ConnexPay has unveiled its groundbreaking ‘Intelligent PayOuts’ technology, harnessing AI and data analytics to enhance payment processing globally. Ben Peters, CEO of ConnexPay, emphasised the transformative impact of the system, which leverages insights from a vast transaction network to optimise payment outcomes and streamline processes.
ConnexPay Introduces “Intelligent PayOuts” Technology
New System to Optimise Payment Processing through Advanced Data Analytics
June 11, 2024 – Atlanta
ConnexPay, a company offering a unified payments platform, has announced the roll-out of its new “Intelligent PayOuts” technology. This new system integrates artificial intelligence (AI), machine learning, and big data analytics to enhance payment processing for its clients globally.
Intelligent PayOuts, which is patent-pending, aims to streamline payment outcomes by analysing transaction data across ConnexPay’s extensive network. This effort is intended to optimise various payment processes, including card acceptance rates, reduction of cross-border and foreign exchange fees, maximisation of rebates, and strategic supplier payments.
Ben Peters, Chief Executive Officer at ConnexPay, highlighted the significance of the new technology in a statement. “This market-leading technology is truly generative and derives learnings from our global payment network to ensure each client delivers the right payment to achieve the optimal payment outcome,” said Peters.
Enhanced Payment Outcomes
Using data analytics, Intelligent PayOuts aims to offer clients better outcomes by making real-time adjustments based on transaction volume. This system is designed to leverage a larger data set, beyond the individual client’s payment volume, to deliver improved efficiency and cost savings.
Earlier in the year, ConnexPay introduced the “ConnexPay Exclusives,” a suite of payment tools that includes the Global Travel card, Flex card, and ConnexPay UATP card. According to the company, the combination of Intelligent PayOuts and ConnexPay Exclusives offers clients a comprehensive range of tools for achieving optimal payment results.
Company Background
Founded in 2017, ConnexPay seeks to bridge PayIns and PayOuts into a single platform, which the company claims simplifies contract requirements and reconciliation processes for its clients. The company services various sectors, including global travel, ticketing, insurance and warranty claims, loyalty and rewards, and media and advertising. They have expanded their reach to serve clients on six continents and offer payment services in over 175 countries and territories.
The company’s achievements include being named “Travel Innovator of the Year” by Phocuswright in 2023 and making it to the Inc 5000’s list of fastest-growing companies in the United States.
As companies navigate an increasingly complex landscape of global transactions, the introduction of advanced systems such as Intelligent PayOuts may offer a competitive edge. However, it remains to be seen how these technological advancements will be received in industries that rely heavily on payment efficiency and cost management.
For further information, interested parties can visit the ConnexPay website or reach out directly to their head of marketing, Liza Amaro.
