Paynetics, a regulated e-money services provider, today announced it has secured Visa Ready certification, which enables partners to build and launch payment solutions that meet Visa’s global standards.
The pandemic has increased consumer demand for easy, efficient, and secure mobile payment solutions, particularly in the UK and Europe where there is an active gig economy. Through its extended collaboration with Visa, a world leader in digital payments, Paynetics is expanding its banking-as-a-service solution to the gig marketplace, enabling traders and temporary workers to gain access to their wages instantly and more easily.
Paynetics enables traditional players to digitise their offer and powers corporates, the public sector and fintechs to meet growing customer expectations and needs. Achieving Visa Ready certifications means that more businesses can take advantage of Paynetics’ modular digital payments platform to design, build, and operate financial products that meet the needs of their customers. Ultimately, the extended partnership will help increase the number of instant payment services across Europe, providing more products that gig workers can rely on for easy and fast access to their wages.
Mike Peplow, CEO at Paynetics UK said: “We are thrilled to be in the company of other innovative fintechs certified by Visa. Businesses and consumers are increasingly demanding better banking solutions and services, and financial institutions need to be equipped with the tools to service these needs. We are a digital first enabler for brands in Europe and being Visa Ready certified will further accelerate our global growth ambitions allowing us to support customers in markets around the world.”
Jill Docherty, Head of Business Development, UK&I at Visa comments: “We’re delighted to be extending our partnership with Paynetics and proud they have achieved Visa Ready certification. Demand for digital payments has grown exponentially as a result of the pandemic. By working with partners like Paynetics, we’re able to provide people with the help they need to participate and take advantage of the digital economy.”