UK payments fintech Apexx Global hits US market

UK fintech Apexx Global is launching its payment offering in the US, as it looks to tap into the growing heat around the buy now, pay later market.

The fintech operates as a middleman between banks and merchants.

It offers a technology which connects acquirers, gateways, shopping carts, alternative payments methods and buy now, pay later products through a single API.

The fintech says that those clients who use its services can increase payment volumes by as much as 20 per cent.

It estimates that it will be processing around $20bn worth of payments with e-commerce brands by the end of 2022 across the world and has more than 120 clients across Europe including ASOS.

“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 buy now, pay later 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.” 

In the US, shoppers have flocked to buy now, payer later over the last year as online shopping has rocketed amid the pandemic, benefiting fintech companies like Affirm,Klarna, and Square's Afterpay.