Tag Archives: merchants

Business, Financial, Financial Information, Financial Services, Financial Solutions

Jifiti, a leader in white-labeled embedded lending, obtains an Electronic Money Institution (EMI) license in Europe following a rigorous review from the Swedish regulator

STOCKHOLM, 6-Nov-2023 — /EPR FINANCIAL NEWS/ — Jifiti, a global leader in white-labeled embedded lending, today announced that it has been granted an Electronic Money Institution (EMI) license in Europe, following the Swedish regulator’s rigorous review and qualification process.

As a white-labeled solution provider to banks, regulated lenders and financial service providers globally, Jifiti strictly adheres to multinational regulatory and security standards. The EMI license serves as comprehensive validation of the company’s robust compliance and regulatory standards, which also include PCI/DSS, SOC 2 and ISO 27001 certifications.

With its EMI license, Jifiti is able to serve the growing needs of its bank, lender, financial services and merchant clients with a broader scope of payment products and services. Banks and lenders that want to innovate rapidly and compete efficiently in the ever-evolving payments landscape can now do so with Jifiti with the confidence and knowledge that there is enhanced regulatory oversight.

Being licensed also furthers the company’s unparalleled ability to offer pan-European solutions for multinational banks and merchants.

“Our mission at Jifiti is to provide consumers and businesses with access to responsible, affordable financing options from regulated financial entities. Becoming a licensed e-money issuer takes our company to the next level in its growth trajectory and enables us to bring even more value to our customers and partners, ” commented Yaacov Martin, CEO of the Jifiti Group.

Jifiti’s white-labeled embedded lending platform supports every B2B and B2C point-of-sale financing option, including installment loans, lines of credit, net terms and split payments. With its global presence, Jifiti gives consumers and businesses worldwide easy access to loan programs from trusted local banks and lenders from within any customer journey.

About Jifiti

Jifiti (https://www.jifiti.com) is a leading fintech company that powers white-labeled embedded lending for banks, lenders and merchants worldwide. The company’s white-labeled platform provides banks and lenders with state-of-the-art technology to easily deploy and scale any consumer and business financing program at any merchant’s point of sale – online, in-store and via call center. The platform supports every loan and BNPL option, including installment loans, lines of credit, split payments and business financing. With its multinational presence, Jifiti provides end-to-end point-of-sale financing solutions to global brands in any international market. Jifiti is utilized by leading financial institutions including Mastercard, Citizens Bank, CaixaBank, Credit Agricole, financial service providers including FIS, Finastra and Fiserv, and top retail brands including IKEA, Peloton, Wyndham, Wayfair, Sonae, Coppel and others worldwide.

Jifiti is headquartered in Columbus, Ohio, and has offices in Sweden and Israel.

SOURCE: EuropaWire

Business, Financial, Financial Services, Financial Solutions, Money

UC Group moves online security to a new level with acquisition of information security specialists, Cognosec GmbH

UC Group has acquired Cognosec GmbH in a bid to extend its global information security services for the online business community. UC Group and Cognosec GmbH will jointly focus on assisting businesses to trade more securely, by providing integrated security, risk management and payment services, in response to the growing number and sophistication of cybercrimes.

Cognosec GmbH will become part of UC Group’s payment business, reporting to the SecureTrading Group. SecureTrading and Cognosec GmbH together will help merchants to secure the whole payment processing value chain – data, devices and networks – as cybercrime threats become more complex and harder to manage using existing safeguards. Critically, the two companies will also help online retailers and operators to meet their PCI DSS obligations as compliance becomes increasingly complex and expensive.

UC Group is a trusted advisor to US, UK, Asia Pacific and EU lawmakers and regulators and has extensively led the call for improved consumer and business protection to identify and minimise the growing risks to online businesses. In Europe alone, cyber-attacks are growing by 60 per cent a year, while 85 per cent of credit card record thefts are stolen by means of organised crime. The US currently accounts for 47 per cent of the global credit and debit card fraud, while generating only 27 per cent of the global total volume of purchases and cash, according to a recent Nilson Report.

The Cognosec GmbH acquisition enables UC Group to combat payment processing value chain and information security risks through the assessment and application of appropriate security for businesses in any part of the globe.

Oliver Eckel, CEO at Cognosec GmbH, says, “There are strong mutual benefits to both UC Group and Cognosec GmbH; through our specialisms in assurance, governance, enterprise risk and information security management, coupled with UC Group’s understanding of the online market and selected exclusive worldwide partnerships, we will be able to further extend our global reach. As more and more business goes online, the volume and type of threats to security are growing; we have the skills and track record to ensure that key business assets are safeguarded, whilst ensuring that businesses can trade uninterrupted. And with the advent of mobile business, our clients will be looking for even greater support, which we are better placed to offer as part of UC Group.”

Kobus Paulsen, CEO of UC Group, says, “UC Group leads the way in improving the quality and efficiency of internet business for online product and service providers. Recently UC Group has spearheaded the drive to regulate online gaming in Spain and the US to apply appropriate controls and safeguards for improved consumer protection. The acquisition of Cognosec GmbH strengthens our core proposition: to offer our clients safe and secure e-solutions for global trading.”

Via EPR Network
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Business, Financial, Financial Services, Financial Solutions, Money

Mobile workforce solution provider ensures its services are on TAAP thanks to SecureTrading

TAAP, which helps organisations in the private, public and not-for-profit sectors save money and improve service through the latest mobile technology has chosen SecureTrading, the UK’s leading independent payment processor, to enable its clients to take payments using mobile devices. The solutions are used by a range of customers including charities such as Shelter to allow credit and debit card payments to be made via smartphones.

TAAP (The Agile Application Platform) is a sophisticated workflow system, which provides mobile workforce solutions and applications to organisations operating ‘in the field’. Using mobile devices pre-loaded with TAAP software, clients can receive, collect and transfer rich data from a PDA, smartphone or tablet to a secure web portal or back-office system in seconds. The systems are also scalable and flexible, making it easy to adapt to the most demanding environments from charities involved in face-to-face to fundraising to automotive clients delivering replacement vehicles and parts.

As with any transaction, data integrity is paramount and the solution’s software doesn’t save any of the credit card details so the transaction is fully secure and PCI compliant.

Angela Walker, Marketing Manager at TAAP, says: “SecureTrading’s products meet our business requirements and by offering an alternative payment method to cash, our clients have the opportunity to generate more income through cards and also improve cash flow as invoices do not need to be chased.”

Tim Allitt, Head of Sales & Marketing at SecureTrading, says, “Providing our clients with the facility to take payments via smartphones and PDAs is part of our ongoing mobile payment strategy. Indeed, the importance of mobile payments will become increasingly clear over the coming months and SecureTrading’s focus is on ensuring our gateway is accessible via whatever technology online retailers, merchants and partners want to employ.”

Via EPR Network
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