Frequently Asked Questions

Welcome to our FAQs page, where we address the most common inquiries to help you find the information you need quickly and efficiently.

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What spend controls can I set on a ConnexPay virtual card?

You can set spending limits, date windows, block specific merchant categories (MCC), and allow or deny individual merchants.

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Business Travel
Embedded Payments
Insurance
Virtual Card Issuing
How will FX and cross border fees be handled when paying overseas suppliers?

When paying suppliers internationally, ConnexPay transparently passes through any FX or cross-border fees incurred, not marking them up for profit. Specific FX handling depends on the card product and currencies involved. For any travel payments, our Global Travel card allows you to pay suppliers in any currency without incurring any cross-border or FX fees.

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Business Travel
Leisure Travel
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Embedded Payments
Virtual Card Issuing
What is the difference between a PayIn and PayOut?

A PayIn is a method of funding the account balance to make payments, whether using customer payments or operating capital. PayOut refers to any method of making a supplier or vendor payment, as well as balance transfers or wires.

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Can I pay in USD without having an entity in the United States?

You do not need an entity in the United States to be able to pay in USD. ConnexPay's solution allows for USD payments regardless of where your business is located.

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Virtual Card Issuing
What currencies can I use to fund my card payments?

ConnexPay supports funding card payments in USD, EUR, GBP, and CAD as our core issuing currencies. The currency used to fund card payments typically needs to match your account's designated accounting currency. For international payments, ConnexPay offers currency conversion services, though fees may apply for conversions.

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Embedded Payments
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Self-Funding
Virtual Card Issuing
Why is being Merchant of Record valuable for my business?

Being Merchant of Record means you're officially responsible for processing customer payments, which provides several benefits: greater control over the payment process, direct relationship with customers, ability to manage chargebacks and disputes, opportunities for enhanced data collection, and potential for increased revenue through card rebates. It also allows for more flexibility in payment options offered to customers.

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Classic Payment Methods
Can I override a transaction authorization?

Yes, ConnexPay offers Client VCC Decisioning functionality that allows clients with proper permissions to override and directly decision authorizations. This feature enables clients to approve or decline authorization requests for our issued cards based on our own criteria.

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What currencies can I make payments in?

ConnexPay supports payments in multiple currencies including USD, EUR, GBP, and CAD for our core issuing currencies. Our Global Travel VCC support payments in over 60 currencies worldwide.

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Leisure Travel
Business Travel
Virtual Card Issuing
What countries do you offer credit card processing in?

ConnexPay offers credit card processing (accepting payments) in the United States, Europe, Canada, and is expanding internationally. Our virtual card issuing capabilities have broader, full international reach.

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What does the onboarding process look like and how long does it take?

Apply online, complete underwriting, then connect to our API or portal. Most customers go live in 2 – 4 weeks, and some in as little as 7 days.

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Embedded Payments
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Virtual Card Issuing
What type of service does ConnexPay offer?

Apply online, complete underwriting, then connect to our API or portal. Most customers go live in 2 – 4 weeks, and some in as little as 7 days.

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Business Travel
Embedded Payments
Insurance
Leisure Travel
Customer Sales Acquiring
Virtual Card Issuing
Self-Funding
Do you offer webhooks for realtime access to data?

Yes, ConnexPay offers webhooks for real-time notifications of important events in the system. These include events related to purchases, sales, funding, and other transaction activities. Webhooks allow clients to receive immediate updates about transaction statuses, card issuance, authorizations, settlements, and more, enabling real-time integration with your systems.

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Embedded Payments
Customer Sales Acquiring
Virtual Card Issuing
How do I get access to ConnexPay's API and SDK?

Access to ConnexPay's API and SDK our public on our website, under the 'Developers' tab. Additionally during the onboarding process, ConnexPay will provide documentation, credentials, and support for integrating with our API and SDK. we offer comprehensive developer resources including API references, implementation guides, and sandbox environments for testing before going live.

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Customer Sales Acquiring
Virtual Card Issuing
Why does ConnexPay require PayOuts (card issuing) in addition to PayIns (acquiring)?

ConnexPay's business model is built around the integration of both acquiring (PayIns) and issuing (PayOuts) to provide a complete payment solution that simplifies cash flow management. While some clients may start with just one service (like issuing-only "Lite" clients), the full value proposition comes from using both services together to benefit from straight-through processing, reduced prefunding requirements, and optimized rebates.

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Self-Funding
How will my rebates be sent?

For most clients, rebates are automatically applied to your account balance. The specific timing and delivery method of rebates may vary based on your agreement with ConnexPay and the funding model you're using (such as Flex Funding).

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Virtual Card Issuing
Payment Delivery
How soon will I get my rebates?

Rebates are typically processed monthly and are included in your monthly invoice or settlement.

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Business Travel
Embedded Payments
Insurance
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Virtual Card Issuing
What options for variable rates are available when issuing PayOuts on virtual card?

ConnexPay offers various rate options including our Flex Card (a variable-rate virtual card with over 30 dynamic rates), or our Global Travel VCC with tiered interchange rates (ranging from 100-200 basis points) for price-sensitive suppliers. For UATP cards, the interchange cost to merchants varies from 165-197 basis points.

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Virtual Card Issuing
What is Intelligent PayOuts and what does it do?

Intelligent PayOuts (IPO) is ConnexPay's patented decisioning engine that systematically determines which cards should be accepted and what virtual cards should be issued to maximize acceptance and rebates. IPO uses the supplier information submitted with card requests to determine the optimal card brand (Visa or Mastercard) and settings for each specific supplier. It's enabled by default for all clients to optimize payment success rates.

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Virtual Card Issuing
What is BIN rotation and how does it work?

BIN rotation is part of ConnexPay's Intelligent PayOuts (IPO) system that automatically selects the optimal BIN (Bank Identification Number) for each transaction based on the merchant being paid. The system analyzes historical acceptance data and supplier information to determine which card brand (Visa or Mastercard) and specific BIN will have the highest likelihood of acceptance and optimal interchange rates.

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Embedded Payments
Virtual Card Issuing
What different card products do you have available to issue?

ConnexPay offers several card products including: single-use Virtual Credit Cards (VCCs), Lodged Cards (can be used multiple times over months/years), exclusive products like our Global Travel VCC (for international payments with no FX Fees), and UATP cards (specialized for airline payments). We also offer different card classes like Commercial Credit, Consumer Credit, and Prepaid Commercial cards.

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Business Travel
Embedded Payments
Insurance
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Virtual Card Issuing
How many BINs can I choose from?

ConnexPay offers over 70 BINs (Bank Identification Numbers) across Visa, Mastercard, and UATP.

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Embedded Payments
Advertising
Virtual Card Issuing
What card brands do you have available to issue PayOuts?

ConnexPay offers Visa, Mastercard, and UATP card brands for issuing virtual cards. Each brand has different acceptance rates and cost structures, and ConnexPay's Intelligent PayOuts feature can help optimize which brand to use for specific merchants.

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Virtual Card Issuing
Why are virtual cards better than traditional credit cards?

Virtual cards are better than traditional credit cards because we offer enhanced security (single-use or limited-use numbers), better control (spend limits, expiration dates, MCC restrictions), simplified reconciliation (with rich transaction data), and reduced fraud risk. we also integrate seamlessly with payment systems and provide detailed reporting.

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Virtual Card Issuing
Are your payments accepted by airlines, hotels, and hospitality brands?

Yes, ConnexPay's virtual cards are widely accepted by airlines, hotels, and hospitality brands. ConnexPay offers specialized payment solutions like Global Travel VCC and UATP cards specifically designed for travel industry payments. UATP cards in particular are accepted by over 400 airlines worldwide.

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Leisure Travel
Business Travel
Virtual Card Issuing
Is there any cost to use ConnexPay virtual cards?

There are no costs to issue ConnexPay's virtual cards.

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Virtual Card Issuing
What is your pricing structure?

ConnexPay offers various pricing models including interchange plus pricing for acquiring transactions and revenue share models for issuing services. The specific pricing depends on your business type, volume, and which services you use. Special programs like Global VCC or UATP cards have specific pricing structures, and features like 3D Secure authentication may have per-transaction fees.

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Business Travel
Embedded Payments
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Customer Sales Acquiring
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What are the requirements to get started?

To get started with ConnexPay, businesses need to complete an application process that includes financial underwriting and KYC (Know Your Customer) verification. Specific requirements include having a legal business entity, a business bank account, and meeting minimum processing volume thresholds. For acquiring payments (PayIns) in Europe, a physical entity in the region associated with the currency is required.

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Advertising
Business Travel
Embedded Payments
Insurance
Leisure Travel
Customer Sales Acquiring
Virtual Card Issuing
How is ConnexPay different from all the other options in the payments space?

ConnexPay is unique in offering an integrated payment solution that combines both acquiring (PayIns) and issuing (PayOuts) in a single platform. This allows for streamlined payment processing where funds from customer payments can be directly used to pay suppliers. ConnexPay's model reduces the need for prefunding accounts and offers enhanced fraud monitoring, direct integration with major card brands, and specialized solutions for industries like travel and advertising.

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Advertising
Business Travel
Embedded Payments
Insurance
Leisure Travel
Customer Sales Acquiring
Virtual Card Issuing
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