Finaro, a global cross-border payment provider and bank, has forged a partnership with Ginger Payments, a European payment platform, to bolster the platform with acquiring and transaction routing capabilities.
Ginger’s partnership with Finaro will initially focus on the Nordic counties. Firstly, the collaboration targets fintechs looking to launch merchant-aligned services similar to payment service providers (PSPs).
Banks, financial institutions and fintechs could be aiming to provide end-to-end payment solutions to keep up with growing eCommerce volumes. Offering alternative payment methods (APMs) is an important factor in improving customer experiences.
Finaro’s payment solutions look to support Ginger Payments’ platform in delivering high-quality payment services. Payment gateways, AML-compliant onboarding, plugins, merchant omnichannel dashboard, reconciliation and settlement, and comprehensive reporting overviews are set to bolster Ginger’s existing offerings.
Finaro has supported over 5,000 merchants in accepting a variety of APMs. The payment provider boasts a 99.999 per cent uptime availability for its gateway’s uptime availability. The partnership with Ginger follows new commercial relationships with Fergatus, EveryPay, and Payrexx. The cross-border payments company is also set to be acquired by America-based payment services provider, Shift4.
Recently, in June 2022, Ginger was acquired by transactional software company Ximedes. The move added AML-compliant onboarding and reconciliation and settlement to Ginger’s offerings.
Achiya Fried, chief commercial officer at Finaro, spoke on the move.
Fried commented: “It’s exciting to see our footprint in the Nordics grow, and we are delighted to partner with Ginger on growing even further.
“Finaro’s smart acquiring services, robust gateway platform and exceptional track record in boosting transaction approval rates will elevate Ginger’s presence. Finaro services enable them to offer white-labelled transformational PSP services, opening up access to new markets and opportunities for all parties involved.”
Joachim de Boer, chief commercial officer at Ginger, explained the decision to make use of Finaro’s services. He explained: “From end to end, Ginger’s cloud-based API strengths and our full-stack eCommerce payment offering give clients the ability to build a new solution, replace their current solution completely, or add innovative new modules to their existing services.
“We also provide transaction approval optimisation and enhanced data insights to drive future growth. By combining forces with Finaro, we’ve created a dynamic collaboration, offering a complete one-stop-shop for payment components, covering every APM from Apple Pay to QR code.”
Ruben Frimand Nielsen is the vice president of sales and business development for the Nordics at Finaro. Nielsen also explained his views on the partnership.
He added: “The partnership between Finaro and Ginger is a market-beating collaboration. It offers a suite of PSP solutions for banks and fintechs looking to offer more payment services to their clients. Ximedes‘ software development capabilities, Ginger’s SaaS proposition, and Finaro’s acquiring and gateway solutions combine to offer powerful and flexible PSP solutions that help banks and fintechs drive the next wave of merchant growth.”