Bulgaria-based CatalystPay has announced its strategic partnership with Paynetics in a bid to improve its comprehensive payment solutions network. As per the information detailed in the press release, CatalystPay entered a collaboration with Paynetics to enhance its payment solutions network.

As an Embedded Finance provider, Paynetics is a licenced e-money institution authorised by the Bulgarian National Bank to expand its capabilities across the EU. CatalystPay – Paynetics collaboration objectives By joining forces, CatalystPay and Paynetics aim to expand the former’s European ecosystem of acquiring bank partners, solidifying the company’s commitment to offering versatile and robust payment services customised to the evolving needs of digital businesses. According to CatalystPay’s officials, the partnership underlines their company’s commitment to a multi-acquiring strategy developed to increase the reach, visibility, and sustainable growth for digitally native businesses within Central and Eastern Europe (CEE). Furthermore, one of the immediate benefits of this collaboration is CatalystPay’s additional capability to provide settlements in Bulgarian Lev (BGN), together with other currencies, enabling digital merchants in Bulgaria to simplify their settlement processes and avoid redundant foreign exchange fees.

This is set to represent a strategic advantage for local businesses needing to expand their operations internationally. Additionally, the partnership with Paynetics solidifies CatalystPay’s footprint in the local and regional markets where it allows allowing businesses to achieve their international expansion objectives. Considering the current environment, where digital payments are surging supported by the digitalisation of commerce and services, collaborations aim to meet the needs of merchants and consumers, providing them with access to a diverse range of payment methods, including credit cards and digital wallets like Apple Pay and Google Pay. Also, the alliance between CatalystPay and Paynetics intends to fortify the local and regional fintech landscape, delivering access to the local market and facilitating global reach for local entities with international strategies.

Representatives from Paynetics underscored that the collaboration aims to further enhance their company’s capabilities and solidify its position as a regulated fintech in Europe. .