Berlin, Germany & Baar, Switzerland – 18 February 2020
Berlin was home to the Merchants Payment Ecosystem (MPE) 2020 on 18 February, the largest merchant and payment-acquiring event in Europe. It was also the occasion for BPC to launch its paytech, Radar Payments, offering modern white label payment-processing capabilities with a focus on innovation.
As its name suggests, Radar Payments acts as a self-enriching radar which identifies new opportunities, leveraging on compliance and the latest means of payment on behalf of financial institutions, payment service providers (PSPs), fintechs, banks, acquirers and issuers.
Taking a customer-centric approach, Radar Payments is on a mission to fast-forward to the future of payments for financial institutions, empowering them to deliver outstanding payment services to their merchants, which in turn will result in the best possible payment experience for the end customer.
The proliferation of new means of payment and the growing popularity of mobile wallets and wearables is adding complexity to the payment ecosystem. Radar Payments simplifies the entire process of dealing with multiple ecosystem players with its one-stop platform for end-to-end omnichannel payment processing. It covers acquiring, issuing, online and popular alternative payment methods, all from a single platform. Furthermore, the company differentiates itself in co-creating and co-operating with its partners to experiment with new check-out experiences, such as paying in instalments or through third-party financing.
Following the success of ‘bank as a service’ models, Radar Payments is available to its clients in three varieties:
- Payment as a Service (PaaS) – build on it
- Software as a Service (SaaS) – consume it
- Processing as a Service – migrate to it.
The company successfully completed a beta program which confirmed the growth potential of its business. In less than six months, six financial institutions, PSPs and neobanks have been added to its client list, from the UK, Austria, and as far afield as the Philippines and Russia.
Jane Loginova, co-founder and co-CEO, commented: "We are proud to see the immediate market response to our newest company. Radar Payments beautifully blends the best of both worlds – the BPC world, with its 20 years of expertise in payments, and the fintech world – using the latest digital technologies to lower operating costs and drive innovation."
Peter Theunis, co-founder and co-CEO, said: "We thoroughly engaged with financial institutions to define how we could better fulfil their payment needs. Unanimously, their pain points were: scale, costs linked to IT infrastructure and compliance, and the capability to innovate. Radar Payments wants to address those problems, offering the widest reach, full payment acceptance, increasing conversion rates for online and offline payments, while scaling with no compromise. Most importantly, it leaves room for co-innovation, which is an essential component of differentiation in a crowded market."