Veengu and FinOn join forces on merchant acquiring infrastructure for banks and PSPs

This partnership between Veengu and FinOn is designed to modernize how banks and payment providers handle merchant services. For a retailer, this matters because it simplifies the behind-the-scenes technology that allows you to accept payments and offer financial products. By combining Veengu’s core banking software with FinOn’s payment processing tools, the companies are making it easier for smaller banks and specialized lenders to enter the market. This increased competition among providers usually leads to better rates and more flexible tools for merchants. The new infrastructure focuses on speed and customization. Instead of being locked into a one-size-fits-all payment processor, banks can now build unique financing and payment flows tailored to specific industries. This could mean faster onboarding for your store and more reliable payment processing during peak hours. As these technologies become more accessible, expect to see more localized banks offering competitive merchant financing programs that were previously only available through giant national institutions. It bridges the gap between old-school banking reliability and modern fintech speed.

Source: Finextra — Lending

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