This collaboration will integrate PayCompass's payment gateway solution into FinMont's global ecosystem, providing merchants with a reliable payment gateway in the US. FinMont was launched by the founders of the German airline Hahn Air to offer a unique solution for the travel industry that simplifies both B2C and B2B payments. According to the official press release, FinMont's goal is to enable travel merchants to use payments strategically to differentiate themselves from competitors. This integration aims to streamline payment processes, helping decision-makers address inefficiencies.
PayCompass, founded by fintech experts seeking more flexible product offerings, specialises in providing payment products designed for travel agencies. Their solution supports OTAs by accepting payments in multiple currencies, managing risk, and generating virtual cards to facilitate supplier payments and earn revenue.
The FinMont platform connects multiple banks and providers through a single gateway. In essence, the partnership with PayCompass will allow FinMont to incorporate an advanced payment gateway into its ecosystem, offering travel merchants flexible solutions. Furthermore, the collaboration aims to expand the capabilities of FinMont's platform by providing travel merchants access to virtual card-issuing and other payment solutions.
In the company press release, officials from FinMont talked about this new partnership and highlighted its goal to offer virtual card-issuing and other solutions to an international client base. In turn, officials from PayCompass highlighted the capabilities of its solutions to provide merchants with access to payment gateways and flexible, secure and easy-to-use virtual card issuing solution.
In April 2024, FinMont collaborated with Ubank Connect to allow merchants to accept and send payments across emerging markets. The collaboration aimed to enable FinMont to integrate Ubank Connect’s secure payment gateway solution to its overall global ecosystem. This process was set to facilitate and offer merchants and traders the possibility to access an optimised alternative payment processing solution across several emerging markets.
In addition, both FinMont and Ubank Connect focused on meeting the needs, preferences, and demands of customers in an ever-evolving landscape, while also prioritising the process of remaining compliant with the regulatory requirements and laws of local industries.
In March 2024, FinMont partnered with Singapore-based digital currency payment institution Triple-A. Specifically, FinMont entered into this partnership with the aim to integrate digital currency payments into its system. The company offered a distinct solution to merchants in the travel sector, streamlining both business-to-consumer (B2C) and business-to-business (B2B) payments.
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