Cross-border finance provider Finaro has announced a new partnership with online payments enabler Ginger Payments.
The deal will see Finaro provide its suite of acquiring and transaction routing capabilities to its partner.
As a reason for the joint venture both companies pointed to the surge in eCommerce volumes across Europe and the growing demand for end-to-end payment solutions among banks and fintechs.
Joachim de Boer, Chief Operating Officer of Ginger, said: “By combining forces with Finaro, we’ve created a dynamic collaboration, offering a complete one-stop-shop for payment components, covering every APM from Apple Pay to QR code.”
A complete infrastructure of PSP solutions will be offered to merchants who want to enable customer card payments and AMP transactions.
Ginger’s CCO added: “From end to end, Ginger’s cloud-based API strengths and our full-stack eCommerce payment offering give clients the ability to build a new solution, replace their current solution completely, or add innovative new modules to their existing services. We also provide transaction approval optimization, and enhanced data insights to drive future growth.”
Finaro explained that its solution suite will provide Ginger with the ability to offer “payment gateways, AML-compliant onboarding, plugins, merchant omni-channel dashboards, reconciliation and settlement,” and “comprehensive reporting overviews”.
The partnership will first focus on the Nordics region and will target financial institutions and fintechs looking to compete with PSPs.
Achiya Fried, Chief Commercial Officer at Finaro, said: “It’s exciting to see our footprint in the Nordics grow, and we are delighted to be partnering with Ginger on growing even further.
“Finaro’s smart acquiring services, robust gateway platform and exceptional track record in boosting transaction approval rates will elevate Ginger’s presence, enabling them to offer white-labelled transformational PSP services that will open up access to new markets and opportunities for all parties involved.”
Ginger Payments was acquired by software provider Ximedes in June this year, further expanding the width of its services.
Ruben Frimand Nielsen, VP of Sales & Business Development for the Nordics at Finaro, commented: “The partnership between Finaro and Ginger is a market-beating collaboration, offering a ready-made suite of PSP solutions for banks and fintechs that want to offer the full spectrum of payment services to their clients.
“Ximedes’ software development capabilities, Ginger’s SaaS proposition, and Finaro’s acquiring and gateway solutions combine to offer powerful and flexible PSP solutions that help banks and fintechs drive the next wave of merchant growth.”
Ximedes’ Business Development Manager Adil Yahyaouy also made a statement, suggesting that there is a “gap in the market” that the new partnership will aim to address.
He said: “There is a clear gap in the market where banks and fintechs wanting to provide end-to-end payment services to their customers have difficulty accessing the right mix of technical components, easy-to-use APIs, access to APMs, and in-depth personalised support.
“With Finaro’s game-changing technology and its acquiring services, we can now step into that gap and provide everything banks and fintechs need to transform themselves into PSPs.”