Transact Pro successfully attends Money 20/20, the most influential exhibition of financial technologies in the world

During the exhibition Money 20/20, Transact Pro presented its financial technology solutions for online traders, corporate clients, banks and payment service providers, as well as payment platform for the development of new financial tools.

Money 20/20 Europe is a conference and exhibition of financial technologies. The exhibition gathers all parties involved in the financial and commercial revolution: payment and financial service providers, banks and non-banking institutions, retail sales representatives (online and offline), marketing and data processing companies, investors, advisory companies and state institutions.

Money 20/20 took place in Copenhagen. A whole day in the conference programme was dedicated to the topic of banks and how bank services might look in the future. “FinTech companies are currently providing active support to traditional banks. The first day of the conference was dedicated to the current situation in the banking area, the second and third day to several new solutions that would be more convenient for end users,” said Yuriy Bordulan, Transact Pro Business Development Manager.

Mr Bordulan emphasised that payment platforms were a topical issue, as they not only improve the offer to clients, but also expand the experience of financial companies. Platforms help clients to implement new standards and improve their quality. “Transact Pro offers its clients a wide range of White Label services that make it possible to create a product entirely using the client’s corporate brand. Transact Pro also offers its clients API services for simpler integration and improvement of efficiency, payment processing and the payment gateway, as well as payment and loyalty cards that can be issued by a brand. Our clients are offered a separate convenient payment platform to be able offer independent payment services,” said Mr Bordulan.

Interest in the services provided by Transact Pro was high and trade companies and payment industry representatives were interested in the services provided by Transact Pro. Modern life requires quick payment solutions, continuous access to payments, the opportunity to obtain a loan in minutes and instant access to money. It is the real-time processing of payments, rather than traditional processing of transfers and transfers to accounts that takes several days. Mr Bordulan said that the trend of real-time payment processing is gaining popularity. Customers are looking for flexible solutions that can be easily adapted to changing requirements, service speeds and functionality. Yuriy says that this is an important aspect for the successful development of a financial company today.

Transact Pro plans to complete the technical integration to perform servicing and processing of direct payments, and work on the development of card solution infrastructure, implementation of new and improvement of existing services. Mr Bordulan said that prevention of fraud is one of the key aspects: “We use the most modern algorithms and mechanisms of intellectual analysis to verify transactions automatically and manually. The fraud prevention monitoring system we developed helps to reduce the number of returned payments and losses incurred as a result of fraudulent activities.”

During Money 20/20, matters related to legislation were also discussed. PSD2 started working in January 2016 and the goal was to include it in the national laws of all European Union Member States until January 2017. As in the case of GDPR, it includes unprecedented changes in the regulatory framework that will provide wider consumer rights through improvement of security, protection, types of payment services and improvement of competition. PSD2 fosters the principle of “open banking” that was widely discussed during Money 20/20.