Interview with Lili Metodieva, Managing Director, Monneo

Revamping e-commerce funds: Interview with Lili Metodieva, Managing Director, Monneo
By Edlyn Cardoza

March 22, 2022

BNPL
Compliance
Digital Payments

Lili Metodieva, Managing Director, Monneo
The COVID-19 pandemic has brought on a revolution throughout each trade across the globe. It has unexpectedly additionally reworked the best way of funds and launched digital funds in a brand new method for the world. 
The demand for on-line, contactless, digital, speedier, and frictionless funds will solely improve as innovation continues to develop within the trade. This signifies that FinTech start-ups, equivalent to digital fee corporations and BNPL suppliers, will proceed providing straightforward and fast methods to make funds. 
Consumers have been the goal for a lot of new fee companies, however companies have been the point of interest for fee purveyors constructing new on-line markets.
Monneo is a digital IBAN supplier & Merchant Account supplier dedicated to working with International, EU and UK banks to interrupt down legacy limitations and join e-commerce retailers with international, digital, banking networks. 
IBS Intelligence sat down with Lili Metodieva, Managing Director of Monneo, to debate the funds panorama for e-commerce retailers.
How does Monneo assist e-commerce retailers?
At Monneo, we now have constructed an accessible, versatile answer excellent for e-commerce retailers of all sizes, particularly these underserved by conventional monetary companies. Our infrastructure relies on the Open Banking idea; nonetheless, the platform represents a superior market various breaking new floor.
Through an revolutionary know-how platform, we permit on-line retailers to just accept card funds obtain settlements from acquirers into devoted IBAN accounts and payout whereas nonetheless sustaining management of a number of IBAN and service provider accounts at a number of completely different banks all via a single platform.
How does Monneo guarantee its service stays compliant and adheres to related laws?
We endeavour tirelessly to uphold compliance and safety via our service, guaranteeing our purchasers might be onboarded in a secure however environment friendly method. To this finish, we work intently with our banking companions to make sure that our prospects’ cash is all the time safeguarded. 
In addition, we’re additionally an authorised fee establishment regulated by the Financial Conduct Authority (FCA) within the UK. Every factor of our work stays absolutely compliant with all related directives that govern our companies, together with these associated to the European Union Payment Services Directive (PSD2). 
Recently, Monneo launched a brand new service often called ‘Pixelpay’. What will this service deliver on your purchasers?
Pixelpay is a stand-alone monetary product explicitly designed for the affiliate internet marketing trade. The closed-loop monetary ecosystem removes the friction in funds between advertisers, networks, and publishers. With Pixelpay, affiliate networks can ship and obtain multi-currency funds worldwide. 
As a end result, the answer resolves a number of important points at the moment affecting the affiliate internet marketing trade. The revolutionary answer has been constructed on the again of our full fee ecosystem, so it’s linked to our in depth community of main European and International banks.
Monneo additionally has begun its Latin America growth with the assist of PIX. What does this development imply for Monneo?
It’s an thrilling improvement that reaffirms the Monneo platform’s international attain. Through our launch in Brazil, Monneo’s purchasers can now ship and obtain cash through the nation’s hottest fee channels, together with PIX, the digital fee system at the moment utilized by 62% of the nation’s inhabitants.
Our prospects can now use our service to assist purchasers execute funds in ways in which individuals in Latin America are most accustomed to. Furthermore, prospects can leverage our answer to realize better entry to markets in Latin America for accepting funds on their web sites and paying out. 
In your opinion, what important development will 2022 deliver for funds?
I believe we are going to see important developments in borderless banking in 2022. This type of monetary transaction has change into extra prevalent in recent times. More individuals now work in cross-border job roles and with many companies requiring capital in a unique foreign money than their nation of origin.
This development appears to be like set to proceed, so we’re prone to see the demand for borderless banking companies develop. Companies that present digital banking options, equivalent to us, will probably be important to this development and may assist make cross-border monetary transactions each value and time efficient within the close to future. 
ALSO REGISTER FOR: IBS Intelligence’s Payments & Lending Conference in Mumbai on March twenty fourth

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