Nayax and Zaria file for bank charters

Two major fintech players, Nayax and Zaria Systems, are applying for U.S. bank charters. This move signals a shift where payment processors want to become the actual lenders rather than just the middlemen. For retailers, this could eventually mean more integrated financing options at the point of sale without needing a separate third-party bank. Nayax is already well-known for its payment terminals and loyalty programs. By becoming a bank, they can offer credit products directly to your customers and potentially lower the fees you pay for financing programs. Zaria Systems focuses on the backend of credit and structured finance. Their move into banking suggests that the technology behind consumer loans is becoming more automated and data-driven. What this means for your business today is that the 'Fintech-as-a-Service' model is maturing. We are moving away from a world where you need one company for payments and another for consumer credit. In the near future, your payment terminal provider might also be your primary lender, offering instant credit lines to your customers with fewer hurdles. Keep an eye on your current payment providers to see if they follow suit, as this usually leads to more competitive rates for merchants.

Source: Finextra — Lending

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