Blog Post by Emils Kragis, Business Development Officer at PayPugs.
While Eastern European countries have seen more than a 100% increase in the adoption of digital banking and use of cards, the numbers here are still relatively low compared to Western European countries like Netherlands and Germany.
The Eastern European market is emerging rapidly in the sector of digital banking, however, it still experiences some issues preventing it from fully accessing safe and efficient worldwide banking opportunities.
The right licenses and regulation allow PayPugs to provide banking services worldwide. And with such an ability comes great responsibility of keeping everything safe and compliant. To help keep the highest standards of data privacy and client’s regulatory compliance internationally, PayPugs acquired licenses from the UK and the USA.
In an era of global connectivity between people, PayPugs aims to provide the same possibilities in financial operations.
The Eastern European market is making great progress in implementing different banking possibilities. However, things can be uncertain due to political and economic tensions, so sometimes businesses are forced to obey and sometimes even suffer.
Full access to SEPA and SWIFT payments allows PayPugs to provide you with business opportunities in different countries worldwide. We understand that the development of new relationships is vital to keeping a competitive edge in the business world, thus we aim to fully support you on the financial operations side.
Knowledge and Experience
Having worked in the competitive and rising sector of Fintech, PayPugs has collected extensive experience in working with high-risk companies, industries, and countries. With our knowledge and understanding of different business models and operations, PayPugs can provide customized solutions to the liking of the client.
Our deep understanding of the struggles of acquiring trustworthy and reliable banking services, helps us to provide a seamless onboarding process and a great customer experience, as well as reliable solutions without physical touch.
While financial institutions in Eastern European countries have proven their ability to effectively operate, there are still many uncertainties when it comes to political events that may affect the operations of financial institutions. To have strong, well-developed partners is vital to keeping everything up and running. Likewise with managing to create relationships with financial institutions in stable countries like the UK or Malta. This has allowed PayPugs to supply its clients with EUR and GBP IBAN accounts that are less vulnerable to external implications.
Access to the Latest Trends
The Eastern European market is largely managing to implement Fintech technology, however, as many might know, Fintech is changing and developing all the time. It is hard for countries like Romania and Bulgaria to keep up with the constant developments.
Moreover, the global connectivity of people is also driving an accelerating demand for the latest Fintech and payment developments. Supplying the growing demand is troubling when the development and implementation of new technology takes time.
For this reason, PayPugs services and solutions can be a great option for those wishing to access the newest technology to keep a competitive edge.
Identifying the newest trends is a huge focus for any institution. However, identifying the trends, like crypto payments, is not proving to be the only challenge in the process as implementing such services is also a challenging task. To successfully integrate a new solution without raising concerns requires new licenses, regulatory guidelines, and other factors.
PayPugs is taking the necessary steps to provide the newest payment industry trends like crypto payments in a secure environment. For example, PayPugs has acquired a crypto exemption license to provide crypto payment services to clients, while also obtaining security of funds and compliance with laws. With everything in place, PayPugs offers its clients crypto payments using BTC, ETH, LTC, USDT, and any other cryptocurrency on request.
At PayPugs we understand the complexities of financial services and the uncertainty that our clients may experience. For that reason, we like to deal with each client individually and provide personal experiences by having a call that explains everything.
Make sure to contact us and we will answer any questions you may have.