Former PayPal Japan General Manager to Lead Market Operations

Credorax, the smart high-tech acquirer for e-commerce and m-commerce merchants and PSPs, today announced that it has established operations in the Japanese market by appointing Mr. Jonathan Epstein as Country Manager and opening an office in Tokyo. This milestone endeavour follows Credorax’s recent investment from Japan’s Mobile Internet Capital.

Prior to joining Credorax, Mr. Epstein served as General Manager for Paypal Japan. In this role, he was responsible for growing YoY revenue and profit +40% as well as launching PayPal Here, a smartphone-based credit card reader rolled out to thousands of stores across Japan.

Mr. Epstein also held C-level executive positions at NASDAQ Japan, AIG Corporation Japan & Korea and Asurion Japan Corporation. In his new role, Mr. Epstein will be responsible for leading go-to market strategies and day-to-day operations.

“Mobile Internet Capital’s investment combined with Jonathan’s enthusiastic decision to join Credorax, together further demonstrates the intense Japanese market need for high-tech acquiring,” said Benny Nachman, Chief Executive Officer of Credorax. “We are extremely excited to have a Japanese financial industry icon such as Jonathan lead our initiatives in the country. His unique expertise, launching products successfully in the region as well as the ability to support overseas companies to overcome government hurdles, will together prove instrumental in breaking ground in a market which many companies find difficult to enter.”

Credorax is a technology-driven acquirer specifically focused on catering to the acquiring and payment processing needs of e-commerce and m-commerce merchants and PSPs. In Q1 and Q2 of 2013, the company celebrated key milestones including quarter over quarter double-digit revenue growth.

“The key to success in the financial sector and Japan in general, is providing customers with a technology product or service that fills a need that isn’t being met by the traditional players. The flexibility and customisability of the Credorax platform guarantees that we will be able to address merchant concerns that no one else can. We will, of course, respect the market’s unequivocal high-quality expectations,” said Jonathan Epstein, Country Manager for Credorax Japan.

Mr. Epstein continued to say, “Echoing Benny’s thoughts, the recent investment by Mobile Internet Capital (a top tier Japanese VC firm that is backed by NTT Docomo, IRI, and Mizuho bank) makes it clear that Japan’s smart money agrees about the magnitude of the market opportunity and the suitability of the Credorax solution. I personally commit to exceed our Japanese customers’ expectations of flawless execution and impeccable customer service.”

About Credorax
Credorax’s Smart Acquiring solutions are based on its proprietary payment platform, ePower™; a Unified Transaction Processing & Acquiring platform built to optimise the payment and acquiring lifecycle process for multi-channel retail environments. Credorax is the first high-tech company to become a principal member of Visa and MasterCard and a PSD-licensed financial institution in Europe. For more information please visit www.credorax.com or follow on Twitter @credorax.