viafintech GmbH, which is part of specialized payments platform Paysafe (NYSE: PSFE), has formed a new partnership with Solarisbank AG with “a joint vision to replace the classic bank branch and physical locations for basic banking services.”
As one of Europe’s major banking-as-a-service (BaaS) platforms, Solarisbank offers global corporations and fast-growing Fintech firms with “a legally compliant and quick integration of financial services into their own product offerings via APIs.”
Thanks to the cooperation with viafintech, the barcode-based alternative payment infrastructure in Europe, many of Solarisbank’s partners will “be able to offer their customers more than 20,000 acceptance points for cash deposits and withdrawals across Europe in the future.”
The announcement also mentioned that the technical integration of the service has now been completed and tested, so existing and future partners of Solarisbank “can be connected immediately; they only need to integrate a few endpoints and design the front end of the feature according to their target group and corporate branding.”
Sebastian Seifert, MD and Co-Founder of viafintech GmbH at Paysafe, stated:
“Our new cooperation with Solarisbank brings together two very complementary sets of strengths and services. Our long-standing and resilient network of retailers in six European countries will now be able to facilitate the daily handling of cash for even more companies and their end customers.”
Leif Wienecke, MD Digital Banking, Solarisbank, remarked:
“From our point of view, bundling services like the ones provided by viafintech is the key to the banking customer of the future. They expect customer-focused solutions that make daily operations easier, not more complicated. The approach of being able to complete additional services while making regular purchases fits perfectly with our vision of a world in which financial services are seamlessly embedded in people’s everyday lives.”
As covered, Solarisbank is one of Europe’s Banking-as-a-Service platforms. As a tech firm with a full German banking license, Solarisbank enables other firms to provide their own financial services.
Through APIs, partners integrate Solarisbank’s modular banking services “directly into their own product offering.” The platform provides virtual bank accounts and payment cards, identification and lending services, digital asset custody as well as services “provided by integrated third-party providers.”
As noted in the update, viafintech “connects retailers, corporations and consumers through its platform to deliver digital financial and value-added services.” The viafintech API “connects businesses with more than 20,000 retail partner stores in Europe such as REWE, Rossmann, PENNY, Carrefour Italy and dm, ensuring a smooth and fully automated interaction between all stakeholders.”
The viafintech payment infrastructure “enables various services such as cash withdrawals and deposits, bill payments, credit payouts, cashless payment methods, prepaid solutions such as gift cards and many more.”