Paynetics: e-money institution behind fintech accounts and cards
Paynetics is an e-money institution from Sofia with a license from the Bulgarian National Bank that is passported across the EU. Fintechs, brokers and payment firms offer accounts with IBANs, Visa and Mastercard cards and SEPA Instant transfers under their own brand on its license. Paynetics holds no banking license.
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. Its 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. Its 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. Fintechs, banks and payment providers meet at Finance Loop events in Frankfurt and other German cities.
Finance Loop is a professional network and has the goal of driving the adoption of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.