4 August 2021 - LONDON - Vivid - the Berlin-based financial platform for investing, banking and saving - and ECOMMPAY - a leading international payment service provider with its own fintech ecosystem for business growth - have today announced a partnership to allow instant Visa and Mastercard card top-ups through Vivid as part of a bespoke mobile-first full-service banking solution. The new banking features will optimise Vivid’s cash flow, making moving money more efficient and convenient.
This partnership offers consumers across Europe with Vivid’s IBAN accounts access to funds instantaneously, meaning they no longer need to wait days to receive funds via wire transfer. The convenient top-up experience is now available for Vivid’s 100,000+ customers across Germany, France, Italy, and Spain, and is underpinned by ECOMMPAY’s data-driven payments technology, which has been tailored to provide strong customer authentication and security measures that are fully-compliant with PSD2 requirements. All top-ups are enabled in collaboration with Solarisbank AG, which is regulated by the German regulator BaFin. Deposits are covered by the German Central Bank’s Deposit Guarantee Scheme. ECOMMPAY will also enable Vivid users with access to Apple Pay and Google Pay - offering convenience that is 3DS compliant and helping meet consumer demand for mobile payment methods.
By working with ECOMMPAY, Vivid will be able to boost its expansion efforts across the EU as it benefits from enhanced customer experience features, security measures, and comprehensive risk management, through a single, unified integration.
This trailblazing collaboration sees three organisations - leading European fintechs, neobanks, and a traditional bank - partner across various jurisdictions, adhering to regulatory requirements, and uniting new functionalities and data-driven technologies into one process to expedite Vivid’s growth, and offer businesses and consumers the latest banking innovations. The secure payment solution uses ECOMMPAY’s bespoke financial technology and Solarisbank’s German banking license to prioritise convenience and security for the user experience. This non-standard model of cooperation between leading fintechs and a traditional bank under complicated regulatory conditions is pioneering in pursuit of customer success. The partnership marks the beginning of a tech collaboration that will lay groundwork to provide further payment options - such as cashback programs, sub-accounts in foreign currencies, and investment products - as well as expand the offering outside the EU to offer international payment methods for top-ups.
Vladimir Polakov, Head of Sales Force Division at ECOMMPAY, comments: “We at Ecommpay think that there is nothing impossible. Some tasks are simply more complicated than others when growing businesses such as Vivid’s. We pride ourselves on taking action on non-standard business goals and challenges, to find unique and collaborative solutions that change the face of the financial ecosystem. This direct to card top-up option wouldn’t have been possible without the collaboration of leading tech innovators in the financial industry. By putting the end-user first we’ve created a payment option that provides both security and speed.”
Alexander Emeshev, co-founder and CEO of Vivid Money, comments: “This partnership marks a huge step forward for Vivid card users as we continue our pursuits in building a European financial super app. This is the next logical step in offering our account users the capabilities to send, receive, spend, invest and save money in different ways as we scale. Vivid card users get all the benefits of a German IBAN account without having to compromise their personal banking requirements or business necessities across Europe. The arrangement with Visa and Mastercard is as unique as our cards, offering consumers and businesses access to funds instantaneously.”
ECOMMPAY is an entire fintech ecosystem that allows you to make online payments and payouts globally. It is not just a payment service provider; it is your business partner that creates data-driven tailored payment technologies for your company and guides you through this fast-changing e-commerce environment. No irrational decisions or one-size-fits-all technologies. ECOMMPAY’s solutions are based on analysis, and the company constantly monitors the payment process, which allows it to find the synergy between conversion and security for every client. Go global being local with 100+ alternative payment methods and direct acquiring capabilities. Feel its experts’ support and enter a new era in the history of online payments with ECOMMPAY.
Vivid Money is the first financial platform that combines all daily needs around money in one app. Whether investing, banking or saving, Vivid offers a simple, flexible and transparent solution to help customers grow their wealth. The company aims to provide customers across Europe with an unparalleled investment and banking experience, offering a wide range of financial services without unnecessary fees. Just eight months after its launch in June 2020, over 100,000 active customers are already using Vivid products in Germany, France and Spain. Vivid Money was founded in Berlin in 2019 by Artem Yamanov and Alexander Emeshev and is made up of an international, highly qualified team of more than 300 employees. The app, the customer service and the processes for the maintenance and further development of the app have been tested and awarded by TÜV-Süd. After only one year, Vivid Money has already raised over 100 million euros from renowned investors, including Ribbit Capital and Greenoaks Capital, and is valued at 360 million euros.
Solarisbank is Europe's leading Banking-as-a-Service platform. As a technology company with a full German banking license, Solarisbank enables other companies to offer their own financial services. Via APIs, partners integrate Solarisbank's modular banking services directly into their own product offering. The platform offers digital bank accounts and payment cards, identification and lending services, digital asset custody as well as services provided by integrated third-party providers. In 2019 Solarisbank established the 100% subsidiary Solaris Digital Assets GmbH to offer a licensed custodial solution for digital assets. To date, Solarisbank has raised more than EUR 350 million from a bluechip shareholder base, including ABN AMRO’s Digital Impact Fund, Athos, BBVA, CNP (Groupe Frère), Decisive, finleap, Global Brain, HV Capital, Ilavska Vuillermoz Capital, Lakestar, Pathway Capital Management, Samsung Catalyst Fund, SBI Group, Storm Ventures, Visa, Vulcan Capital, and yabeo Capital.