Finaro, the global cross-border payment provider and fully-licensed bank, has today announced a new strategic partnership with MultiPay, the payments company for large merchants, to boost in-store and online payment acceptance for merchants throughout the Nordics and UK.
In a move that looks to simplify the disjointed payments landscape in the Nordic and UK regions, the new partnership will enable Finaro and MultiPay to offer a unified POS solution for merchants. With Finaro acting as the acquirer for MultiPay’s certified terminals, the partnership will allow the two companies to launch a new and market-leading solution to drive in-store acceptance of international and local cards, as well as alternative payment methods including digital wallets. In addition, thanks to its new function as a payment service provider (PSP) with Finaro, MultiPay will be able to process transactions for ecommerce merchants looking for a unified solution.
In recent years, MultiPay has invested in expanding its portfolio of local and alternative payments technologies in the Nordics and UK to ensure that it can accept a variety of online, mobile and in-store payments. Thanks to its new partnership with Finaro, MultiPay will be able to boost in-store and online payment acceptance rates across a wider range of merchant verticals in these regions.
Having already disrupted the industry in the UK and across Europe by selling its own POS gateways, which integrate android solutions at the till, MultiPay will leverage Finaro’s payments and acquiring capabilities, fast onboarding capabilities, robust gateway platform, exceptional track record in boosting transaction approval rates and hyper-focused customer service.
David Maisey, Chief Executive Officer at MultiPay Global Solutions, comments: “Finaro and MultiPay’s partnership is an exciting leap forward for merchants across the Nordics and UK. Our end-to-end payment platform provides everything a retailer needs to accept any payment, via any channel, anywhere. MultiPay is one of the few international PSPs that fully covers merchants’ every need including regional important payment networks and payment methods, such as BankAxept, and increasingly popular alternative payment methods (APMs) like digital wallets and instant payments. Through this new partnership with Finaro, we are able to help merchants of every size across these regions drive growth by enabling quick and seamless transactions, no matter how their customers choose to pay.”
David Maisey adds: “At MultiPay, our heavy emphasis on innovation ensures we always endeavor to be among the first to bring new technologies and possibilities to market enabling merchants to keep pace with the ever-changing demands and requirements of their customers. Finaro is the perfect partner to provide a world-class suite of solutions for both retailers and online merchants throughout the Nordics and UK. Through this partnership we provide merchants with full control over their payments, as well as the freedom and flexibility to ensure they can continually deliver a superior customer experience.”
Achiya Fried, Chief Commercial and Strategy Officer at Finaro, comments: “It’s exciting to see our footprint in the Nordics and UK grow, and we are delighted to be partnering with MultiPay to create a better payments infrastructure for merchants in these markets. The unbeatable combination of Finaro’s payments and acquiring, and MultiPay’s flexible, forward-thinking payment processing options will create an unrivalled solution for retailers and ecommerce merchants who wish to unify their commerce through integrated platforms. With partnerships like this, Finaro is removing complexity for merchants and their customers by making payments brilliantly simple.”
Ruben Frimand Nielsen, Vice President, Sales & Business Development for the Nordics at Finaro, adds: “The partnership between Finaro and MultiPay is a market-beating collaboration, offering a ready-made suite of POS and online solutions for retailers that want to offer the full spectrum of payment options to their customers, backed by Finaro’s acquiring and gateway solutions. Together, we are creating a complete and unified solution to support the development of the Nordic and UK payments landscapes.”
Fully compliant with PCI P2PE & PCI DSS L1, MultiPay’s terminals have been rigorously tested and accredited by all major banks, helping its customers fulfil their ambitions, by supplying payment technology that grows with business needs and supports all payment channels and payment methods.
Another core benefit comes with Finaro’s super-quick onboarding process, a unique capability not offered by any other provider in the market. Provided all documentation is correct, Finaro drastically cuts the time taken for payment facilitators and their sub-merchants to start accepting card payments to between 24 and 48 hours, compared to the standard timeframe of 10-15 weeks.