MoneyFex

MoneyFex improves their card processing rate and receives quick settlements with Worldpay

MoneyFex Ltd. is an innovative money transfer company that specializes in international payment services that allow people living abroad to send money as remittances back to their home countries. These remittances can help support families and directly pay for various services such as hospital charges, utility bills, school fees, accommodations and much more by creating a digital wallet for beneficiaries.

With headquarters in London, MoneyFex provides users with an advanced, technology-driven remittance platform that brings huge savings to their customers.

The need

According to Dr. Louis Anegekuh, founder and CEO of MoneyFex, his requirements for a new payments processor to partner with included dependable and quick settlement times into his organization’s bank account and a high card processing success rate.

Why Worldpay

Regarding one of the driving factors for looking in a very specific direction when evaluating a different payments provider for MoneyFex, Dr. Anegekuh comments, “Worldpay is a recognized and respected global payments brand, so we knew we could trust their products and services.”

Fintech for business improvements

After making the change to Worldpay, Dr. Anegekuh has seen a dramatic increase in the number of successfully processed payments for MoneyFex. “Since our switch to Worldpay, we are now processing nearly 10% more transactions daily,” he says.

Payments analytics

MoneyFex also leverages Worldpay’s Pazien payments analytics platform to automatically gather all processor, acquirer and gateway reports and break data down into actionable insights. With Pazien, businesses like MoneyFex can optimize authorizations, reduce the impact of chargebacks, reconcile payments effortlessly and identify trends.

First-rate support

Dr. Anegekuh also mentions how very pleased he is with the attention and care that his business receives. "We enjoy great support and fast responses from the entire Worldpay team. Our day-to-day Worldpay relationship manager, in particular, is always exceptionally helpful.”

On the horizon

In terms of what’s next for the MoneyFex/Worldpay relationship, Dr. Anegekuh has this to say: “With the positive feedback we are getting from our customers – and the increase in our successful card processing rate – we are now working to expand the use of Worldpay to our operations in the United States.”

At a glance

Objective

Find a new payments partner that offers quick settlement, a high card processing success rate and excellent customer service.

Worldpay solutions

SMB Payments Capabilities; Pazien

Impact

After changing to Worldpay, MoneyFex now has the peace of mind of knowing they have a dependable payments system in place – backed by innovative technology and a helpful, responsive team.

• Faster settlement times
• Processing nearly 10% more transactions daily

"We enjoy great support and fast responses from the entire Worldpay team."

Dr. Louis Anegekuh, Founder & CEO, MoneyFex

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