Clearhaus provides payment rails for PaynoPain
Clearhaus, the Danish merchant acquiring fintech, has partnered with PaynoPain, an online payment tools provider, to provide the payment rails for some of the Spanish firm’s transactions across Europe.
“We believe our collaboration will clearly benefit Spanish online stores,” PaynoPain’s CEO, Jordi Nebot, says in a statement.
Both companies entered the market in 2011 with a similar focus on transforming the then payment infrastructure with application programme interfaces (APIs).
PaynoPain’s payment gateway product, Paylands, has helped small businesses to start selling online, whilst its e-wallet CHANGEiT aims to be the “first step to bankarise population[s]” in developing countries such as the Bahamas and the Dominican Republic.
The Spanish fintech, which says it processed 36 million transactions in 2019, also offers tools to store user data so it does not have to be re-entered on checkout, and to manage instances of lost carts. In Spain, the fintech even offers payment on public transport.
Clearhaus serves more than 13,000 online businesses across 33 countries, allowing online merchants to accept payments from Visa and MasterCard in one to three days, and was the first in Denmark to offer Apple Pay and Google Pay as payment methods to these merchants.
The Danish merchant acquirer is already active in the Spanish payment scene, but its footprint in this market is still smaller than the one it holds in its home markets across the Nordics. The firm says 30 million of Spain’s 47 million population are online consumers, so its partnership with PaynoPain will drive its strategy to expand engagement in the Iberian Peninsula.
The new partners are yet to physically meet due to the lockdown and travel ban measures imposed by lockdown.
“In spite of the geographical distance, PaynoPain and Clearhaus come from the same place. We are young, technology-focused fintechs wanting to improve the payment industry to the benefit of businesses and consumers,” Clearhaus’ CEO Claus Methmann Christensen says in a statement.