Paynetics is at the forefront of embedded finance solutions, enabling businesses to integrate payments seamlessly into their products.
With dual regulation in both the EU and the UK, Paynetics is a principal member of The Payments Association in the UK and EU, Mastercard, VISA, UnionPay International, SWIFT, and SEPA.
As a use-case agnostic and deep payment infrastructure provider, Paynetics offers comprehensive embedded finance solutions to B2B and B2B2C customers. These include card acceptance and issuance, payment accounts, and transfers, all delivered through APIs, SDKs, or full-service white labels. Our award-winning technology ensures ease of use while offering sophisticated digital solutions like Apple Pay and Google Pay, based on tokenization.
Anti-money laundering, fraud monitoring, and compliance are integral to our services. At Paynetics, we ensure that products and services designed and operated by our clients meet regulatory requirements and conform to local practices. We are experts in transaction monitoring across all channels and types, with the ability to deploy sophisticated fraud monitoring systems and a continuous investment in the latest technologies to keep account holders’ funds secure.
What was the inspiration behind Paynetics?
The inspiration behind Paynetics came from recognizing the transformative potential at the intersection of digitalization, mobile technology, and the democratization of payments. We believed strongly in simplifying payments and making them a seamless, frictionless experience for end users. Traditionally, payments were seen as complex and the domain of banks, which inspired us to create a platform that simplifies the process.
We started with card issuing and acquiring, gradually expanding to include bank accounts with SEPA and Faster Payments access, open banking, and digital mobile apps. As our product offerings and software sophistication grew, so did our ability to serve a diverse range of partners and end-users – from fintechs and corporations to governments – all seeking next-generation payment solutions.
Who do you admire?
I admire entrepreneurs with vision and the grit to make things happen. There are millions of good ideas that never see the light of day. Execution is hard work, but that is what makes all the difference.
Looking back, is there anything you would have done differently?
I would have partnered with bold investors who subscribed to our vision from the start. While bootstrapping has its advantages, partnering with the right investors could have amplified our impact significantly in the same timeframe. With the right partners by our side, we could have accelerated our growth earlier and achieved even greater success.
What defines your way of doing business?
We are partnership-driven; we win when our partners win. This is the cornerstone of our ethos and culture. We align our interests to ensure we stay together through thick and thin, which is why our churn rate is close to zero.
What advice would you give to someone starting out?
My advice for someone starting out is to prioritise building the right team from the very beginning. Seek out individuals who possess innate talent but also have an insatiable thirst for knowledge and experience. These are the people who will continuously push boundaries and drive innovation within your business.
Next, it’s essential to craft a compelling vision that ignites their passion. Your team needs to feel connected to a larger purpose, something that motivates them to go above and beyond. This vision should be clear, inspiring, and aligned with the core values of your mission.
Once you have the right people and a strong vision, focus on fostering their growth. Provide them with ample opportunities to pursue personal projects, explore innovative ideas, and engage in self-improvement endeavours. Encourage a culture of continuous learning and development, where team members feel supported in their journey to enhance their skills and expand their horizons.
Remember, a great team is the foundation of any successful venture. Investing in your people and nurturing their potential will yield significant returns for your business.
Paul Jones
Harvard alumni and former New York Times journalist. Editor of Business Matters for over 15 years, the UKs largest business magazine. I am also head of Capital Business Media’s automotive division working for clients such as Red Bull Racing, Honda, Aston Martin and Infiniti.
