Partnership will allow the online fashion retailer to increase customer conversion at lower cost and satisfy entire payment needs across global markets.
APEXX Global (”APEXX”), the leading global payments platform, is pleased to announce it has agreed a partnership with ASOS, one of the world’s leading online fashion retailers. APEXX has launched as ASOS’ Payments Orchestration Layer across several of its major European markets. By providing this service, APEXX will coordinate and manage the authorisation, processing and optimisation of transactions.
A well-architected Payment Orchestration Layer helps merchants to grow their business by providing a robust, scalable platform that reduces unnecessary costs, optimises acceptance rates, and makes payments simpler and safer to execute.
With more than 60% of ASOS’ sales now generated from international markets, optimising international payments is increasingly important. APEXX helps clients increase cross-border revenues and maximise payments authorisation rates through local processing, as well as reducing costs of acceptance through their intelligent transaction routing engine, ultimately benefitting consumers as well as retailers. APEXX identifies and partners with dozens of local banks to avoid cross-border fees and attract cheaper domestic rates from the different global payment Schemes, like Visa and Mastercard. These local banks also grant APEXX and its customers access to local payment Schemes such as Carte Bancaire in France, China UnionPay, and the Russian Mir Scheme, which further helps to reduce cost and improve consumer acceptance rates.
The partnership will begin with APEXX processing payments, including cards and Alternative Payment Methods, for ASOS customers across several major European markets, before supporting ASOS in more international geographies at a later date. The aim is to deliver a significant uptick in ecommerce acceptance rates and diminution of costs as a result of using APEXX’s strategically placed payment partners.
APEXX’s Co-Founder and Managing Director, Rodney Bain, commented on the partnership: “We are hugely excited to be announcing a strategic partnership with one of the most recognised and forward-thinking eCommerce brands in the world. ASOS’ confidence in us demonstrates the value that the APEXX platform and its best-in-class international payments optimisation capability can bring to online payments. We look forward to rolling out additional projects internationally and domestically with ASOS in the coming months as our partnership evolves.”
Brent Hobson, Head of Payments at ASOS added: “With our growing international footprint, it is increasingly important for ASOS to offer our customers their preferred payment methods and currencies, and for us to optimise our international payments in a way that makes sense for our business. We’re looking forwarding to working with APEXX as a Payment Orchestration Layer in this space, and to building out our partnership in the coming months.”