MIAMI– December 7th, 2021 – Today, Curaçao based CX Pay B.V. announced that the FinTech company has selected the payment and anti-fraud platform CyberSource, a Visa solution, to broaden its service offering, while further increasing its application’s compatibility to serve a progressively wider market.
CX Pay first offered online payment services in 2016 and has grown its partner and client base across the Latin America and Caribbean (LAC) region. CX Pay has provided solutions to merchants in 28 markets throughout the PanCaribbean area and beyond with some special integrations.
During the past five years, the e-commerce facilitator’s merchant base has experienced a compounded annual growth rate of 54.2% which have resulted in a compounded annual growth rate of 129.6% in the number of transactions and 209.8% in sales volume.
“After 5 years of laying the foundation for payments innovation in the region, CX Pay is ready for the next level and teaming up with Visa’s Cybersource technology is a logical step towards realization of the company’s next growth wave,” said Luis Santine, Chief Executive Officer of CX Pay.
“The new partnership with CX Pay and Cybersource will bring innovation and new acceptance solutions to support growth and higher competitiveness amongst merchants in the Caribbean”, said Jorge Salum, Senior Business Development Leader Caribbean Countries at Visa. “Cybersource, a Visa wholly owned subsidiary since 2010, will help small businesses reach a larger number of consumers. At Visa, we know that merchants’ prosperity contributes to the growth of economies.”
In addition to merchants, CX Pay has established a strong network of banks who partake in e-commerce activities in the region. The company’s compatibility with airline, booking and tourism software, regular retail and digital services software makes CX Pay a preferred e-commerce partner for a growing number of merchants.
The collaboration with Cybersource enables CX Pay to offer service in additional territories and develop new payment features with the latest technology to serve even more merchants in the region. The Cybersource global payment management solution will also make it possible for CX Pay to support merchant platforms like Shopify and many other software providers and maintain the highest standard of security with 3DSecure 2.0 and other risk tools, including the latest technologies like “Tap on Glass”.
About CX Pay B.V
CX Pay is a payment solutions provider based in Curaçao, Aruba and Mexico. CX Pay’s focus is on payment technology and e-commerce innovation that is geared towards simplifying the collection of funds for business owners through traditional card schemes like Visa and MasterCard, AMEX and Discover, as well as for various Local Payment Methods such as iDeal, Sofort Banking, Alipay, BitPay, Banamex and ELO, to just name a few. Next to its gateway services, CX Pay’s offering includes an e-wallet solution, a cashless event solution and a donation based crowdfunding platform. For more info visit: www.cxpay.global
Cybersource is a global, modular payment management platform built on secure Visa infrastructure with the benefits and insights of a vast $427 billion global processing network. This solution helps businesses operate with agility and reach their digital commerce goals by enhancing customer experience, growing revenues and mitigating risk. For acquirer partners, Cybersource provides a technology platform, payments expertise and support services that help them grow and manage their merchant portfolio to fulfil their brand promise.