ASOS optimises global transactions with new payments platform

International online fashion retailer ASOS is partnering APEXX Global to optimise transactions through its global payments platform.

APEXX will initially provide a payment orchestration layer across several ASOS European markets, coordinating and managing the authorisation, processing and optimisation of transactions.

With more than 60 per cent of UK-headquartered ASOS’ sales now generated from global markets, optimising international payments is increasingly important.

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.

APEXX helps clients increase cross-border revenues and maximise payment authorisation rates through local processing, as well as reducing costs of acceptance through its intelligent transaction routing engine, “ultimately benefiting consumers as well as retailers”, said the vendor.

APEXX partners with dozens of local banks to avoid cross-border fees and attract cheaper domestic rates from 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 costs 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.

Brent Hobson, head of payments at ASOS, said: “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.”

APEXX managing director Rodney Bain said: “We look forward to rolling out additional projects internationally and domestically with ASOS in the coming months as our partnership evolves.”

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