Monneo announces the launch of a new card acquiring service

By Joy Dumasia

Virtual IBAN and corporate account provider, Monneo announces the launch of its new card acquiring service. The development allows the company to offer a full payment ecosystem to its customers and represents a proper end-to-end solution.

Monneo can now offer online merchants the same flexibility on card processing that it already provides through its leading digital banking service. With the company’s enhanced solution, customers get access to a PCI DSS Level 1 compliant gateway connected to several acquirers across Europe. In turn, online merchants have the freedom to choose where they process their transactions.

The upgraded service has been made possible through new partnership agreements with several major card acquiring banks in Europe. Whereas many alternative systems focus solely on providing either an ‘Open Banking’ or card acquiring service, Monneo’s solution now brings both tasks under one roof.

The new launch forms part of Monneo’s overarching growth plans and will enable the company to continue scaling up operations shortly. To support this rapid progression, Monneo is also delighted to announce the opening of new office space in Sofia.

Lili Metodieva, Managing Director at Monneo, commented: “Today’s announcement has been a long-term goal for Monneo and allows us to continue on our growth journey. By providing a full end-to-end solution, we are now one step closer to facilitating a new payment landscape where innovative ways of thinking and business models can succeed. Alongside the new launch, we’re thrilled to announce the opening of a new office space in Sofia, which will give us greater capacity to support card processing services through multiple acquirers. In recent years, the city has become a veritable FinTech hub, so it stood out as an obvious choice when considering our expansion plans.”

Recently, IBS Intelligence reported that Monneo, a virtual IBAN and corporate account provider, has enlisted cryptocurrency exchange Coinbase to enable invoices in a range of cryptocurrencies. The new service will be available for B2B invoice settlement and is supported by two of Monneo’s partner banks.