Lithuanian electronic money institution ConnectPay has teamed up with financial API platform Salt Edge to be able to offer Open Banking payments to its customers in Germany and the Netherlands.
ConnectPay said it had selected the Salt Edge ‘Payment Initiation’ solution after searching for a partner that could help it integrate multiple bank APIs across the two countries, given that the “technical documentation differs depending on each bank”.
The partnership with Salt Edge will allow ConnectPay to integrate with a number of financial institutions and offer merchant services based on Open Banking in Germany and the Netherlands.
Marius Galdikas, CEO of ConnectPay, said: “Salt Edge lived up to our expectations and offered a one-size-fits-all solution to reach the most popular financial institutions in Germany and the Netherlands, rather than integrating them one by one.
“Combining the strengths of Salt Edge and ConnectPay will enable us to offer high-quality merchant services to our e-commerce customers.”
“Our solution provides ConnectPay access to major banks in Germany and the Netherlands with a single connection and enables them to offer high-quality merchant service to their customers,” added Vasile Valcov, VP at Salt Edge.
In November last year, Salt Edge was chosen by Icelandic bank Landsbankinn to enable it to become PSD2 compliant, ahead of the new Act on Payment Services, which transposes the European PSD2 into Icelandic law, which takes full effect on 1 May 2022.