Beyond Business: How Finaro & SysPay's Relationship Drives Payments Success!

The ultimate power couple in the payments industry, Finaro and SysPay have taken innovation and expertise to an entirely new level. In this article, we'll spill the beans on how our collaboration brought success to SysPay and how we keep collaborating successfully. 

SysPay: An Expert Maltese PSP

With over 10 years of experience, SysPay is regulated by the Maltese Financial Services Authority (MFSA) and operates within the European Union as a Payment Service Provider (PSP) and electronic money issuer. 

SysPay provides online payment solutions to merchants in the hospitality and ecommerce industries. Operating within the B2B2B environment, SysPay works with companies that provide the technical backbone of hospitality software, including channel managers, booking engines, and program manager systems.

All of these systems are integrated with SysPay's solutions, geared towards payment acquiring, allowing merchants to benefit from a seamless and hassle-free payment process.

Partnering up with SysPay to navigate challenges and unleash new opportunities 

SysPay was looking for a partner who could guide them through their challenges, and we were more than happy to step up to the plate. This is how our partnership started back in 2014.

When the COVID crisis hit, we knew that we needed to help SysPay reposition themselves strategically. We worked closely with them to find new markets to target, including specific developments for the hospitality industry. We were able to guide them in exploring new avenues, such as regulated gambling and crypto. Although they had little experience in these industries, our expertise helped them understand the risks and select the right merchants to work with to maximize their AR. 

Our technology was able to adapt to SysPay's specific needs, including their asynchronous workflow with long delivery dates and technical environment that meets specific regulations. We were also able to help SysPay overcome a specific challenge related to MCCs that some of their partners had to use.

Unlocking success: the power of our strategic partnership

Our partnership has been built on trust, and we strive to provide SysPay with a frictionless experience by offering flexibility. To SysPay, we are more than just an acquirer; we are a partner who is always ready to embrace new challenges and help them position themselves towards new markets. Here are some details:

• We operate 5 accounts, 3 PFs, and 2 PSPs for various purposes.
• SysPay has doubled its processing since starting with us in 2021, reaching over 100M EUR transaction value this year.
• Our specific services helped SysPay to position themselves better across different markets.
• When SysPay lost its other acquirer, we helped them transfer merchants to us and provided a solution for offering two different MCCs for the same transaction based on the channel used.
• The project spanned over several months and involved many of our teams, resulting in a high acceptance rate for SysPay.

Collaborating for success

In the past few years, Syspay and Finaro partnered to build a symbiotic relationship that goes beyond exchanging services. Our commitment to understanding their specific demands and providing the necessary support has allowed us to collaborate successfully. We are proud to be a part of SysPay's journey and look forward to continuing our fruitful partnership for many years to come. With SysPay, it is more than a partnership, it is a collaboration that drives us to excel together.