As the Buy Now Pay Later (BNPL) market heats up in the US, APEXX Global, the global payments platform, is stepping in to help new and existing payment services providers meet growing demand. the company forecasts to be processing roughly $20billion with some of the biggest eCommerce brands, by the end of 2022.
As a first-of-its-kind platform in the global payments marketplace, APEXX Global accelerates the average time to market by 90 per cent and increases trading volumes by as much as 20 per cent.
APEXX Global has become a staple in European markets, with over 120 integrated partners, and multiple enterprise clients including ASOS, eShopWorld, XE.com, Swoon, AirSeychelles and many more. The payments company currently operates across more than 70 countries saving users an average of 15 per cent on processing costs.
“Payment service providers (PSPs) are struggling with the speed of change and offering their customers the solutions they want in the markets they serve – especially among those in the BNPL industry,” said Rodney Bain, Co-founder and CSO at APEXX Global. “At APEXX Global, we’re confident in our ability to aid the US’s fragmented and rapidly-growing demand for cutting-edge payments solutions through our single-stop platform of leading payments providers.”
Core to this entrance into the US market is the growing popularity of BNPL options and providers. The BNPL industry has modernised flexible payment options, allowing consumers to create instalments on individual transactions and is set to reach $680billion in transaction volume worldwide by 2025. APEXX Global’s payment orchestration platform boasts an integrated BNPL solution with more than 14 BNPL providers. This allows merchants and PSPs to access multiple BNPL providers across more than 40 markets through a single consolidated API.
“The global B2C eCommerce market is set to reach $6.54trillion by 2023, and online shopping is one of the most popular online activities in the nation, but poor checkout experiences means eCommerce businesses risk losing billions in potential revenue at the point of sale due to outdated and cumbersome legacy systems and processes,” continued Bain. “As US consumers continue their adoption of BNPL, APEXX Global’s unique API and orchestration platform are one of the only systems that can handle the coming wave.”