The challenge: delivering in-app SEPA payments
Spain-based Verse, a mobile P2P payments provider, wanted to seize an opportunity to move quickly on the P2P payments scene to allow its users to instantly send money to any eurozone country – without the need for Verse to rely on an intermediary to execute payments.
In close partnership with Metasite – a Holland Fintech member providing bespoke technology engineering for Financial Services – the fintech smoothly launched Eurozone-wide instant mobile app payments in active use by over half a million customers. Metasite SEPA Payments Plug-In Application enabled Verse to confidently go live with the full range of cross-border payments, driving a significant increase in payment transactions.
“We’re very happy to have chosen Metasite as our technology partner for launching a new service vital for our business – SEPA instant payments that enabled instant transfers to all banks in Spain and the Eurozone without the need for an intermediary”, shares Jaume Miró, Verse COO.
The company is now part of the Cash App organisation, a mobile payment service developed by a US-based fintech Square with over 36 million monthly active customers.
The solution: Metasite SEPA payments plug-in application
Verse chose to integrate its core banking system with the Central Bank of Lithuania CENTROlink payment system because that enables Verse to incorporate SEPA instant payments and credit transfer into the Verse app experience.
Yet integrating SEPA payments into the Verse core banking infrastructure posed some challenges – from ensuring a smooth roll-out through to meeting technical and compliance requirements. Verse needed a partner that could deliver a steady, re-assuring route to achieve its objectives. At the same time, Verse wanted to retain maximum decision-making power and flexibility to meet demanding user expectations.
In Metasite, Verse found a technology partner with a unique mix of a tailored approach as well as expertise and speed. Metasite also has an established yet highly customisable middleware solution that provided a stepping stone: Metasite SEPA Payments Plug-in Application.
The application is a customisable middleware hosted on Verse infrastructure, which cuts out the need for payments intermediaries. The plugin is designed for quick deployment with the goal to help fintech companies such as Verse to quickly access real-time payments.
Read the full case study at https://www.metasite.net/projects/verse/
Metasite engineers build and integrate complex financial platforms and applications for financial industry clients in the UK, Switzerland and across EU. They develop solutions for Bank Vontobel, Man Group, Verse (Cash App / Square), Solum Financial, Bond Radar, Equiniti and Swedbank, among others.
Metasite build enterprise-grade digital solutions and financial platforms: online platforms and interfaces, SEPA payments apps, billing and payment systems, portfolio management systems, ESPP solutions, derivatives portfolio valuation and risk modelling platforms, business process automation solutions, middleware and integration modules, market simulation platforms, mobile and desktop web portals and complex data visualisation solutions, to name just a few examples.
Their engineering and design teams breathe Java, .NET, Node.js, Python, React, Angular, TomCat, WildFly, PostgreSQL, Oracle, MySQL, Hadoop, MongoDB, Elasticsearch, Kafka, Cassandra, Impala, Spark, Tableau, Talend and are biased towards open source tech and agile development.
Metasite is Lloyd’s-insured and ISO9001 and ISO27001-certified.