Contis and NAGA are revolutionising investment companies’ capabilities in the region. Via Contis’ Buffer solution, users of NAGA’s platform will be able to link and access funds held directly in their payments and brokerage wallets. NAGA will also gain access to the UK and EEA payment rails, as well as adding a globally recognised VISA Debit Card to its offering, accepted at over 140 million merchants worldwide.
This partnership represents an important milestone in the rollout of Contis’ holistic, trusted, and scalable BaaS offering to the wider German market. In turn, enabling fintechs, banks, and businesses in the region the opportunity to offer innovative financial products and services to their customers, without the burden of complex compliance and payments processing headaches.
Following the company’s decision to join forces with Solarisbank in July 2021 this announcement marks the latest step in Contis’ expansive strategic growth plans, building on its existing network of clients and partners across central Europe (including the likes of Austria’s Bitpanda) to cement its presence in the region.
Peter Cox, Co-Founder and Chairman at Contis, comments: “Ten years ago, “fintech” was still a buzzword in Germany. Today, the country is increasingly becoming one of Europe’s leading fintech hubs. As payments technology innovation continues to disrupt traditional banking models across Europe, market players of all size are seeking new ways to bring competitive solutions to their customers. Our decision to expand our German presence aligns with our vision to bring about a future wherein anyone can easily and seamlessly transfer any payment value, anywhere, anytime, whilst meeting consumer demand for next generation products and services in a marketplace ripe for digital transformation.”
Now a member of Visa-Ready (the elite certification for fintechs) and live on Mastercard – the leading and most widely accepted card schemes in Germany – Contis is set to make launching innovative payments solutions easier, faster, and more secure for businesses in the region. The firm’s Buffer solution, which converts assets to fiat currency at point of sale, means that consumers can now benefit from digital assets as investments or a form of everyday spending. In response to Mastercard’s recent announcement that any bank or merchant on its vast network can soon offer payments via Bitcoin and other crypto services, Contis is seeing growing interest in its cutting-edge Buffer technology across the region.
“Digital assets are dictating the direction of travel in fintech. Consumers are demanding alternative payment methods, and the payment networks are listening. As a European leader in embedded finance and digital asset payments solutions, we will bring an added layer of functionality and simplicity when it comes to everyday spending for the German consumer,” adds Cox.
In the wake of Brexit, the ability for German banks, fintechs, and corporates to maintain access to the full European market will be vital. Contis’ partners and clients in the region will notably be able to continue to passport their services across the EU and into the UK.