Virtual IBAN and corporate account provider, Monneo, has grown its offering through the launch of a new card acquiring service.
As part of the growth, the development enables the company to offer a full payment ecosystem to its customers and represents an efficient end-to-end solution.
Furthermore, it means that Monneo will now be able to offer online merchants the same flexibility on card processing that it already provides through its digital banking service.
Speaking on the development, Lili Metodieva, Managing Director at Monneo, commented: “Today’s announcement has been a long-term goal for Monneo and allows us to continue on our growth journey. By providing a full end-to-end solution, we are now one step closer to facilitating a new payment landscape where innovative ways of thinking and business models can succeed.
“Alongside the new launch, we’re thrilled to announce the opening of a new office space in Sofia, which will give us greater capacity to support card processing services through multiple acquirers. In recent years, the city has become a veritable FinTech hub, so it stood out as an obvious choice when considering our expansion plans.”
With the company’s enhanced solution, customers are able to gain access to a PCI DSS Level One compliant gateway connected to several acquirers across Europe. In turn, online merchants have the freedom to choose the most impactful location as to where they process their transactions.
The new launch forms part of Monneo’s overarching growth plans and will enable the company to continue scaling up operations in the near future. To support this rapid progression, Monneo has also announced the opening of a new office space in Sofia.
The Bulgarian capital is one of Europe’s foremost FinTech hubs, and the company believes that the city will provide an ideal launchpad for its expansion into card acquisitions.