The capital raised is expected to be invested into the development and deployment of its banking and payment e-wallet platform. It will also enable the fintech to provide a business model combining SaaS, PaaS and BaaS.
Phyre aims to enable enterprises to launch their digital wallet and offer financial services. It allows its users to open a payment account with personal IBAN, order a physical or virtual Mastercard and facilitate contactless payments with their phone anywhere in the world. It also digitalises all loyalty cards and offers a suite of merchant services to its retail partners.
Bulgarian telcos A1 and Vivacom are currently using phyre’s services.
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