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 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 ) 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.”
