PayDo partners with Fidor Bank for online payments across Europe

By Puja Sharma

Paydo, the International online banking platform, announced a collaboration with the leading bank in Germany, Fidor Bank. These companies will improve the payment infrastructure and help popularise online payments across Europe and the world.

The expansion of the network of correspondents allows PayDo business clients to use all the advantages of European banking, optimise the flow of payments, facilitate entry into new sales markets, minimise fraud, and allow customers to use one of the most promising payment instruments.

The collaboration of these organisations will improve the quality and speed of SEPA, SWIFT, and Target2 payments, expand the range of services provided to individuals and corporate clients, and process both traditional card payments and alternative methods.

PayDo is the leading internet banking for individuals and various internet businesses, offering an e-wallet, European IBAN, and merchant account for personal and corporate needs. The company accepts, processes, and sends payments from 170+ countries with 350+ payment methods, including Internet acquiring. PayDo’s innovative non-redirect E-Wallet, architected by Serhii Zakharov, offers improved conversion rates for digital merchants by retaining customers within the checkout flow – addressing the major pain of abandoned transactions.

Fidor Bank, headquartered in Munich, was founded in 2009. It is a digital bank that aims to improve the banking infrastructure and introduce advanced services. The bank also works closely with clients, allowing them to participate in the bank’s decision-making processes actively.

Recently, IBS Intelligence reported that European digital transformations provider Sopra Steria had announced Fidor Solutions’ acquisition via its subsidiary Sopra Banking Software. The company announced its negotiations with Fidor Bank on the 17th of November 2020. Sopra Steria stated that the investment is expected to speed up Sopra Banking Software’s digital solutions by enhancing the user features offered to banks through its Digital Banking Engagement Platform solutions.