Paynet has entered into a strategic partnership with Salt Edge, a renowned global leader in open banking services.
This collaboration is aimed at ensuring compliance with Moldova’s Payment Services Directive 2 (PSD2) regulations.
The partnership was forged to facilitate Paynet’s adherence to the stringent PSD2 regulations recently enacted in Moldova. Paynet, a pivotal player in Moldova’s financial sector, is dedicated to revolutionising payments and financial services through digital innovations. Conversely, Salt Edge specialises in open banking, offering comprehensive solutions that assist financial institutions around the globe in meeting regulatory requirements efficiently.
Paynet is at the forefront of Moldova’s FinTech innovations, offering a seamless financial management tool for both individuals and businesses. Its services include the versatile Paynet wallet and the Paynet Mastercard, which simplify daily financial activities such as utility bill payments and money transfers. On the other hand, Salt Edge excels in providing a robust open banking platform that includes features like customer consent management, report generation, and third-party provider support.
This partnership is pivotal for Paynet as it aligns with their mission to digitalise Moldova’s economy and offers them a cost-effective solution to meet regulatory demands without the need to develop in-house capabilities. Salt Edge’s proven expertise in open banking compliance will enhance Paynet’s service offerings, ensuring a more secure and efficient customer experience.
The collaboration between Paynet and Salt Edge is expected to set a benchmark in the region for regulatory compliance and innovation in financial services. Both companies are committed to providing solutions that not only meet current regulatory demands but also anticipate future market needs, thereby promoting a more dynamic financial landscape in Moldova.
“Working together with Salt Edge to implement an open banking solution will elevate our customers’ experiences and reinforce Paynet’s position as a leading FinTech company in Moldova,” Paynet CEO Calin Gryadchenko said.
“We’re thrilled to support Paynet in achieving open banking compliance and meeting Moldova’s rigorous regulatory deadlines efficiently, all while enabling the company to deliver secure, reliable financial services to its customers,” Salt Edge Senior Open Banking Solutions Expert Dan Martalog said.
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