Mobile Payments

Payrexx Connects Merchants to All Major Payment Service Providers

by Fintechnews Switzerland October 1, 2015

Thun-based Payrexx is a Swiss fintech startup that provides a cloud-based payment platform that connects merchants to 11 international payment service providers and 15 payments methods, including bitcoin.

Founded in January 2014, it took Payrexx more than a year of development and around one million Swiss francs in funding to finally release its cloud-based payment solution.

The promise behind Payrexx is that you don’t need to have development skills to enable online payments on your website. Plus, you shouldn’t be paying extravagant fees.

Payrexx, a subsidiary of software company Comvation, links all the major payments providers, including PayPal, PostFinance, Stripe, Braintree, Sofort, Giropay, Ingenico, ConCardis, PayMill and Coinbase, and payment methods, such as Visa, MasterCard, American Express and UCB, in one system.

How it works

To use Payrexx, users simply need to follow these four steps:

First, you need to register and choose a name for your own payment website. Something that will look like ‘mywebsite.payrexx.com.’

After you have confirmed your email address, you need to enter into your Payrexx dashboard and select the payment service providers that you’d like to enable. Depending on your location, you will have more or less choices.

Then, you create and design your payment form.

Once the form is ready, you can send it as a link, embedded it in a website, or shared it on popular social media.

Pretty simple, eh?

Multiple payment types are supported, including one-time payments, recurring payments, pre-orders, invoices, requests for payments, donations and booking payments.

As of the costs, Payrexx is free of charge for non-commercial purposes. For merchants, however, Payrexx offers packages starting from 199 CHF per year that offer additional functionalities.

The startup currently serves some 1,000 clients from Switzerland, Germany and Austria. Businesses and organizations that currently use Payrexx include Adidas, Amavita pharmacies, Hotel Card, Hotel Aristella and non-profit organization Kinderkrebshilfe Schweiz.

Payrexx is currently available in 45 different countries and supports 100 currencies, including bitcoin.

While all the major payment methods are already included in Payrexx, the startup seeks to incorporate more new innovative solutions and is constantly looking for new partners, the company said.

Image credit: Credit card, Wikipedia.