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Credorax releases first year results for Wargaming venture as an acquirer

Wednesday 20 April 2016 | 10:12 AM CET

Credorax, a payment technologies company, increased its Wargaming processing volume by 200% over the course of 2015 as well as processing card transactions from 125 countries during the end-of-year holiday season.

Founded in 1998, Wargaming is a massively multiplayer online (MMO) market across PC, console and mobile. In late 2014, the company endeavoured to decrease its global acquirers and minimise fraud and payment card decline losses.

To that end, it partnered Credorax and European payment service provider (PSP) Wirecapital, to provide an integrated online payment solution. Credorax and Wirecapital entered into an international multi-layered agreement with Wargaming at the start of 2015. Credorax was selected to serve as both a European merchant acquiring bank and global payment processor for the online game developer and publisher.

As a European commercial bank licensed by the Malta Financial Services Authority (MFSA), Credorax acted as an acquirer, settling payments for Wargaming in Europe. In addition, Credorax was also tapped as the preferred payment processor for two continents, North America and Asia, where the company secured an 83% approval rate – 6.3% above the industry benchmark – consistently throughout the year.

Credorax’s patented ePower global unified acquiring platform processes payments from all over the world. The company also employs a team of analysts who investigate why cards are declined and advise merchants on steps they must take to optimise their payments. Wargaming has continued its contractual agreement with Credorax and Wirecapital in 2016.

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