The payments industry in Cyprus has a new entrant: Finera, which has launched as a payment orchestration platform, Finance Magnates has learned. The company is already offering the technology to a diverse portfolio
of companies
Targeting Businesses of “All Sizes”
According to its website, the company aims to offer businesses of all sizes secure, scalable technology for financial
transactions.
Further, the platform will also focus on mitigating payment risks, including fraud.
“One of the biggest challenges businesses face is managing multi-currency payments while ensuring strong security measures,” said Israel Waks, Chief Operating Officer of Finera. “Finera’s platform is designed to simplify this process, offering advanced fraud prevention, intelligent routing, and increased approval rates.”
“Businesses today need more than just payment processing; they need a partner that understands their challenges and provides strategic insights,” Waks added.
Finera revealed that it has already started onboarding clients and has established a team of over 100 people in its Cyprus office.
Will Cyprus Become the Next Payments Hub?
Finera
is poised to make a significant impact in Cyprus’ payments market. The company
is committed to enhancing its technology to empower businesses to thrive in the
digital economy.
“Our focus is on developing solutions
that empower businesses to thrive in the digital economy,” added Wats.
The
increased activity in the sector in 2024 indicates a vibrant market environment
and growing opportunities for innovation.
Earlier this year, Cyprus also made a significant change
in its banking infrastructure and reduced interbank and cross-border
transaction time to merely 10 seconds, which previously took one or two days.
The payments industry in Cyprus has a new entrant: Finera, which has launched as a payment orchestration platform, Finance Magnates has learned. The company is already offering the technology to a diverse portfolio
of companies
Targeting Businesses of “All Sizes”
According to its website, the company aims to offer businesses of all sizes secure, scalable technology for financial
transactions.
Further, the platform will also focus on mitigating payment risks, including fraud.
“One of the biggest challenges businesses face is managing multi-currency payments while ensuring strong security measures,” said Israel Waks, Chief Operating Officer of Finera. “Finera’s platform is designed to simplify this process, offering advanced fraud prevention, intelligent routing, and increased approval rates.”
“Businesses today need more than just payment processing; they need a partner that understands their challenges and provides strategic insights,” Waks added.
Finera revealed that it has already started onboarding clients and has established a team of over 100 people in its Cyprus office.
Will Cyprus Become the Next Payments Hub?
Finera
is poised to make a significant impact in Cyprus’ payments market. The company
is committed to enhancing its technology to empower businesses to thrive in the
digital economy.
“Our focus is on developing solutions
that empower businesses to thrive in the digital economy,” added Wats.
The
increased activity in the sector in 2024 indicates a vibrant market environment
and growing opportunities for innovation.
Earlier this year, Cyprus also made a significant change
in its banking infrastructure and reduced interbank and cross-border
transaction time to merely 10 seconds, which previously took one or two days.
This post is originally published on FINANCEMAGNATES.
