Company Database - ConnectPay

Accelerate the growth of the online economy by providing a one-stop shop platform for online businesses, that eases the burden of launching & operating a business.

Website

www.connectpay.com

Active since

2017

Head office

Vilnius, Lithuania

Country offices in

Lithuania

Geographical coverage (operational area)

EEA

Number of employees

83

Member of industry association and/or initiatives

  • Fintech Hub LT; 

  • Unicorns Lithuania; 

  • Association Investors’ Forum; 

  • Ukrainian–Lithuanian Chamber of Commerce.

Awards

1. Shortlisted as The best platform/marketplace provider at Merchant Payments Ecosystem (MPE) Awards 2023 https://www.merchantpaymentsecosystem.com/history/2023

2. Recognised as The fastest growing fintech company at Global Brand Awards 2022 https://www.globalbrandsmagazine.com/award-winners-2022/

3. Named One of the ten best fintech companies to watch in 2021 by Silicon Review https://thesiliconreview.com/magazine/profile/10-best-fintech-companies-to-watch-2021-listing/

Contact

https://connectpay.com/contact-sales/

sales@connectpay.com

Core solution

The company`s core solutions

With Embedded Finance and built-in compliance powered by ConnectPay, online businesses can integrate financial solutions with both financial and non-financial products and ecosystems and focus on scaling their business. 

Major use cases & Products

Embedded Finance with built-in compliance, digital wallets, IBAN accounts: business, private, segregated, SEPA Instant, cross-border payments, 80+ currencies, physical and virtual VISA cards: corporate, personal, white-label, merchant services, Open Banking, card acquiring. 

Specialisation/Verticals

Digital wallets for loyalty programmes, Embedded Finance for crowdfunding, and BaaS for platforms. 

Competitive advantage

One API – multiple solutions! ConnectPay offers BaaS with built-in compliance, effective cost management, rapid time to market, 24/7 human support, and native technology, empowering clients to focus on their online business.

Target market

Target customers

Platforms, merchants (B2B2B, B2B2C), marketplaces, fintech, SaaS, sports clubs, crowdfunding, neobanks, and alternative financing companies.

Technology

Technologies/tech stack/capabilities

APIs

Partners

Technology partners

Velmie

Bank partners

TransferMate, Banking Circle, Convera

Go-to-market strategy

ConnectPay employs a dynamic go-to-market strategy designed specifically for online businesses, focusing on B2B2B and B2B2C, with proactive engagement through targeted outreach, strategic partnerships, and industry events to increase awareness and connect with potential clients.

Operating model

Category

Challenger EMI & Embedded Finance SaaS

The key layers that the provider is active in

BaaS

Technology

Licence

EMI (Electronic Money Institution) https://www.lb.lt/en/sfi-financial-market-participants/uab-connectpay

Risk mitigation strategies and responsabilities

Compliance and risk management programme

ConnectPay's compliance and risk management programme ensures businesses focus on their core offerings while adhering to regulatory standards and mitigating risks.

Actions taken to reduce or prevent the negative impacts of potential risks

ConnectPay mitigates risks via ISO certifications, risk assessment, incident management, third-party due diligence, employee training, and robust procedures in fraud management, ICT, and business continuity planning.

Business model

Pricing model

Depends on the business case. All prices can be found here: https://connectpay.com/pricing/ 

Revenue streams

Embedded Finance with built-in compliance solution, including payment services (SEPA, cross-border), IBAN accounts, currency exchange, payment cards, merchant services (Open Banking, card acquiring), etc. 

Case studies

Examples

1. https://connectpay.com/customer-stories/bemybond/

Product roadmap

Existing features

Digital wallets/accounts/IBANs, SEPA Instant, 80+ currencies, top-up by Apple Pay & Google Pay, white-label Visa cards, cross-border payments, BaaS with built-in compliance, single set of API integration.

Planned features and releases/future plans

Improve Embedded Finance/Payments capabilities for various Platforms