Finaro partners Ginger Payments to offer PSP services in the Nordics

As part of this partnership, Finaro will empower the Ginger Payments platform with its suite of acquiring and transaction routing capabilities. The collaboration will initially focus on the Nordic region, targeting financial institutions and fintechs that want to launch merchant-aligned services similar to those of payment service providers (PSPs). 

Finaro and Ginger will provide a complete ecosystem of PSP solutions, allowing merchants to accept card payments as well as APM transactions from customers. Moreover, merchants will be able to leverage a data analytics system to get an in-depth look at customer insights and optimise their payment experiences. 

Thanks to Finaro’s single payment solutions, Ginger Payment’s platform will gain the ability to deliver both bespoke and white-label payment services. These encompass payment gateways, plugins, merchant omnichannel dashboards, AML-compliant onboarding, reconciliation and settlement, and reporting overviews. 

Ginger is an online payment solutions provider since 2014, and it was acquired by Ximedes in June 2022. Following the acquisition, its service portfolio has increased significantly by adding AML-compliant onboarding and state-of-the-art reconciliation and settlement to its offering. 

Ximedes officials highlighted in the company press release that there is currently a gap in the market where banks and fintechs wanting to provide end-to-end payment services to their customers have trouble accessing the right mix of technical components. The partnership between Ginger and Finaro aims to bridge that gap and provide everything banks and fintechs need to transform themselves into PSPs. 

In turn, Finaro officials emphasised that Ximedes' software development capabilities, Ginger's SaaS proposition, and Finaro’s acquiring and gateway solutions can offer powerful and flexible PSP solutions that will help banks and fintechs drive a new wave of merchant growth.

Other Finaro partnerships in 2022

In April 2022, Finaro partnered with Switzerland-based Payrexx to enable acceptance of Samsung Pay. As part of this partnership, Finaro would act as an acquirer for Samsung Pay transactions conducted through Payrexx’s merchants in Switzerland. The partnership was aimed at Swiss merchants who, through Finaro and Payrexx, should be able to have a more global reach, create different services, and have access to personalised support. 

In November 2022,  Finaro has partnered with payment gateway EveryPay to provide a unified SoftPOS card-present payment solution for Greek merchants. From a customer's perspective, this partnership offers some additional payment options, while merchants benefit from simplified and streamlined POS terminal management. Greek merchants are able to leverage this new payment solution to encourage customers to shop in-store in the context of Greece’s tourism industry getting back on track.  

The solution also aims to transform the acceptance capabilities of Greek merchants, who previously have been struggling with complicated POS terminal relationships and have been restricted in their ability to accept transactions from international customers.