In a move that looks to simplify the disjointed payments landscape in the Nordic and UK regions, the new partnership will enable Finaro and MultiPay to offer a unified POS solution for merchants.
With Finaro acting as the acquirer for MultiPay’s certified terminals, the partnership will allow the two companies to launch a new solution to drive in-store acceptance of international and local cards, as well as alternative payment methods including digital wallets.
In addition, thanks to its new function as a payment service provider (PSP) with Finaro, MultiPay will be able to process transactions for ecommerce merchants looking for a unified solution.
In recent years, MultiPay has invested in expanding its portfolio of local and alternative payments technologies in the Nordics and UK to ensure that it can accept a variety of online, mobile, and in-store payments. Thanks to its new partnership with Finaro, MultiPay will be able to boost in-store and online payment acceptance rates across a wider range of merchant verticals in these regions.
Having already disrupted the industry in the UK and across Europe by selling its own POS gateways, which integrate android solutions at the till, MultiPay will leverage Finaro’s payments and acquiring capabilities, fast onboarding capabilities, robust gateway platform, track record in boosting transaction approval rates, and customer-focused service.
Officials from MultiPay said that the partnership is a leap forward for merchants across the Nordics and UK. Their end-to-end payment platform enables retailers to accept any payment, via any channel, anywhere. MultiPay is an international PSPs that fully covers merchants’ every need, including regional important payment networks and payment methods, such as BankAxept, and alternative payment methods (APMs) like digital wallets and instant payments. Through this collaboration with Finaro, they can help merchants of every size across these regions drive growth by enabling quick and seamless transactions, no matter how their customers choose to pay.
Also commenting on the partnership, Finaro’s officials said that it’s exciting to see their footprint in the Nordics and UK grow, and together with MultiPay they are creating a better payments infrastructure for merchants in these markets. The combination of Finaro’s payments and acquiring and MultiPay’s payment processing options will create a solution for retailers and ecommerce merchants who wish to unify their commerce through integrated platforms. With partnerships like this, Finaro is removing complexity for merchants and their customers by making payments more simple.
Fully compliant with PCI P2PE & PCI DSS L1, MultiPay’s terminals have been rigorously tested and accredited by all major banks, helping its customers fulfil their ambitions, by supplying payment technology that grows with business needs and supports all payment channels and payment methods.
Another core benefit comes with Finaro’s quick onboarding process, a unique capability not offered by any other provider in the market. Provided all documentation is correct, Finaro cuts the time taken for payment facilitators and their sub-merchants to start accepting card payments to between 24 and 48 hours, compared to the standard timeframe of 10-15 weeks, as per the press release.
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