BKN301 unveils new payment solution ‘301 Retail Account’ in MENA

By Gloria Methri

BKN301 Group, the digital payments and Banking-as-a-Service (BaaS) provider in MENA, has launched an innovative payment solution, 301 Retail Account. The solution is a payment account designed to cater to the needs of traditional banks, FinTech companies, and neobanks.

The new launch is in line with the company’s recently announced strategic vision, which aims to deliver cutting-edge FinTech solutions that positively impact the region’s financial market. With its user-friendly interface, security, convenience, and robust compliance measures, the ‘301 Retail Account’ will further help promote financial inclusion and economic progress in the region.

A recent survey indicated that a growing number of customers in the Middle Eastern region prefer digital payments for online shopping. This paradigm shift towards digital payments can be attributed to its young population and high levels of internet penetration, which sets forth a favourable opportunity for BKN301 to introduce a solution that meets these growing demands.

Stiven Muccioli, Founder and CEO of BKN301, said, “We are excited to introduce our latest advancement, the 301 Retail Account, to the global and Middle Eastern markets. It is designed specifically for the B2B2C sector, offering our partners the requisite tools to succeed in today’s competitive financial landscape.”

The ‘301 Retail Account’ offers an easy and simple onboarding process that incorporates comprehensive KYC and AML protocols, ensuring that business can get started quickly and securely. The account provides and manages – customisable debit cards, personalised spending limits, and euro-based accounts – through an easy-to-use, intuitive dashboard that utilises e-signatures and streamlines financial management.

The ‘301 Retail Account’ can be easily integrated into the current product environment with its flexible integration options, such as white-label solutions for desktop, mobile, and API. This allows partners to maintain their branding while harnessing the power of BKN301’s cutting-edge technology.

Mahesh Paolini-Subramanya, CTO of BKN301, said, “The white-label payment solution offered by the 301 Retail Account serves as a key component of our BKN301 BaaS Orchestrator. It complements our comprehensive Banking-as-a-Service platform, further streamlining the process of managing accounts for our clients through our user-friendly APIs and customisable account options.”