Shape Technologies has launched a payments-platform-as-a-service (PPaaS) offering, providing fully customisable solutions to payment service providers (PSPs) worldwide.
The technology provider aims to expedite time-to-market for payments businesses by introducing its first six modules as part of the PPaaS platform.
This solution caters to various PSPs, including acquirers, payment facilitators, and payment gateways, offering white-labeling options at a fraction of the cost typically associated with self-built platforms.
The modular architecture of Shape’s platform allows licencees to select and combine different products, creating an end-to-end service infrastructure for transaction initiation and fund settlement. Moreover, the platform tackles the challenge of manual backend processes faced by many PSPs, providing automation throughout merchant onboarding, global compliance verification, fund orchestration, reporting, and billing.
Shape Technologies focuses on empowering PSPs to maintain control over their branding consistency while using white-label products. Instead of offering a white-label version of their own PSP product, Shape has developed a technology-first, purpose-built PPaaS solution. This approach ensures deep customisation capabilities and offers a versatile platform that can be adapted to different use cases.
Jack Mangnall, co-founder of Shape Technologies, highlights the challenges faced by payments businesses burdened by extensive technology builds.
“We’ve seen so many payments businesses stall under the burden of heavy technology builds and so lose ground on their competition, and now Shape’s solution can put an end to that,” claimed Mangnall. “Be it for a new-to-market launch or the re-platforming of an existing market player, Shape offers an out-of-the-box PPaaS solution, but with truly in-depth customisation capabilities that replicate the style variances normally only found in in-house builds. I’m excited to see how organisations around the world will put our payments-platform-as-a-service to great use.”
Shape Technologies currently offers six modules: Onboarding, Verify, Data, Payments, Analytics, and Billing. As the company expands, it plans to enhance its offering by collaborating with third-party providers, further enriching the selection of pre-integrated services available to licencees.