Bulgaria-based Paynetics has announced a partnership with tell.money to implement the Confirmation of Payee (CoP) service. This collaboration will enable Paynetics to use tell.money’s CoP service, facilitating the integration of financial services while maintaining compliance with CoP requirements.

In essence, the service aims to streamline the process for Paynetics’ partners, ensuring they can offer financial services with enhanced security and minimal effort. Tell.money provides a straightforward solution for complying with CoP regulations, offering detailed guidelines and testing tools to ensure adherence. The integration enhances fraud detection capabilities, helping to secure transactions and maintain compliance without requiring extensive operational effort.

By adopting tell.money’s CoP service, Paynetics is expected to improve its security and compliance measures, offering its clients a more robust service. Benefits of the CoP integration This partnership between Paynetics and tell.money is designed to ensure compliance while enabling partners to embed financial services with greater ease. The CoP service also strengthens fraud protection measures, providing a more secure environment for transactions.

Paynetics officials commented that this partnership highlights the company’s dedication to innovation and compliance in the financial services sector. They also noted that the collaboration with tell.money will allow Paynetics’ partners to offer embedded financial services while remaining fully compliant with CoP regulations. In turn, representatives from tell.money expressed his enthusiasm for the partnership, emphasising that CoP is a crucial tool for fraud prevention and compliance.

They further brought up its significance in promoting an open ecosystem in financial services and expressed confidence in the long-term collaboration with Paynetics. More information about the two companies Paynetics provides Embedded Finance solutions, offering businesses the ability to integrate payments within their products. It operates under dual regulation in both the EU and the UK and holds memberships with key financial organisations including Mastercard, VISA, and UnionPay.

Paynetics offers a range of services including card issuance, payment accounts, and transfers, delivered via APIs, SDKs, or white-label solutions. As for tell.money, it is an Open Banking SaaS platform that supports account providers in meeting regulatory requirements and offering new open banking tools. The platform's offerings include APIs for dedicated interfaces, Confirmation of Payee services, and financial management tools aimed at enhancing the Open Banking ecosystem.

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