Nordic and UK-based payment platform, OneMoneyWay, and Shift4, an innovator in integrated payments and commerce technology, have partnered to offer small and medium-sized enterprise (SME) customers throughout Europe and the UK a consolidated business banking and payments solution.
In order to grow its main product offering and become a Payment Service Provider (PSP) capable of offering acquiring services to both new and current clients, OneMoneyWay will take advantage of Shift4’s best-in-class acquiring services and payments infrastructure.
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SMEs, which make up 99% of all firms in these regions, are the foundation of the economy of both Europe and the United Kingdom.
Neo-banks and bank challengers, such as OneMoneyWay, provide more creative, cost-effective, and easily accessible digital business banking and financial management solutions specifically designed for the SME sector, in contrast to traditional banking institutions that have historically allowed SMEs to fall between the cracks.
Moreover, through this partnership, OneMoneyWay will be able to offer its clients more SME financial services, such as bank accounts, corporate expense cards, Point of Sale (POS) terminals, and currency exchange services, in addition to payment and acquisition capabilities.
Shift4 is OneMoneyWay’s exclusive acquiring partner. Its scalable solutions, extensive worldwide ecosystem partner network, and flexible acquiring services are supporting OneMoneyWay in its endeavour to change conventional banking pricing structures.
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By GlobalDataBy reducing their dependency on several PSPs and financial service providers, merchants can save money and have access to a more convenient, economical, and efficient way to handle their company’s finances due to this cooperation.
Furthermore, the collaboration allows businesses operating in several locations to accept payments in the selected currency, as OneMoneyWay is capable of acting as a Payment Service Provider and offering same-day settlements into merchant accounts in the local or preferred currency.
In order to improve financial management’s efficiency and adaptability throughout Europe and the UK, Shift4 and OneMoneyWay have joined forces to simplify and streamline financial operations for companies.
Oliver Bentzen, CEO of OneMoneyWay stated: “Partnering with Shift4 enables us to offer merchants the benefit of a truly end-to-end payments experience, underscoring our dedication to innovative banking excellence. Such solutions are still scarce in Europe, especially in the Nordic regions. We look forward to enabling simplified financial operations and management for businesses in the region, and ultimately driving down their costs through consolidated banking and payment services.”
Ruben Nielsen, VP of Sales & business development at Shift4 Europe added: “We are proud to partner with OneMoneyWay to meet the diverse needs of SME customers across Europe. For Shift4, this agreement not only serves as a seal of approval in a competitive market but also enables us to further solidify our European market presence. Through this partnership, we are bringing enhanced value to a rapidly growing group of merchants across Europe. We look forward to working with OneMoneyWay to provide SMEs competitive rates and greater access to quality business solutions that were previously unavailable to them.”
