How we address the new
opportunities open for large corporates
The last five years have brought tremendous change to the world of banking and the financial sector in general. Consumers are empowered, requesting superior and easy user experiences (UX). The paradigm shift in consumer behaviour has made experiences valued much more than traditional banking relationships. Technological changes have opened new possibilities for non-financial companies with strong products to enhance their offering and become a provider of financial services to their customers.
To take advantage of the technological changes and build upon the existing client base with additional products, the non-financial corporate players would have to overcome several challenges:
- Very complicated regulatory framework with increasing AML and compliance requirements.
- Lack of the required expertise to deliver a proper digital experience to the consumers.
- No experience in financial products and no will to develop one.
Paynetics helps non-financial corporates to provide their existing clients with additional payment services, which meet the expectations of the consumers in the new digital banking age:
One stop shop – Paynetics will design, build, launch and operate financial products at speed and scale for our corporate partners to focus on their core business, which is our vision as a business.
Regulatory cover – as an e-money institution passported across the EU, we can power payment and lending products across borders without country-by-country licensing. This allows our partners with a Pan-European strategy to expand and scale up faster. Our partners can quickly start with a POC, test the adoption and performance and quickly scale up after.
Most complete product suite – we offer one of the widest ranges of payment products in Europe. Dealing with one provider makes it much easier for corporates to launch a Minimum Viable Product (MVP) quickly and then easily scale up and add additional products as the concept takes off.
- White label digital payment app – our digital solution provides flexibility and an automatic choice of a Mastercard and Visa with built-in enhanced security features and all the functionalities of a bank debit card. Driven by the continual rise of digital payments, our digital banking proposition is mobile-first, incorporating the latest in UX, User Interface and tokenisation technology. It offers dynamic branding and the possibility to switch on and off various features. As such, it:
- Is perfect to be used for a quick proof of concept;
- Shortens the time to market;
- Reduces the upfront costs;
- Allows for quick pivoting.
- Well defined pay-out products – we offer a pay outs product specifically designed to support corporates. Payments such as expenses, salaries, bonuses, benefits and compensation can quickly be made in a secure and fully regulated environment. Funds can be defined as owned by the public sector entity (e.g. expenses) or owned by the cardholder (e.g. benefits, compensation, salary).
- Product innovation – An end-to-end digital process to add cards from your mobile apps in ApplePay and Google Pay. This solution is a game changer, delivering significant cost, effort and maintenance efficiencies. We can support your tokenisation with our SDK or we can provide the necessary.
- Superior UX – An award-winning mobile app, with the latest payment tokenisation, for a fast checkout experience. Access and manage funds with the intuitive mobile application, move money instantly with Faster Payments, SEPA and P2P Transfers.
- Security – Banking-grade security coupled with sophisticated fraud prevention through tokenisation.
- Transparency and control – We offer an easy way to manage your programs through our Card Portal – set up the program, load cards, monitor card usage and manage all cards all in one place with 100% visibility, control, monitoring and reporting.
DPD (Bulgarian subsidiary) was handling many cash collections for e-commerce purchases (“cash on delivery”). This created logistical problems, adding extra costs to the process.
Paynetics offered account management services to automate paying individual merchants through its APIs.
A leading telecom needed a one-stop solution to offer comprehensive financial services to its clients.
Paynetics paired its network memberships and wide product range, enabling A1 to launch its wallet within three months from signing.