European Merchant Bank, OpenPayd to offer BaaS API

Tuesday 26 January 2021 10:59 CET | News

European Merchant Bank has partnered with OpenPayd to develop banking as a service API, allowing its merchants and clients to make us of digital banking experiences.

European Merchant Bank (EMBank for short) is a relative newcomer to the fintech industry. Established in Lithuania in late 2018, it’s licensed by the European Central Bank and delivers easy-to-understand banking services. It offers financial products for small- and medium-sized businesses, and as of recently, it started serving private customers as well. 

The bank offers services such as the ability handle local and global payments, take out a credit line, get an investment loan, or open a savings account. It also has a SWIFT membership that enables its clients to send and receive payments globally. It has also partnered with MasterCard.

OpenPayd offers access to banking and payment solutions. Through its web front-end and API connectivity, OpenPayd offers card acquiring, processing, and issuing, SEPA and SWIFT payments, multi-currency virtual IBANs, FX wholesale conversion, and more. Its single API is customisable. The partnership between OpenPayd and European Merchant Bank brought about the new BaaS API.

More: Link

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Keywords: API, Open Banking, digital banking, BaaS, Open Finance, SMEs, Open Data, SWIFT, partnership, product launch
Categories: Banking & Fintech
Countries: Europe
This article is part of category

Banking & Fintech

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