Lithuania’s SME Bank partners kevin. for A2A e-commerce platform
Lithuanian challenger SME Bank has partnered with paytech kevin. to create a “one-stop-shop” for e-commerce business owners.
The combined offering is a unified payment infrastructure enabling account-to-account (A2A) payments across the Baltics, payments into a single business account as well as AI-powered collateral-free revenue-based financing.
kevin.’s A2A payment infrastructure, based on open banking, means payments can be made directly from customers’ bank accounts without using third-party providers.
SME Bank CEO Mantvydas Štareika says: “Our partnership will save owners time, help them grow faster, and reduce costs.”
The payment collection options include an open banking-based Payment Initiation Service (PIS) which enables instant, low-cost and end-user-friendly collections from a majority of consumers with an account at a bank in the European Economic Area (EEA).
Free open banking plugins from major e-commerce providers are also available, including WooCommerce, Prestashop, Opencart, and Magento.
SME Bank Štareika adds: “By partnering with fintech kevin. and its open banking integrations we are combining many things that SME owners need into a single platform: fast payments, significantly reduced transaction costs and ultra-fast, AI-guided finance decisions.”
kevin. CEO and co-founder Tadas Tamošiūnas says the partnership with SME Bank will enable the bank’s clients to “make the most out of open banking” and will help “drive the future of payments”.
Founded in 2018 and based in Vilnius, Lithuania, kevin. has recently raised $65 million in a Series A funding round.