a North American IXOPAY subsidiary in Orlando, Fla. According to a company statement, IXOPAY is a best of breed, highly scalable and Payment Card Industry Data Security Standard certified payment platform for white-label clients and enterprise merchants.

Veteran entrepreneur Rene Siegl founded the company in 2001 and serves as CEO. Adam Vissing, IXOPAY's vice president of sales & business development, spent two decades working in software engineering, enterprise applications and ecommerce. He is focused on helping IXOPAY clients streamline and scale payment processes globally. Strategic adviser Gox Mailer joined IXOLIT as an internal adviser for internationalization, media acquisitions and internal communication structures. He is also responsible for development and implementation of IXOPAY's go-to-market strategy.

Built for scalability

The IXOPAY architecture was designed to address challenges faced by large, online merchants across all risk categories, as well as payment service providers (PSPs) and independent software vendors (ISVs). The company said it consolidates payment flows and processes into a single, scalable and easily configurable platform to reduce the technical impact of implementing new payment solutions, facilitate back-office integrations and provide what IXOPAY calls a "single point of truth" for payments-related financial reporting.

The IXOPAY platform attained Level One Payment Card Industry Data Security Standard certification in 2017 and has since established plugin-based integrations with multiple acquirers, processors, PSPs and ISVs, covering more than 200 international payment methods. The business caters to enterprise merchants that operate multiple brand-focused platforms. According to Vissing, these platforms tend to evolve organically, resulting in a multitude of integrations. "Most ecommerce businesses yearn for a payment platform that processes all their transactions efficiently and securely, offers their customers a wide range of international and local payment methods and helps them compete successfully in cross-border markets," he said. "Through a single integration, IXOPAY enables such businesses to offer more than 200 payment methods, boosting conversion rates and reducing customer churn."

One integration, full functionality

At the heart of IXOPAY is an intelligent routing system with cascading functionality, as well as a fully-configurable risk engine, automated reconciliation and settlement capabilities, tokenized card vaulting, and a growing library of zero-coding integration adapters. Through one integration, IXOPAY's Enterprise Merchant solution enables corporations with multiple affiliates, departments, brands, web stores, etc., to manage all payment transactions safely and cost effectively by centralizing payment processes.

"Payment processes require real-time optimization to ensure maximum cost-efficiency, but beyond lower transaction costs, this approach reduces decline rates and improves the user experience significantly," Vissing continued. "This is why our clients benefit from IXOPAY's Smart Routing Engine, which helps reduce overall transaction fees through the automated routing of individual transactions to the best possible acquirer/processor based on various parameters such as card type, risk score, geo-location, etc." The firm also offers acquirers and PSPs a white label option that is fully integrated, certified and customizable. IXOPAY partners benefit from the centralized, multitenant architecture, powerful configuration tools, and broad selection of integration adapters and payment methods. "Our independent platform enables payment businesses to operate using their own brand, logo and identity, thus clearly differentiating themselves from the competition," Vissing stated.

The current focus of the IXOPAY team is to grow the customer base within the company's home markets of Europe and North America to extend IXOPAY's payments functionality. IXOPAY additionally plans to continue building up its partnerships with acquirers, processors, risk management providers and other technical entities to help clients further expand their payment processing options. The company is also developing new partnerships involving POS integration, processing innovations and more.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.