NB: - The clue to your expertise is of course in the name but where do you sit in the payment chain?

Essentially, we give banks and fintechs the technology, expertise, and experience to issue and process cards for major networks and local switch partners. We enable customers to issue any kind of card - virtual or physical - in single or multi-currency worldwide. Our offering includes everything from simple 'card in a box' programme management with BIN sponsorship all the way through to dedicated cloud instances and everything in between. Through our work, we put cards and payments into the hands of millions of people worldwide - in many cases for the very first time.

How global is Paymentology?

We are the first truly global issuer-processor. Currently, we have clients and on-the-ground teams with regional expertise in 49 countries spread across five continents and 14 time zones. Our 400+ team of in-country experts speak more than 40 languages, so we are able to deliver a level of localised support that few businesses can match. This is just the start; our footprint is rapidly expanding.

On a technical level, we are one of the only processors to offer both shared and dedicated instances. With our dedicated, private Cloud instances, we can support clients in countries anywhere, such as in Saudi Arabia. So, to sum up, we are a truly global company, but one which can meet the highly localised needs of our diverse client base."

Is this reach important to fintechs that may also have global ambitions?

I would say that it is fundamental. When fintechs mature, they often experience a phase of sudden and exponential growth. When that happens, they need issuer-processor partners with the flexibility, reach and scale to support them.

That's where Paymentology stands out from the crowd. We're already integrated with numerous core banking platforms around the world and have some of the most sophisticated and adaptive APIs in the industry. For fintechs (and digitally minded banks) our capability means they can launch programmes faster, rapidly issuing any card to anywhere." 

What would you say is key to success across the globe in a hugely competitive industry?

There are any number of things that factor into global success, but if I had to pick three things, they would be the following. First is proactivity. Successful businesses make things happen - they don't wait for permission to disrupt and lead. Second, they make things easy for their customers. No one wants to work with a difficult business partner. The best companies are customer-first and focus on convenience and exceptional user experiences. Finally, I think diversity is a real strength when working across the globe. When you are trying to reach different types of businesses in different cultures, your workforce needs to reflect the experiences and thinking of these different cultures. Without diversity, global businesses can't anticipate or meet their customers' needs."

Between traditional banks, challenger banks, and high-profile fintechs, whose side are you on?

We're on all their sides, and we want them all to thrive. Paymentology works with traditional banks, digital banks, and high-performing fintechs, and our company itself is made up of both banking and fintech DNA. For this reason, we offer four products - Flex, Sprint, Pro, and Enterprise - that suit any type and scale of business, from modern 'card in a box' with BIN sponsorship and programme management solutions to complete financial processing systems with hardware security modules for enhanced security.  

Islamic Finance has a 1500 year history, but not digitally. Do you have expertise here?

Yes, we do. Paymentology's Mada-certified platform is data-driven. That means we can provide data of richness and speed needed for banks in Saudi Arabia and other Islamic countries to offer Murabaha credit solutions, Shariah-compliant Islamic Finance Products, and instalment plans. In fact, we already partner with established Saudi banks and fintechs to offer such services. Islamic Banking may be 1,500 years old, but it has a strong future in digital and one that we are proud to be working to bring about.

What are the company's views on social responsibility?

We have a fundamental belief that we are in business to help change peoples' lives for the better - whether that's our employees or the people in the communities we serve.

For instance, since 2019 we have supported PEN, a South Africa-based not-for-profit organisation that among other things runs after-school life-skills lessons. PEN used a paper-based reward system in these classes to teach students the value of hard work. One way we have helped is to replace this paper-based system with a digital alternative. Using our platform, we have created a closed-loop

voucher system, meaning that the vouchers can only be used within the after-school scheme. The voucher system  includes sponsored cards and a laptop to run the programme on.

When it comes to our employees, we've created a company culture that fosters career progression and development. We're proud of our success here; many of our senior team started their careers with us and continue to grow as we do.

In terms of our actual business, every time we issue a card to a person for the first time, we are helping to include them in the financial system, and that can have a hugely positive effect on their lives. I know that this aspect of our work is valued by everyone who works here."

Are you a challenger in the area of payments processing or are you the one to be challenged?

That's a tough question, because really we are both. We have over 25-years' experience as a company, so we are well established for a technology company, and we are also very much at the top of what we do. But then again, we're also the company leading the way when it comes to disruption. We were first to develop a Cloud-native processing platform, and we remain keenly focused on innovation.

And let's not forget that in 2021, we were acquired by SaltPay, a European-based global payments business with the same funders that grew Paypal, Square, Stone and Stripe. SaltPay has brought with it significant funding to help us keep growing and improving our delivery. At the same time, we merged with Tutuka to create a new payments and card processing powerhouse, which will help ensure we can continue to shape the industry's future. 

For further information visit Paymentology