Fintech Paysera has announced the integration of German neobank N26 into its payment gateway.
The collaboration means that e-shops, which the company provides payment processing services to, will be able to accept payments via the N26 app, covering almost the whole euro area.
Vytenis Morkūnas, the CEO of Paysera, commented: “Powered by innovation, neobanks often surpass traditional banks by their speed and flexibility, and attract millions of new clients in Europe every year. Responding to the current and future changes in the banking market, we make payment gateway available for e-shops via a growing number of neobanks – at the beginning of the year we integrated Revolut, and now it is time for N26 and other neobanks.”
Neobanks have experienced an exponential growth of engagement within Europe, mirroring the rise of open banking.
The fintech launched the processing of payments via N26 to e-shops in Germany, Austria, Ireland, France, Spain, Italy, the Netherlands, Belgium, Portugal, Finland, Lithuania, Latvia, Estonia, Luxembourg, Slovenia, Greece, Slovakia, and Malta.
According to forecasts, 100 million Europeans will become clients of neobanks in the coming years which means that one in five Europeans will have a neobank app downloaded to their phone and will carry a neobank card.