IXOPAY Appoints Brady Harris as CEO

Hi,

IXOPAY, a TokenEx Company has a new CEO. Brady Harris, previously CEO at Dwolla, has been appointed to replace Marc Olesen. Just a few days after joining the company, Brady joined the IXOPAY team at Money 20/20. As would be expected, the team received a large number of questions concerning the merger during the course of the event. You can read more about Brady Harris and a recap of Money 20/20 below.

Payment orchestration continued to be a hot topic at Money 20/20, and was also the subject of a webinar hosted by The Paypers featuring IXOPAY's Adam Vissing and John Noltensmeyer. Adam and John talked about tokenization and payment orchestration, as well as taking questions from the attendees. You can watch the full recording of the webinar on the IXOPAY website.

While a lot has changed at IXOPAY this past few months, some constants remain. We have updated our payment glossary again, this time to cover merchant advice codes.

Happy reading,

Your IXO Team

Highlights

IXOPAY Appoints Brady Harris as CEO

IXOPAY, a TokenEx Company has appointed Brady Harris as CEO to replace Marc Olesen. Brady is rated as a top 3 CEO on Glassdoor and has several decades of experience in fintech, payments and SaaS. Brady's previous positions include CEO of Dwolla and President of Payscape.

Brady's appointment follows the merger between TokenEx and IXOPAY and reflects the combined company's new orientation in a fast-changing market.

Webinar: Exploring Network Tokenization and Payment Orchestration

IXOPAY's John Noltensmeyer (Chief Information Security Officer) and Adam Vissing (SVP Sales and Business Development) joined Mélisande Mual of The Paypers for a webinar titled "Exploring Network Tokenization and Payment Orchestration". John and Adam talked about how technology is shaping the future of digital payments by improving security and driving efficiency.

The full recording of the webinar is available on our website.

Money 20/20 Recap

Money 20/20 Europe was held in Amsterdam from 4-6 June. IXOPAY was represented at the event by a large team, including new CEO Brady Harris, who was interviewed by The Paypers. As one of the biggest industry meet-ups of the year, Money 20/20 was a great opportunity to network and take the pulse of the payments industry.

We asked the IXOPAY team for their impressions of the event. They talked to us about the latest trends, as well as the excitement surrounding the news of IXOPAY's merger with TokenEx.

Glossary: Merchant Advice Codes

Merchant advice codes are codes returned by credit card issuers and payment service providers that provide merchants with information on why a transaction was declined. The merchant advice code also provides information on how to proceed with the transaction, such as retrying the transaction in a certain number of days.

IXOPAY has supported merchant advice codes for some time now, and we posted an article on this subject last September.

Adapters

New

• CMI: The payment acquirer CMI has been a trusted partner of Moroccan merchants since 2004. The CMI adapter supports payments via credit card.

Extensions

• Braintree: Added support for credit card chargebacks and chargeback reversals in disbursements and fee settlements.

For a full list of changes, please see the release notes.

IXOPAY in 60 Seconds

One of the challenges of a multi-acquirer setup is dealing with the different formats and granularity of reconciliation and settlement data provided by payment providers. This information needs to be verified and, once verified, shared with additional systems in the merchant's IT landscape. Needing to manually process and transform this data into a format that is compatible with external systems presents additional overheads for merchants that only grows with the number of payment providers.

IXOPAY consolidates this process within a single platform. Settlement and reconciliation data from payment service providers is collated within the IXOPAY platform, where it can be compared to the transaction data to ensure the two match. Any conflicts - missing transactions, rounding errors or issues with currency conversions - are made visible in IXOPAY and flagged accordingly. Notifications can be sent automatically in the case of conflicts, allowing administrators to step in and either correct the records or mark them for further processing.

IXOPAY can output reports in a unified format that is suitable for import into third-party systems, providing a bridge between the disparate formats used by payment service providers and a merchant's IT systems. A single format can be defined for all payment providers that transforms data on transactions into one suitable for the target system.