Spaudos centras
Spaudos centras
In Romania, one of the fastest-growing e-commerce markets in the EU, the fintech company Paysera started providing a payment initiation service based on open banking where online payments are made by initiating them from an account with the buyer’s bank. Paysera is among the first providers of this technology in Romania.
Payment initiation from the buyer’s account became available to e-shops when the most popular banks în Romania – Banca Transilvania, BCR, ING Bank, Revolut – granted access to the accounts of clients on the basis of open banking, and Paysera performed the integration of the bank systems.
“Financial technologies based on open banking brought greater competition to Europe. For businesses and private customers, these technologies mean a wider choice and lower prices. Payment initiation is one such financial innovation. It is widely popular across the Baltics where our payment initiation from the buyer’s account is used by almost 10,000 e-shops – where buyers spent EUR 315 million in 2020. According to our data, payments using this method constitute over 70 per cent of the turnover of e-merchants in the Baltics,” says the CEO of Paysera LT, Vytenis Morkūnas.
According to the statistics, last year, Romanian e-shops sold goods and services for EUR 5.6 billion, or 30 per cent more than the previous year – it is one of the hottest e-commerce markets in the EU according to the growth rate.
The Second Payment Services Directive (PSD2) adopted by the EU created the preconditions for payment initiation. The banks were obligated to grant access to fintech companies and other third parties to their data through programming interfaces (of course, user protection is ensured at all times).
Paysera collects online payments for more than 13,000 e-shops, allowing them to accept payments by card, payment initiation from the buyer’s account, and through the so-called Bank Link. Last year, buyers in shops serviced by the fintech company spent EUR 580 million.
About Paysera
Paysera is a fintech company that provides fast, convenient, and affordable financial and related services globally. We offer products ranging from a payment gateway for e-shops to money transfers, currency conversion, payment cards, an event ticketing platform, a parcel locker network (to be launched in 2021), and a top-notch finance management app.
Beginning our journey in 2004 in Vilnius, Lithuania, we are the first licensed e-money institution (EMI) in Lithuania, with 300 people working in 15 different cities worldwide. With over one million app installs and growing, we aim to push the boundaries and become an industry-leading super app that provides financial and lifestyle services across the globe.