Shoptet partners Salt Edge to enable instant A2A payments

Tuesday 6 June 2023 14:34 CET | News

Czech Republic-based ecommerce solutions provider Shoptet has partnered with SaaS banking platform Salt Edge to facilitate A2A payments and transfers.


The partnership addresses a shift in the payment ecosystem in the Check Republic. As per the press release, research conducted by Shoptet showcases a shift towards the digitalisation of payments. As the study shows, 34% of the respondents opted for A2A transfers as a payment method, 31% chose cash on delivery, 29% opted for cards and 6% cash payments at the POC. Considering the data, A2A payments are expected to reshape the entire market.

By combining efforts with Salt Edge and capitalising on its Open Banking-powered payments, Shoptet caters to the need of over 30,000 e-shops located in the Czech Republic, Slovakia and Hungary that will be able to leverage the Shoptet Pay payment gateway to have access to instant payments. 

To ensure a fast implementation of the payment system, Shoptet will make use of the Payment Initiation solution developed by Salt Edge that enables businesses to integrate with over 2.300 banks all around Europe. As a result, merchants will have access to faster payments whilst doing away with the usual card processing fees.

What is more, from a compliance perspective, Salt Edge is ISO 27001 certified and AISP licensed under PSD2. Its API platform is integrated with over 5,000 institutions from over 50 countries. 

Shoptet, a European provider of e-shop solutions, has partnered financial API platform Salt Edge to facilitate instant cardless account-to-account payments.


The future of A2A payments in Europe

Following the pandemic, there has been a shift in the payment preferences of customers that brought about a surging leaning towards digitalisation. Account-to-account payments have been one of the payment methods that saw a growth in popularity.

To address the shifting dynamics of the market, the European Commission has recently introduced an instant payments proposal that empowers businesses, merchants, and consumers with new opportunities. The new regulation mandates that all institutions providing regular credit transfers must also offer instant payments without any supplementary costs. The new regulation is expected to boost A2A payments for consumers and merchants.

For A2A payments to become a feasible payment method all around Europe, access to the A2A payments infrastructure has to be extended. The main change that has to be made is of a legislative nature. At present, most payments to merchants in Europe are facilitated by Payment Institutions and Electronic Money Institutions. However, they have yet to be included as institutions that also have the capacity to exchange and settle credit transfers today. For this to happen, the Settlement Finality Directive, from 1998, has to be modified.

For more information about Salt Edge, please check out their detailed profile in our dedicated, industry-specific Company Database.

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Keywords: partnership, account-to-account payment, instant payments, payments , merchants, regulation
Categories: Payments & Commerce
Companies: Salt Edge, Shoptet
Countries: Europe
This article is part of category

Payments & Commerce

Salt Edge



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