🔠n the United States🇺🇸, they have created a universal application to work with any payment provider

🔠n the United States🇺🇸, they have created a universal application to work with any payment provider

This is a new development from the Synctera platform, specializing in developing applications for the banking and fintech sectors. The SyncteraPay solution is akin to an "app store", allowing companies of varying sizes to accelerate the development and launch of apps for fintech and integrated banking products.

🔣 Can any provider really integrate with SyncteraPay⁉️ — To a large extent, yes. The market is restricted to #USA and Canada🇨🇦. Those interested will need to:

1️⃣Pass an external evaluation of the company's risk management (TPRM). TPRM helps maintain customer compliance and the portfolio of sponsoring banks.

2️⃣ Ensure that the creators of the store verify that payers' reconciliation files can be accepted in Synctera Ledger (the company's official database).

3️⃣ Once the service provider is certified, the sponsoring bank still needs to approve the use of the application. They are pressured by money laundering checks, and naturally, they put pressure on everyone else.

#news