Israel’s FinTech PayMe plans to expand into the European market, capitalizing on a regulatory change that has led to a âgold rushâ.
As the Jerusalem Post reported on Wednesday, December 29, the company hopes to offer its services to platforms, organizations and markets focused on small businesses in Europe, allowing them to integrate services such as credit clearing, financing and marketing. protection against fraud in their products.
“Until recently, there was no way to calculate the risk in the European market,” said the co-founder of PayMe Adam kogan.
But things have changed with the regulatory reforms, Kogan added: âThe whole European market has become more popular; it’s a gold rush right now.
However, PayMe, which provides financial services to more than 70,000 companies worldwide, says it has goals beyond Europe.
The company recently launched a collaboration with payment processor Stripe, allowing customers working with PayMe to get a financial solution that works in all territories and with all payment methods supported by Stripe.
âThe FinTech industry in Israel has grown tremendously in recent years and includes incredible companies that are expanding into the global marketplace,â Gur Byron, Stripe’s Israel Operations Director, told the Jerusalem Post. âPayMe has definitely stood out as a FinTech company with a strong value proposition for markets, platforms and start-ups, as evidenced by the company’s rapid growth and volume of payments. “
âIt is very difficult to create your own financial services,â Kogan said. âEveryone wants to be a one-stop-shop, and we’re helping them achieve that in the financial space. “
Read more: The EU’s ‘single market for data’ could be inspired by UK bank opening rules
PYMNTS explored the changing regulatory landscape in the EU earlier this month in a conversation with Juan Delgado, director of the Chicago-based Global Economics Group.
âThe intention of this regulation is to create a large data pool that every company can use, across Europe, to create their own products and innovate with new data products,â said Delgado.
What the EU is doing, he added, âis adopting two types of strategies. One of them is this idea of ââadopting specific remedies on data regulation for big tech companies. And then, simultaneously, they’re trying to create a single market for data.