Discussing on the true benefits of a long-lasting partnership with Silverflow, Ruben elaborates on certain cases where the latter helped them providing the necessary expertise and infrastructure to solve time-sensivite matters. Below you can find some of the questions we asked xpate:
xpate has been around for a bit, but two years ago we had a new start trying to bring forward an exciting way of proposing acquiring services to our customers, where we really wanted to bring together the comfort of banking and payment facilities as close as possible to the way people make money an ecommerce business, which is acquiring We started building a platform, building a product, and a company around it.
To answer this question properly means going back to what the customer’s experience should be. What are the challenges they are facing?
Being able to help them have their customers pay them when they’re on the website is the part that has been done before, and there are plenty of players in this area, so there isn’t much room to innovate or differentiate one from another.
However, the interesting question arises once the sale has occurred. How does the money flow from there? How complex or how simple can we make this process? How intuitive can we make it? How easy the money becomes to use if I need to transfer it three times to different accounts before I can really start using it? There are hurdles in the process that should not be there. Whatever the complexity behind any financial transaction, whether we’re talking about banking or card schemes – should not matter to those using it. They should not be confronted with the complexities or oddities arising from that transaction, and this is what we have been doing at xpate.
How quickly can you have the money? How transparently can you have it and what are the hurdles that still need to be removed from the process before our customers can access that money in a way that suits their business? Do you need to exchange money into another currency because you have suppliers in a different country that expect payments in a different currency? We should be able to help you with that. Moreover, if you plan on starting a payment on a completely different route or send money through SWIFT, for instance, we can help you with that. The key differentiator of xpate is that the distance between receiving, selling, making money, and spending should be compressed to almost zero.
Silverflow has taken a position which is similar to the one of a utility. For instance, I need an acquirer to access Visa or Mastercard, and the way to do it is through third parties like Silverflow, one of the many facilitators in that landscape. However, Silverflow offers more and differentiates itself from its competitors. It starts with their product which, in the end, makes transactions flow and the only part we should see of it, in theory, is an API. And if that API is transparent, then it works the way it is intended.
Currently, our partnership evolves at the pace of our business. We now have a solid base of customers in the UK, and we are looking to expand our products towards different types of customers. Moreover, we have extended our licences with Visa and Mastercard, so we will be able to serve more customers.
In the UK, Silverflow will help us with new customer segments. We have also activated our connections for the EU and landed an EU licence, which means we are now starting to support customers in this region.
The most exciting news is that our customers want more. They want different ways to support their own customers with different ways of paying. Again, Silverflow is here for us every step of the process and offer their support.
Keen on finding out more? Watch the full interview below:
During his ten years in fintech, Ruben has married product innovation with modern technology delivery. His path in fintech started creating a new standard in lending, supporting a digital client journey with a deeply re-engineered underwriting and pay-out process for business loans up to EUR 1 million. The proposition now serves as a benchmark across the lending industry in the Netherlands. For the past two years, Ruben has been with xpate, building a feature-rich platform for ecommerce clients, enabling them in their sales, as well as supporting them with their daily payments needs, in a simple unified environment.
xpate is a payment service provider designed for fintechs and digital SMEs, simplifying how businesses pay, get paid, and keep money flowing. By integrating card payments, FX, and banking services into a single platform, xpate offers modern businesses seamless access to essential financial tools. With deep payment expertise and innovative technology, we help our clients unlock liquidity, accelerate growth, and reduce financial risks, empowering them to thrive in a digital-first world.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now