Swiss Fintech Klarpay Ends 2023 with “Substanial Profit”

Klarpay AG, a deposit-taking institution licensed by the Swiss Financial Market Supervisory Authority (FINMA), announced on Tuesday that it had achieved a surplus in its first year of market operation.

The company did not disclose specific figures, but did reveal that the timing of the first turnaround was reached six months after the start of market activity. Fintech companies in Switzerland were able to maintain their profitability indicators until the end of 2022, ending with a “significant annual profit”.

“We are thrilled to have reached this important milestone. Our focus on a sustainable business model sets us apart from many of our global peers. Fintech

Fintech

Financial technology (fintech) is defined as technology intended to automate and enhance the delivery and application of financial services. The origin of the term fintech can be traced back to his 1990s, when it was mainly used as a backend system technology for a well-known financial institution. But since then, interest in consumer services has increased and grown outside of business sectors.What purpose does fintech serve?

Financial technology (fintech) is defined as technology intended to automate and enhance the delivery and application of financial services. The origin of the term fintech can be traced back to his 1990s, when it was mainly used as a backend system technology for a well-known financial institution. But since then, interest in consumer services has increased and grown outside of business sectors.What purpose does fintech serve?
read this term

An industry struggling to achieve profitability, especially early in the company lifecycle. We are excited to build on this success next year,” commented Martynas Bieliauskas, his CEO and co-founder of Klarpay.

Klarpay plans to focus on its organic operating model and product efficiency in 2023. The company’s proprietary software is committed to providing innovative solutions that fill market gaps and meet evolving customer and partner needs. 13 new foreign currency accounts.

Tough times for fintech companies

Klarpay’s profitability achieved in its first year of operation is an interesting topic as we come at a time when the fintech industry cannot count on investor goodwill and easy macroeconomic conditions.

According to CB Insights’ 2022 State of Fintech Report, funding for fintech companies will drop by almost 50% in 2022 to $75.2 billion. Last quarter, the industry performed its worst since 2018, with less than $11 billion in external funding. In contrast, the total number of closed deals did not drop significantly, dropping 8% to just 5,048.

Fintech funding fell across all industries in 2022.

Funding for Klarna’s payments division was down 49% to $20.8 billion from a reported $40.5 billion a year ago. By contrast, the banking industry was hit hardest, with funds down 63% to his $9.4 billion.

Check out the recent FMLS22 panel on Developing Female Leadership in Fintech.

Swiss Fintech Klarpay Becomes Member of Visa Network

In July 2022, the deposit-taking company announced that it has become a principal member of the Visa Network. Businesses that become Principal Members can take advantage of features such as card issuance, cash payments, merchant acquisition, and payment risk retention.

“Direct membership in the Visa network provides Klarpay’s merchant clients with a fast, simple, and integrated way to manage their funds and conduct day-to-day cross-border transactions,” Klarpay said in a statement. I’m explaining.

Klarpay has announced that it has strengthened its Level 1 Payment Card Industry Data Security Standard (PCI DSS) certification with the addition of Visa Principal Membership.To maintain a secure environment for credit card information, PCI DSS has implemented a series of compliance

compliance

Compliance in finance, banking, investment, and insurance refers to following rules or orders set by governmental regulators in the provision of services or processing of transactions. Financial compliance is also the state of following established guidelines or specifications. This designation also includes efforts to ensure that the organization complies with both industry regulations and government laws.Understanding Compliance What is Compliance

Compliance in finance, banking, investment, and insurance refers to following rules or orders set by governmental regulators in the provision of services or processing of transactions. Financial compliance is also the state of following established guidelines or specifications. This designation also includes efforts to ensure that the organization complies with both industry regulations and government laws.Understanding Compliance What is Compliance
read this term standards for all companies involved in the processing, storage or transmission of such data.

Klarpay AG, a deposit-taking institution licensed by the Swiss Financial Market Supervisory Authority (FINMA), announced on Tuesday that it had achieved a surplus in its first year of market operation.

The company did not disclose specific figures, but did reveal that the timing of the first turnaround was reached six months after the start of market activity. Fintech companies in Switzerland were able to maintain their profitability indicators until the end of 2022, ending with a “significant annual profit”.

“We are thrilled to have reached this important milestone. Our focus on a sustainable business model sets us apart from many of our global peers. Fintech

Fintech

Financial technology (fintech) is defined as technology intended to automate and enhance the delivery and application of financial services. The origin of the term fintech can be traced back to his 1990s, when it was mainly used as a backend system technology for a well-known financial institution. But since then, interest in consumer services has increased and grown outside of business sectors.What purpose does fintech serve?

Financial technology (fintech) is defined as technology intended to automate and enhance the delivery and application of financial services. The origin of the term fintech can be traced back to his 1990s, when it was mainly used as a backend system technology for a well-known financial institution. But since then, interest in consumer services has increased and grown outside of business sectors.What purpose does fintech serve?
read this term

An industry struggling to achieve profitability, especially early in the company lifecycle. We are excited to build on this success next year,” commented Martynas Bieliauskas, his CEO and co-founder of Klarpay.

Klarpay plans to focus on its organic operating model and product efficiency in 2023. The company’s proprietary software is committed to providing innovative solutions that fill market gaps and meet evolving customer and partner needs. 13 new foreign currency accounts.

Tough times for fintech companies

Klarpay’s profitability achieved in its first year of operation is an interesting topic as we come at a time when the fintech industry cannot count on investor goodwill and easy macroeconomic conditions.

According to CB Insights’ 2022 State of Fintech Report, funding for fintech companies will drop by almost 50% in 2022 to $75.2 billion. Last quarter the industry performed its worst since 2018, with less than $11 billion in external funding. In contrast, the total number of closed deals did not drop significantly, dropping 8% to just 5,048.

Fintech funding fell across all industries in 2022.

Funding for Klarna’s payments division was down 49% to $20.8 billion from a reported $40.5 billion a year ago. By contrast, the banking industry was hit hardest, with funds down 63% to his $9.4 billion.

Check out the recent FMLS22 panel on Developing Female Leadership in Fintech.

Swiss Fintech Klarpay Becomes Member of Visa Network

In July 2022, the deposit-taking company announced that it has become a principal member of the Visa Network. Businesses that become Principal Members can take advantage of features such as card issuance, cash payments, merchant acquisition, and payment risk retention.

“Direct membership in the Visa network provides Klarpay’s merchant clients with a fast, simple, and integrated way to manage their funds and conduct day-to-day cross-border transactions,” Klarpay said in a statement. I’m explaining.

Klarpay has announced that its Level 1 Payment Card Industry Data Security Standard (PCI DSS) certification has been enhanced with the addition of Visa Principal Membership.To maintain a secure environment for credit card information, PCI DSS has implemented a series of compliance

compliance

Compliance in finance, banking, investment, and insurance refers to following rules or orders set by governmental regulators in the provision of services or processing of transactions. Financial compliance is also the state of following established guidelines or specifications. This designation also includes efforts to ensure that the organization complies with both industry regulations and government laws.Understanding Compliance What is Compliance

Compliance in finance, banking, investment, and insurance refers to following rules or orders set by governmental regulators in the provision of services or processing of transactions. Financial compliance is also the state of following established guidelines or specifications. This designation also includes efforts to ensure that the organization complies with both industry regulations and government laws.Understanding Compliance What is Compliance
read this term standards for all companies involved in the processing, storage or transmission of such data.

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