Ixaris

Ixaris is a payments optimization company that provides virtual Visa and Mastercard cards to help businesses streamline their payment processes. Founded in 2002 by Alex Mifsud, the company established itself as a key player in the business-to-business (B2B) payments sector, particularly within the travel industry. Mifsud, a computer scientist with a PhD from the University of Edinburgh, founded Ixaris after working as a consultant and identifying a need for more innovative financial systems.

A significant milestone for the company was the introduction of Europe's first virtual prepaid card in 2003, which transformed payment methods in sectors like travel. The company's technology is designed to help clients, such as airlines and online travel agents (OTAs), reduce surcharges, earn rebates, manage foreign exchange fees, and simplify reconciliation. It operates by enabling businesses to generate their own virtual cards and monitor expenses, serving over 200 customers across more than 40 countries. Since its inception, Ixaris has processed billions in payment volume.

In September 2021, the Singapore-based global payments platform Nium completed its acquisition of Ixaris. This strategic move integrated Ixaris's virtual card issuance capabilities with Nium's extensive payment infrastructure, which includes pay-ins, pay-outs, and embedded foreign exchange services. Following the acquisition, the entire Ixaris team, with offices in London and Malta, became part of Nium, which continues to leverage the technology to serve the travel, media, marketing, and insurance industries. The combined entity aims to replace outdated payment systems with a modern solution.

Keywords: payment optimization, virtual cards, B2B payments, travel payments, fintech, virtual Mastercard, virtual Visa, payment technology, outbound payments, expense management, airline payments, online travel agents, Nium, Alex Mifsud, payments platform, financial technology, reconciliation, rebates, foreign exchange, payment processing