ConnexPay Names VPay’s Ben Peters as CEO

Payments platform ConnexPay has named industry veteran Ben Peters as its new CEO.

Peters, who has spent two decades in the payments and vertical software space, will replace ConnexPay founder Bob Kaufman, who is moving into the role of board chairman, the company announced in a Tuesday (April 2) news release.

“Under Bob’s leadership, ConnexPay has built a unique end-to-end platform to both accept and make payments globally that is transforming payments experiences for our customers and their businesses, while achieving remarkable growth,” Peters said in the release. “I am excited to join ConnexPay and assume the reins from Bob, someone I’ve long admired and am lucky enough to call a friend.”

Before joining ConnexPay, Peters spent six years as chief operating officer for VPay, a digital claim payment processing platform for insurers. He has also served as finance chief for three vertical software firms: electronic bill payments solutions platform ChoicePay, vehicle fleet management services platform Fleet One and IOD, a healthcare IT data platform.

“Ben is a world-class leader, who I have had the pleasure of getting to know over the last 18 months,” said Kaufman. “His proven track record of growing and scaling companies, combined with his deep payments expertise, make Ben an optimal fit for our next chapter.”

Speaking with PYMNTS last month, Kaufman warned against the limiting effects of taking a “one-size-fits-all approach” to payments. He pointed out that the travel sector, which ConnexPay serves, is composed of more than 400 different airlines around the world, each with specific payment needs.

“Large travel providers across the globe want to be able to have a multitude of options for paying suppliers … there are different needs in terms of how those payments should be made,” Kaufman said.

And to provide those options around payments with product-level innovations, companies are turning to payment advances such as virtual cards, the report noted, which have garnered significant traction in the B2B space as a secure, efficient payment solution.

ConnexPay recently launched a new suite of payment capabilities for the travel sector, including a new virtual travel card. As noted here in February, it is designed to help ConnexPay’s travel company clients improve payment acceptance and reduce or eliminate foreign exchange fees.

It’s part of a larger program known as ConnexPay Exclusives, “a suite of payment capabilities designed to optimize payment outcomes, including supplier acceptance, while also lowering the total cost of payments,” the company said in a news release.