US-based paytech ConnexPay adds payments in Canadian Dollars (CAD) to its virtual card issuing offering. Integrating acquiring in Canadian Dollars (CAD) also allows ConnexPay customers to process CAD payments seamlessly.

This expansion also opens up ConnexPay’s services to a new market, serving 38.25 million people and 1.21 million businesses. Notably, the US trades USD 718.4 billion in goods and services with Canada annually, but transactions between the two countries often experience delays and additional fees. ConnexPay’s solution lowers risk, providing faster and more cost-effective methods for businesses with stringent accounting requirements.

Officials from ConnexPay said that the ability to offer payment acceptance in Canadian Dollars brings forth the full benefits of ConnexPay in Canada. By now providing their Canadian clients with lower fees for accepting payments, improved reconciliation, and better customer service, they are offering a valuable solution for their major business transactions. Now, they can access the same next-generation payments systems as their peers south of the border, including real-time access to funds, a robust suite of payment methods, a chargeback management system, integrated fraud prevention and other features, all within a single platform.

ConnexPay already has customers transacting in CAD, such as GlobeSpan Travel Management. The latter’s representatives expressed satisfaction with ConnexPay’s virtual card issuing solution in CAD, stating that they receive and revenue share that they earn from ConnexPay’s virtual card issuing solution in CAD. They look forward to adding ConnexPay’s new CAD merchant acquiring capabilities to their payments flow.

What does ConnexPay do? ConnexPay is one of the first companies to bring together the two sides of the payment process — payments acceptance and virtual payments issuing — into a single platform with one contract and one reconciliation. The flexibility of this technology allows clients to adopt the full end-to-end acquiring and issuing solution or leverage ConnexPay’s innovative intelligent routing issuing-only platform. ConnexPay continues to focus on the travel and tourism space, but the company’s solutions are applicable across a broad spectrum of corporate payment use cases, including insurance and warranty claims, loyalty and rewards payouts, and media and advertising buys.

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