28.03.2019. Payment companies are entering the market more and more

Company News

Nowadays because of banks’ restrictions opening a bank account is becoming more challenging and bank commissions are rising, people are using more smart phones and payment systems, that are developing very fast, in Hong Kong called as „technological company for payment services”. Payment company is a legal entity, owning a licence in a country, where the head office is located, that allows to manage client funds by opening accounts, processing payments and issuing Visa or MasterCards.

Payment system advantages:
1) fast account opening – for legal and physical entities (restrictions may apply for countries, where the legal entity is registered), including identification, address confirmation document filing, business description and legal document copy filing.
2) easy to use payment system for receiving and processing payments using smart phone
3) easy and fast debit card booking procedure

1) no guaranteed sum till EUR 100 000 as for all EU banks in situation of insolvency
2) limited payments outside European Union
3) limited payment transactions in other currencies apart from EUR
4) could be restrictions for the maximum amount for payment transaction, monthly limits

We collaborate with following payment systems:

1. Paysera – fast growing Lithuanian company, operates since 2011 and provides money transfers to more than 180 countries in over 30 currencies. Paysera opens accounts for companies registered in the countries with opened Registers. In 2018 their clients have made more than 1,87 million money transfers for total amount of 3,9 billion euros. Paysera’s incomes in 2018 was 9,7 million euros, that is for 2,1 million euros more than in 2017.

2. Fire Financial Services – company from Ireland, that operates since 2010. Fire helps businesses to manage payments with digital accounts and debit cards, in sterling and euro currencies. Fire opens accounts for companies which businesses are related to UK or Ireland.

3. Cardpay – Cyprus company, established in 2009, is a member of MasterCard, Visa and Union Pay International. Cardpay offers online payments, payment cards, and provision of related corporate accounts to manage funds. Cardpay opens accounts for companies related with e-commerce, software development, FinTech or other „Next Big Thing”- like businesses.