Paynetics
Paynetics is an electronic money institution that provides payment accounts and money transfers for businesses serving their own customers. Partner companies can integrate the services into an app or platform through technical interfaces. The provider supplies the underlying payment infrastructure so those businesses can add financial functions to their own products.
Paynetics supplies physical and virtual Visa cards and also offers cards on the Mastercard network that partners can issue under their brands. Companies use its embedded payment services to add accounts and transfers without building the full infrastructure themselves. Paynetics performs these payment activities under electronic money permissions as a nonbank provider.
E-money licenses in the EU and UK
Paynetics AD is an e-money institution licensed by the Bulgarian National Bank and passported to provide its services across the EU. Paynetics AD's subsidiary Paynetics UK Ltd holds an e-money license from the FCA for the UK (Paynetics). Paynetics names clients including the broker Trading 212, DNA Payments, Weavr and A1.
Embedded finance on one license
Through APIs and SDKs, a company can open payment accounts with personal European IBANs and UK account numbers, issue virtual and physical Visa and Mastercard cards for Apple Pay and Google Pay and send SEPA, SEPA Instant and Faster Payments transfers. Paynetics also provides open banking services as a payment initiation and account information provider, card acquiring with softPOS, and on- and off-ramps for digital assets. A branded banking app can be in the app stores in 8 weeks, the company says (Paynetics). Embedded finance in Germany covers the same model in the German market.
Paynetics and customers in Germany
The Bulgarian license is passported across the EU, and Paynetics provides the regulatory cover for its partners' products, so a company can serve customers in Germany without an e-money license of its own (Paynetics). E-money license explains the rules for such institutions.
Upcoming payments events in Europe
Payments & Digital Money
Is Paynetics a bank?
No. Paynetics AD and Paynetics UK Ltd are e-money institutions; neither holds a banking license.
Where is Paynetics based?
In Sofia, Bulgaria. Paynetics' UK subsidiary serves the British market.
Accounts and cards
Paynetics and Finance Loop
Finance Loop covers embedded finance, open banking and instant payments in its Payments & Digital Money track. Finance Loop connects fintechs, banks and payment providers through formats that activate professional relationships across cities and countries.
Finance Loop is a European professional network that activates curated expert networks across cities and countries, with Central Europe as the current regional focus. Finance Loop covers emerging technologies in finance through these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.
Partnership Managers in embedded payments can bring questions about bank and platform relationships to Finance Loop. Payment teams can discuss relevant expert-network access through payments partnerships before selecting a suitable format.