payabl. launches payment accounts

Leading European financial services provider payabl. announced on Tuesday the launch of its innovative payment accounts solution.

This cloud-based, API-first solution is designed to help businesses of all sizes manage their day-to-day payment needs within a single, easy-to-use platform.

The company explained that as companies expand internationally, they often encounter challenges such as high currency conversion costs, foreign exchange risks, and the complexity of managing multiple bank accounts.

According to the announcement, payabl.’s Payment Accounts directly address these issues, enabling businesses to hold, convert, and transact in multiple currencies – including EUR, USD, and GBP – while facilitating seamless cross-border transfers via SEPA, SEPA Instant, and SWIFT.  

Moreover, this solution, developed in-house by payabl.’s tech team in Frankfurt, is set to reduce transaction fees, expedite international payments, and simplify cash flow management. 

The company stated that “as a trusted acquirer with nearly 15 years of industry experience, payabl.’s mission has always been to deliver future-proofed payments solutions and exceptional customer satisfaction”.

It further mentioned that “the introduction of the Payment Accounts is a natural extension of this commitment, offering businesses a streamlined, efficient solution for all their payment needs”.

Commenting about the benefits of the solution, Mariana Vorobeva, Owner of Flower O’Clock, said “Managing our finances used to be a time-consuming process, especially when it came to paying suppliers and keeping track of different accounts.” 

She further explained that “With payabl.’s multi-currency account, especially when coupled with their POS system, we’ve been able to consolidate everything into one platform, making it much easier to manage our cash flow and payments.” 

Vorobeva also highlighted the efficiency of the system, adding that “The fast onboarding and instant settlements mean we can focus more on running our business rather than worrying about payment delays. It’s been a significant improvement for our operations.” 

This launch comes at a time when global trade is on the rise. According to the OECD, global trade in goods and services is forecast to increase by 2.3 per cent this year and 3.3 per cent in 2025 – more than double the growth seen in 2023 – as falling inflation will enable central banks to lower interest rates.  

This expansion, alongside the anticipated reduction in central bank interest rates due to falling inflation, provides an ideal environment for businesses engaged in cross-border commerce. 

 Additionally, as regulatory requirements grow more complex, the digital economy is evolving towards fintech-driven, instant, and wallet-based solutions. 

This evolution, coupled with the European Central Bank’s (ECB) directive that instant payments become the default and Eurosystem’s policy, which allows non-bank payment service providers (PSPs) to access central bank-operated payment systems.  

Together, these changes present an exciting opportunity for fintechs like payabl. to revolutionise the payments landscape. 

Ayse Moudourou, Head of Banking at payabl., said “As an omnichannel financial solutions provider, our objective is to address the diverse needs of our customers comprehensively, and in the fast-paced industries we serve, efficient and responsive payment solutions are essential.” 

She continued further, saying that “With our deep understanding of our customers’ payment flows, we’ve been able to design a product that meets their demands more swiftly and effectively than traditional banking methods.” 

This new product launch, Moudourou explained, “enables us to offer a solution that is not only tailored to their needs but also enhances their ability to operate in a rapidly evolving market.” 

Building on payabl.’s existing suite of services, which includes card acquiring, local payment methods, and POS terminals, the introduction of Payment Accounts reinforces the company’s commitment to providing a comprehensive, future-proof payments solution.  

The launch is a crucial step in payabl.’s journey to becoming the go-to platform for all business payment needs. 

Igor Skachkov, Chief Product Officer at payabl., described the significance of the launch, saying “Launching the Payment Accounts is a key milestone in our mission to create a comprehensive financial platform for businesses with a range of products that complement each other.”  

He added that “We are expanding our product offering to meet the full spectrum of modern business needs, empowering our clients to accept, send, and hold funds efficiently.” 

Skachkov also stressed the importance of adaptability, explaining that “In today’s rapidly evolving global market, businesses require an agile and dependable partner to help them navigate new challenges and drive growth.” 

“Our platform offers EU and UK businesses the ability to manage European payment accounts effortlessly, facilitating everyday transactions both within the EU and globally in various currencies”, he concluded.