Based in Istanbul, Payfessional specialises in developing and implementing electronic payment processing solutions to the finance industry.
Through the partnership, the two firms hope to provide a solution to help clients manage changes in payments messages, formants and channels.
The Volante technology is intended to reduce the cost and timescale of payment integration projects. It can also help clients to react to regulatory and technological changes in the market, and take advantage of new business opportunities as they arise.
The VolPay Foundation product will help with meeting international and local payment flow integration requirements and the VolPay Channel product allows for faster onboarding of corporate payment flows.
VolPay Hub should allow for faster processing and orchestration of payment flows, and more control and visibility of payments and cash management.
President of Payfessional Sertaç Özinal commented: “Through our partnership with Volante, our clients will benefit by having access to a time-proven suite of payment products. In initial meetings with our customer base and prospects, we have seen that Volante’s technology addresses a number of headaches they have in regards to payment processing and integration, and specifically with regards to on-boarding corporates and new payment channels.”
Allan Spalding, Volante Technologies partners director for Europe, the Middle East and Africa, said: “Istanbul is a young, fast-growing financial hub, and as a result banks might not have the usual challenges of dealing with legacy systems that need updating.”
“However, as we have seen with other financial markets across the globe, firms in the region must still contend with new and ever-changing payment messages, formats and channels. By partnering with Payfessional, we will have additional local expertise so in-house teams can reduce project implementation times and bring new services to market quicker.”