Paymentology has partnered with Australia-based fintech Constantinople to advance digital payments innovation across the APAC region.
With this alliance, Constantinople will utilise Paymentology’s global payments platform to offer end-to-end payment experiences such as card issuing, processing, and digital wallet integrations for institutional clients.
BaaS solutions and expansion plans
Constantinople aims to contribute to the BaaS sector in Australia, offering modern software and operations platforms that improve front-end digital banking infrastructure and back-office processes such as onboarding, compliance, fraud monitoring, and risk management. Calling itself the ‘AWS or Shopify of banks’, the company allows its clients, particularly fintechs, regional banks, and tier two and tier three institutions, to outsource the complex aspects of banking operations while focusing on customer experience.
Constantinople’s technology allows banks to operate cheaper and innovate faster. Through the partnership, Paymentology will drive Constantinople’s card issuance and transaction processing across Visa and Mastercard schemes to ensure a secure and scalable payment experience for banks and end-users. Incorporating Constantinople’s core banking integration through 10x, and Google Pay and Apple Pay tokenisation, the alliance will support Australian community banks and emerging fintechs.
Leveraging Paymentology’s multi-cloud, multi-tenant architecture, the fintech can take advantage of improved scalability, global connectivity, real-time data and better decision-making tools to enable faster card issuance, better insights, and a more intelligent platform. With this, the card issuing and payment processing firm aims to bring a human, collaborative approach to every interaction, making sure that its teams understand the nuance of BaaS models and succeed in a highly competitive and regulated market.
Additionally, the alliance reflects Paymentology’s plans to further expand in Australia, a place where card adoption is expected to reach double-digit rates over the next five years due to digitally-savvy consumers and increased mobile and contactless payments adoption. This also applies to Constantinople, as the company aims to scale globally using Paymentology’s global network and reach.
The Australian fintech supports several big clients, including Great Southern Bank, the nation's largest customer-owned bank, and Tyro, a payments provider that focuses on SME solutions. The company aims to offer companies of all sizes access to the same technology as bigger banks, partnering with industry experts to launch new card programmes and offer improved solutions. Paymentology’s goal is to ensure the growth of its clients and partners while expanding into Australia’s fintech and banking ecosystem. The company chose to work with Constantinople as the fintech’s values and team support a vision of modern and automated banking that has the potential to power the next generation of financial institutions.
