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product or a custom-designed service. This approach to
serving our clients is necessary in our marketplace as the
payment requirements of businesses are some mes
unique, and at other mes, unplanned.
Paymentworld Europe Ltd. works mostly with small to
medium sized enterprises in Europe, across several sectors
from established gaming companies to leading marke ng
agencies. The company is selec ve about whom it works
with, in order to ensure it remains compliant with the strict
regula ons rela ng to the Preven on of Money Laundering
and the Financing of Terrorism. This allows the company to
provide its business clients with the necessary peace of
mind that comes with knowing that their payment service
provider (PSP) is not struck with sanc ons, or even with
the suspension of its license as a financial ins tu on.
Unfortunately, when this happens it is not just the PSP that
suffers but also the ins tu ons' clients.
Since Paymentworld Europe has now been opera ng for
several years, the company has built up a product por olio
made up of several solu ons. One of our most sought-a er
services is IBAN4U, a service that provides clients with an
online payment account that comes with a unique
interna onal bank account number (IBAN), that may also
be personalized. The special thing about this service is that
we are able to open an account for our corporate clients
within just a few days, whereas in certain circumstances
tradi onal banks normally take several weeks or months.
The account is similar to a normal bank account in that it
can be accessed 24/7 online. Furthermore, clients can take
advantage of other features such the ability make batch
payments, execute payments around the world, and enjoy
100% deposit protec on.
Another significant service that we offer is the processing
of Single European Payment Area (SEPA) Direct Debit
payments for our clients. SEPA Direct Debit is an
increasingly popular standardized payment method within
the EU and six other European countries. It is ideal for
recurring payments as it is a 'pull payment method', which
means that our clients can directly charge their customers'
bank accounts, provided they have the mandate to do so.
Through this service, our clients benefit from reduced
churn and increased cashflow as a result of receiving
payments faster.
Even though we are a payments company, one of our main
call to ac ons is as follows: 'Unlock new payment
opportuni es to grow your business'. That's because we
believe a company's payment systems are an enabler for its
growth. For example, one of our solu ons is a payment
gateway that makes over 350 payment methods available
to the merchant. By offering a variety of payment methods,
buyers are able to pay using their preferred payment
method and merchants can increase their shopping bag
conversion rates thus resul ng in higher sales.
In order to offer a secure, reliable and efficient service to
our clients, it is necessary for us to con nuously invest in
our infrastructure. Just this year we replaced our previous
core banking system with Oracle Flexcube, a best-in-class
system that is used by leading banks worldwide. With
Oracle Flexcube, Paymentworld will improve its opera onal
efficiency, reduce me to market for upcoming products,
and it will also greatly expand the company's Open Banking
capabili es.
This year, the company has also invested in a new KYC and
customer onboarding so ware that makes the applica on
process for our clients digital and more user-friendly. This is
a significant challenge for many payment service providers
as the customer applica on process can be quite long and
thorough, as it involves filling in informa on and
submi ng documenta on about not just the company but
also its directors, shareholders, and ul mate beneficiary
owners.
Con nually inves ng in the company's technological
infrastructure is necessary to ensure the future growth of
the company. However, it is not enough, and that is why
Paymentworld Europe is also growing its team. With a
headcount of 20 people, the company is opening up
several new posi ons in 2021 in order to keep up with the
client intake whilst con nuously striving to raise standards.
In 2021, Paymentworld Europe will be releasing new
products and entering new markets whilst further
establishing its reputa on as a trustworthy and customer-
focused payments partner.
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year during the ini al phase of the
ongoing pandemic , I believe stock
broking industry players had ac vely
provided most the of the trading &
investment services to their clients
while major team players were doing
work from home. The corporates
currently charge brokerage fees for
their equity trading and other
financial services such as asset
management, mutual funds, wealth
management, top picks, trading and
several other services that can
appeal the consumers. The financial
brokers have now developed their
marke ng ability to assist customers
in mee ng their goals with a wide
suite of products & services
strengthening their rela onships
over the long term associa on with
clients. The increasing use of
internet, smartphones, and mobile
apps has led to evolvement of lower
brokerage fee system and has helped
these brokers to gain momentum in
the market wrt financial brokerage
market growth rate over forecast
period. Addi onally, as per media
sources around 12 lakh new
investors opened demat accounts
with the Depository Services in
March & April alone. Out of these,
approx 6.18 lakh accounts were
opened in March'20 & 6 lakh in
April'20. This marks a significant fillip
when compared to 4.2 million new
demat accounts opened in the prior
11 months between April 2019 and
February 2020. Addi onally a report
by Mint ci ng data from the
Securi es and Exchange Board of
India reported that the number of
new demat accounts opened during
FY2020 stood at 4.9 million, a 22.5
percent increase from the 4 million
demat accounts opened in FY2019.
This, the report noted, was the
highest in at least a decade. While
NSE data show that the internet
trading volumes jumped 53 per cent
in April to an average daily volume of
₹12,602 crore, compared to a daily
average turnover of ₹ 8,261 crore.
Based on the increased compe on
the discount brokers services in form
of lower brokerage charges, the full
service brokers have moved their
strategy for boos ng revenues from
the non-brokerage segment. Asset
management services, por olio
management services, insurance
broking and mutual funds are the
non-brokerage segment are
considered to be full me services
for brokers with focussed objec ves.
Ahead in future,I believe that to
survive in that compe ve market as
a broker one would need to focus
beyond advancing their pla orms
with technological & back end up
grada ons including EKYC, biometric
authen ca on, order management
systems, advanced char ng &
analy cal solu ons etc. Also as a
broker we should further focus on
diversifying product por olios to
Por olio Management Op mum,
Ins tu onal services & third party
products distribu on of Insurance,
Loans, and Mutual Funds etc, to
become a one-stop solu on for all
financial needs. Online trading has
started gaining momentum since the
start of the current decade and is
playing a pivotal role in driving the
retail brokerage market.
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and electronic payment processing on a single pla orm.
Some of its highlights are:
Switching - Refers to the so ware capable of receiving
transac on requests from different interfaces and
obtaining authoriza on for transac on comple on. High
performance, real- me authoriza on switching, issuers,
acquirers, and processors can manage the fast-moving
payments landscape and deliver the best levels of
service to their customers.
ATM Management –Provides fraud preven on and
other management tools for the machines.
Cards&WalletManagement–Supportscredit,debit,and
prepaid cards straight out of the box. It also offers support
for specialist card types like corporate, travel, and campus
cards, as well as virtual cards, e-wallets, and emerging
paymentinstruments.
Merchant Management - Assists merchants and
retailers to manage payment processing and
compliance, while also enabling acquirers to easily
manage merchant rela onships. From setup to asset
management, it delivers a superior level of service to
merchant networks.
E-commerce suite - Provides a secure, state-of-the-art
gateway for internet payment processing. It removes
customer dependence on third par es or chooses
individual components to enhance an exis ng internet
payment pla orm. Fraud Preven on - The solu on uses
a sophis cated rules-based engine to rapidly isolate
suspicious transac ons in real- me, enabling users to
prevent fraud from affec ng relevant customers.
Mobile POS – Combines a Smartphone with a card
reader that helps create a low-cost Point of Sale (POS)
device for seamless customer experience and increased
business efficiency.
Mobile Banking - Delivers improved self-card
management with features such as viewing and transfer
of purse balances, transac on history, PIN change, and
ATM loca on – as customers demand instant access to
their banking services through their mobile devices.
PEXforFuture
For the forthcoming years, PEX is posi oning itself as the
'go-to' fintech company when it comes to the supply of
the latest technology to the financial industry. Whilst
staying at the forefront of emerging technologies, PEX is
equally conscious of the growing compe on as well as
the restrained local market.
Talking about the strength and future perspec ves of
the company, Sailesh quoted, “Our Future lies in the
sustained and efficient development of improved client
solu ons with the help of emerging/ latest technology
and AI. Effec veness of the supplied solu on, security,
and cost stay our strengths and leveraging thereon we
will con nue to expand locally and in the Africa region
and poten ally MENA in the medium to long term.”
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