Trading 212 Partners With Paynetics for Multi-Currency Cards
Trading 212, the Financial Conduct Authority (FCA) regulated online broker offering trading services, has announced a new partnership with European embedded finance provider Paynetics.
The deal sees Paynetics provide Trading 212 with multi-currency accounts and card payments for their stock trading services.
For Trading 212, one of Europe’s biggest stock trading apps, this partnership represents a new direction as Paynetics looks to spearhead financial innovation.
Trading 212: Broadening services with Paynetics
With Paynetics’ infrastructure, Trading 212 customers can use their account balance for everyday spending without having to cash out.
Leveraging Paynetics’ proprietary technology – Trading 212 can now offer best-in-class products for its customers, furthering the regulated investment, savings and active trading services it provides in global financial markets.
Kaloyan Yanchev, Head of Payments at Trading 212, says: “We’re extremely excited to be working with Paynetics - a leader in embedded finance. Democratising savings and investments is something that we’re very passionate about and this partnership allows us to increase the capabilities of our commission-free platform for our customers.”
Leveraging Paynetics’ embedded finance capabilities, Trading 212 is making its financial services offering all the more comprehensive, as it looks to go beyond being an online brokering service alone.
Indeed, embedded finance options have grown to support a range of financial services professionals and functions, allowing financial services to scale their services and belong to wider digital ecosystems.
Last year, we spoke to Paynetics Executive Chairman and Co-founder Ivo Gueorguiev, about ways embedded finance offerings can support programme managers in competing with fintechs.
Now that it has partnered with Trading 212, Paynetics’ Gueorguiev says: “We’re delighted to be partnering with Trading 212. Their innovative technology condenses a complex world into a simple and accessible app available in people’s pockets.
“By using Paynetics’ infrastructure, Trading 212 will be able to continue empowering investors with the ability to scale their trading globally. We look forward to working with Trading 212 as it disrupts the stock market.”
Now a partner of Trading 212, Paynetics has expanded its customer base to over 115 embedded finance clients, empowering them to design, build and operate innovative financial products.
Its partnership with Trading 212 follows its acquisition of Novus, the impact-neobank, as part of its commitment to advance ESG initiatives in financial services.
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