FinTech startup receives £700k grant to unlock eMoney-as-a-Service for the global SME market

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FinTech startup receives £700k grant to unlock eMoney-as-a-Service for the global SME market

Anna Tsyuko, CEO of Paybase approved.JPG

 

 

London-based FinTech startup Paybase has received a grant of almost £700,000 from Innovate UK to democratise eMoney infrastructure for SMEs and startups. 

Innovate UK is the nation’s innovation agency, which aims to drive growth by working with UK companies to de-risk, enable and support innovation. In the last 10 years, Innovate UK has helped more than 7,600 organisations, with projects estimated to have added more than £11.5 billion to the UK economy and created 55,000 jobs. 

Anna Tsyupko, CEO of Paybase, said: “We would like to thank Innovate UK for the grant which will go towards developing the business and perfecting our technology.”

“The electronic money (eMoney) space is competitive but we’re offering something different that will have a real impact on the SME sector. Electronic money infrastructure allows for the easy opening of eMoney accounts – lightweight financial instruments – in-app or directly on your website. This makes it perfect for escrow-like accounts, peer-to-peer-transactions and attached physical prepaid cards to name but a few applications. Essentially, it meets payment requirements that cannot simply be accommodated by a payment gateway and is the cornerstone of a lot of today’s FinTech innovation. Due to the complexity, legacy of systems and multiple partners required to create such infrastructure, however, the eMoney space is expensive, inaccessible and inflexible.”

 

 

“Innovation is key and the Paybase Platform will allow startups to access eMoney infrastructure without pouring huge amounts of resource into building their own, or relying on outdated legacy providers. This will permit partners to focus on their core offering, concentrate on listening to their customers and building the best products possible.”

The Paybase Platform is perfect for eCommerce marketplaces, gig economy platforms, crowdfunding platforms, charities or fundraisers as typically these platforms require more than just a simple payment gateway. With the Paybase Platform online marketplaces, for example, are able to easily create individual accounts for merchants, fully automate and customise fee collection, understand their customers and activities and protect their customers from fraud. Utilising the Paybase Logic Engine, marketplaces have the power to define custom business logic before and after transactions helping to retain their customers through beautiful payment experiences. 

The Paybase Platform was developed after the team went through the process of building a simple peer-to-peer payments app - Payfriendz. It became apparent that many payments partners are still set up to support the old-fashioned payments world - not the new, innovative FinTech companies that are quickly emerging. Going through this experience gave the Paybase team invaluable first-hand insight. They applied this insight to create something truly different which will enable  other businesses to avoid the struggles they had to face.

Due to be launched later this year, the Paybase Platform will allow partners to access eMoney infrastructure through one unified API which has been carefully designed to help businesses of all sizes - from startup to enterprise - to lower costs, simplify processes and build better products. For more information see the Paybase.

 

 
 

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WeAreTechWomen to launch TechWomen50 Awards: Nominations Open

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WeAreTechWomen to launch TechWomen50 Awards: Nominations Open

 

 

WeAreTechWomen is proud to announce the launch of its new TechWomen50 Awards.
 
The TechWomen50 awards are the first of their kind to focus solely on the female tech talent pipeline and recognise the impact of champions, companies and networks that are leading the way.
 
Whilst we feel it is extremely necessary to highlight successful and influential women, we also believe the pipeline of female technologists need a platform to shine too.
 
We hope that by highlighting the accolades of up-and-coming inspirational female tech talent, we can help to create a new generation of female role models for the industry.
 
Through the awards, we would also like to recognise a number of senior individuals who are championing up-and-coming women, as well as any organisations that have designed and implemented successful initiatives and programmes in order to attract, retain and develop the female tech talent.
 
Finally, we will applaud the often-voluntary efforts of the women in tech networks that operate across the UK, and again would like to formerly recognise these within our awards.

 


 
The details
 
Nominations will open online on 04 September via WeAreTechWomen. Nominations will close after a four-week period on 29 September.
 
A shortlist of 100 women from a range of technology disciplines will be chosen in October by an esteemed panel of judges. There will also be a shortlist of three champions, companies and networks.
 
The shortlist will then be published in November where we will also open the TechWomen50 and Network of the Year for public votes of support.
 
All winners will be announced in December. There will be 50 winners of the TechWomen50, a Champion of the Year, a Company of the Year and a Network of the Year.
 
All winners will be invited to celebrate their awards at a prestigious reception in January 2018.
 
The awards are kindly supported by BP, Bloomberg, Barclays, Capgemini, Deloitte, EY, Oliver Wyman, PwC, Santander and Verizon.