Paypugs to Enhance Banking, Payments Services with Verifo Partnership

Paypugs, a payment service provider, announced on Friday that it has partnered with Lithuania-regulated Verifo to further expand banking and payment possibilities.

The partnership will enable the two companies to enhance their services in the international money transfer market.

“It's great to see another fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term company that believes in providing personalized financial services,” said Alexander Zelinsky, Paypugs’ Chairman of Board.

“In the fintech landscape, partnerships are essential. Not only do they make us faster but also better. PayPugs is delighted to have established a relationship with Verifo in order to achieve better, faster, and cheaper financial services in today's competitive markets.”

Licensed Services

Verifo operates with an electronic money institution license and is regulated by the Bank of Lithuania. It offers Banking-as-a-Service (BaaS) and Software-as-a-Service (SaaS Software-as-a-Service (SaaS) Software-as-a-Service (SaaS), is defined as a subscription-based software licensing model that is nested through external servers. Generally accessible through an Internet connection, SaaS requires users to log into the system by using credentials such as a username (or email) and passwords. One of SaaS’s biggest advantage would be that users aren’t required to download software onto their devices but rather only require an Internet connection to gain program access. While many trading platforms Software-as-a-Service (SaaS), is defined as a subscription-based software licensing model that is nested through external servers. Generally accessible through an Internet connection, SaaS requires users to log into the system by using credentials such as a username (or email) and passwords. One of SaaS’s biggest advantage would be that users aren’t required to download software onto their devices but rather only require an Internet connection to gain program access. While many trading platforms Read this Term) options, including EU IBAN provision, card issuance, and SEPA & SWIFT payments procession.

The latest partnership came when Paypugs is focused on taking third-party partners for enhancing its services and also signing up business-to-business (B2B) clients. In November, the company Wallester, a company licensed by the Estonian Financial Supervision Authority and an official Visa Principal Member. Furthermore, it also inked a deal with online trading platform BDSwiss to handle client deposits and withdrawals.

“We’re happy to provide our partner PayPugs with smooth, set-to-use, and, at the same time, easily scalable BaaS solutions to start their own fintech business without struggling with the regulation issues, software development, and resource-intensive operational management,” VERIFO CEO, Mantas Staliūnas.

“Verifo philosophy implies a rapid business deployment under the consulting team's watchful eyes and full-time competent customer support literally one call away, together with strong and accurate attention to compliance and legal procedures.”