Mihails Safro, xpate CEO: The addition of the core banking solution creates new growth opportunities for our merchants

xpate, the rapidly-growing cross-border payments platform, has announced the launch of its disruptive core banking solution, which links merchant and acquirer systems to offer agile, flexible and harmonised payment processing, and crucially helps them to bypass legacy IT platform limitations.

xpate's renowned UX design-led focus, the new core banking solution will help merchants and acquirers to tap into even more cross-border ecommerce opportunities through its easy-to-use integrated platform.

Core banking platforms are an integral cog in the payment ecosystem, conducting mission-critical payment processing functions that enable smooth transaction flows between consumers, merchants and acquirers. However, more and more in-house core banking platforms, many of which were built several years ago, are rapidly becoming outdated, as the underlying technology is obsolete or can no longer be adapted to onboard rising transaction volumes from a fast-growing array of channels, devices and touchpoints.

Upgrading these traditional platforms is prohibitively expensive to do in-house, and while plug-and-play functionality has enabled some flexibility, the intensive data-driven demands and complexities of cross-border ecommerce processing means the continued use of such platforms threatens the efficiency and profitability of merchants and acquirers looking to expand their cross-border ecommerce operations.

The launch of xpateCore banking technology is the best thing you can have in-house, but itt always the answer either, as third-party vendors may lack the flexibility and infrastructure to design solutions attuned to each business

With the value of cross-border payments anticipated to hit $250 trillion by 2027, xpate is designed to be as user-friendly as possible.

The addition of the core banking solution to its platform signifies how xpate is continuing to create new growth opportunities for acquirers and merchants of any size, in any sector with its fresh approach to making complex payments as simple as possible.

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