FinMont partners with Payplug

FinMont was launched by the founders of German airline, Hahn Air, to provide the travel industry with a solution that simplifies B2C payments, as well as B2B payments. By merging payments into a single view that supports decision-makers identify and resolve inefficiencies in their current payment processes. FinMont’s commitment is to help travel merchants leverage payments as a strategic tool to solidify their position in the market.

As a payment solution for e-merchants and fintechs, Payplug enables its 17,000 customers to benefit from convenient programmes, resulting in 91% of enhanced requests being accepted by all issuers in France, on the Cartes Bancaires network. By partnering with Payplug, FinMont focuses on offering additional payment solutions to European merchants supporting their growth, while also enhancing its payment ecosystem. According to FinMont’s officials, the collaboration with Payplug intends to help the company in solidifying its position and enable its clients to benefit from an accessible solution. As part of its global strategy, the company aims to integrate with banks, payment, fraud, and other providers to offer an advanced solution to the travel industry.

Representatives from Payplug stated that their company plans to allow FinMont’s portfolio clients to access increased performance and acceptance rates on the Cartes Bancaires network, which represents 25% of the total amount of transactions in the Euro area.

In recent months, FinMont entered multiple partnerships and announced several additional capabilities to advance its development strategy. At the end of October 2023, the company incorporated the Web3 infrastructure Camino Network by Chain4Travel. The decentralised travel blockchain allowed FinMont to receive Web3 solutions, such as personalisation through digital wallets and tokenisation, and integrate them into its global payment ecosystem. With this, FinMont intended to transform payments by linking various banks and providers via a single gateway. The company’s objective was to improve the global travel payment system and, via Camino Network, it can provide merchants with enhanced Web3 solutions, including chargeback management and fraud reduction.

Furthermore, in September 2023, FinMont augmented travel payments by leveraging advanced AI solutions to establish optimal payment routes and methods. The company incorporated the advanced AI solution into its payment ecosystem that linked acquiring banks, payment, fraud, forex, and chargeback providers and integrated with ERP/CRM systems and other travel-specific distribution channels.

A month prior, FinMont partnered with ZooPay to continue the expansion of its global payment ecosystem and provide airlines and merchants with an improved automated solution that supported them in managing multi-currency transactions and performing multiple payments. By leveraging its collaboration with ZooPay, the company was set to simplify its solution to manage multi-currency transactions, making it convenient to carry out multiple payments.