- Credorax, which is based in Israel and offers a range of smart services such as foreign exchange conversion process improvements as well as a highly secure environment, will work alongside Lithuanian web hosting provider Hostinger.
- Hostinger will now be able to take more than 120 currencies, including some from the world’s emerging technology hubs, such as India.
- A senior figure at Credorax said that the company was looking forward to working with its new partner to help advance its presence in the key fintech area of Lithuania.
A provider of payments technology in Israel will strike up a partnership with the Lithuanian web hosting provider Hostinger as part of a new cross-border payments arrangement.
Credorax, which offers ‘smart payments’ technology, said that it will collaborate with Hostinger to allow the latter firm to take cross-border payments.
It will be able to do this in over 120 currencies, and on an efficient basis.
The currencies accepted will include those used in some of the world’s emerging technology hubs, such as India.
Once the partnership is live, Hostinger customers will be able to use Credorax tools such as foreign exchange conversion services.
It will also be able to benefit from round-the-clock account monitoring to check for any irregularities.
The service will be delivered in the context of the 3DSecure solution offered by Credorax.
This, in turn, is compliant with the Strong Consumer Authentication requirement of the PSD2 framework.
Credorax offers this service to a number of web hosts and other firms in the digital services field, including NordVPN.
In a statement, a senior figure at Credorax described the new move as a positive one for the firm given that it will help to boost the firm’s presence in the key fintech market of Lithuania.
Igal Rotem, who is the chief executive officer of Credorax, said that the company was looking forward to taking a whole host of different currencies to help Hostinger provide for its diverse clients.
“We’re excited to partner with web hosting provider, Hostinger, and expand our footprint in Lithuania, a region that continues to grow as a hub for fintech,” he said.
“Using our services, Hostinger will be able to accept and process payments in widely and thinly traded currencies alike – including those from the Asia and Africa regions – allowing them to cater to their entire customer base, confident they can accept the local currencies,” he said.
He said that the two firms will work in tandem to achieve their goals.
“As we build our own presence in the region, we look forward helping Hostinger grow and provide their services globally,” he added.
Credorax is a merchant acquiring bank with a full licence.
It offers a self-created payments gateway technology, called SourceTM.
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