PaynoPain will jump to Europe after obtaining a full payment institution license from the Bank of Spain

MADRID, 30 May. (EUROPA PRESS) -

PaynoPain has obtained the full payment institution license from the Bank of Spain to carry out payment services for companies, which means that the Spanish fintech will no longer have a limitation on the volume of payments it can process monthly and will be able to apply for a passport to operate in other countries in Europe.

The entity has celebrated that the license is a further step in the development of the services it offers and that it will allow it to continue expanding its horizons, while announcing that in August it intends to work with clients in Italy, Malta and Portugal.

PaynoPain has highlighted that obtaining the license confirms that all the processes for safeguarding funds and processing with card schemes work in accordance with the requirements of the Bank of Spain and, therefore, "with the most demanding guidelines in the world, guaranteeing thus the security of the operations and the funds of its clients".

Likewise, the granting of the license implies that, from now on, the Spanish fintech will no longer have a limitation on the volume of payments that it can process monthly and will be able to request a passport for all of Europe. The payment entity license will also allow you to make transfers.

PaynoPain has been dedicated to specialized technological development in payment methods for more than 11 years, with the aim of offering solutions for payment projects in public transport, to comply with PCI in the hotel sector or financial self-management in areas with very low banking rates. South America or Africa.

Its main products are its Paylands merchant payment gateway, its ChangeIt electronic wallet application and its Fintech Lab, where it works to create the necessary technology for other fintech projects to become a success.

The CEO and co-founder of PaynoPain, Jordi Nebot, has celebrated that receiving this license from the Bank of Spain is "a crucial turning point" for growth and projection as a "key fintech in the sector in the rest of Europe".

"Since the beginning of the journey that we began in 2011, with the mission of providing payment coverage on a global scale and becoming the cutting-edge technological 'partner', we have done nothing but grow. In our beginnings we started with four employees and now we have formed a team of more than 30 people to carry out all the projects we have in more than 12 countries", he highlighted.