22 November 2021
ZNPay Receives PISP and AISP Licenses Prepares to Change the Payments Market
ZNPay a.s., Prague, announces the market’s first Payment Initiation Service Provider, PISP, focusing on merchant services with real-time instant payments and cash management at the Point of Sale. With the grant of a license from the Czech National Bank effective 20th November 2021, ZNPay are prepared to offer innovative and cost-effective payments between consumers and businesses across Europe.
‘We launched ZNPay because we recognized the overwhelming trend toward mobile banking/payment solutions and further anticipated the impact the European Payment Service Directive, PSD2, would bring to the European market,” said Rodney Farmer, co-founder of ZNPay. “Instant Payments are less costly and deliver funds instantly to merchants while providing a secure mobile experience for customers.”
ZNPay is a cloud-native, real-time payment gateway designed to provide simple yet secure retail payments supporting IBAN based SEPA Instant payments. The ZNPay product set includes client authentication, payment initiation and an API gateway to assure a highly secure and fully integrated payment experience.
“Linking a client's unique identity to a loyalty profile and easy digital payment now opens up unique possibilities for traditional and non-traditional payment methods anywhere”, said Miroslav Pekárek, co-founder of ZNPay. “Now more than ever, people and businesses need to be able to rely on the payment network for a seamless experience.”
ZNPay technology combines the benefits of cloud native technology with the highest levels of security, availability, and operational standards.
“We are all too familiar with the inefficiencies of the payment industry which includes high cost, late funding for merchants and fraud losses for both consumers and merchants. ZNPay’s alternative payment method is designed to address these inefficiencies and bring a new experience to consumers in shops and online”, said Radovan Prusa, co-founder of ZNPay.
ZNPay was founded in September 2018 with sole purpose to offer a market standard for Instant Payments directly between bank accounts for retail payments. ZNPay’s application integrates to cash registers, POS devices and e-commerce payment pages with the objective to improve your shopping experience and to deliver more efficient and secure payment solution to merchants and consumers.
The founders are card and payment industry veterans with more than 75 years’ experience in worldwide payment organizations and banks such as Global Payments, Wincor Nixdorf, AEVI, Euronet, Credit Swiss and Raiffeisen.
Rodney Farmer, CEO