FinTech Kevin Teams With Monet+ on in-Store A2A Payments

U.K.-based FinTech kevin has partnered Monet+ to deliver account-to-account (A2A) payments via the Monet+ Switchio platform, the firm announced on its website Friday (Sept. 2).

Switchio by Monet+ works with multiple acquirers to manage millions of transactions each day.

By integrating the FinTech’s infrastructure into the Switchio platform, Monet+ becomes the first company able to offer its clients and partners A2A payments in physical stores, the announcement said.

As stated on the kevin website, A2A payments offer lower transaction costs for merchants. This is because they are able to bypass card networks and reduce the number of intermediaries involved in a payment, as PYMNTS has reported.

Read on: Deep Dive: How Open Banking-Powered Payments Could Offer U.S. Merchants A Reprieve From Interchange Fees

“Monet+ continues to offer great solutions to a digital world, and with Switchio they simplify transactions for plenty of businesses every day,” kevin Co-founder and CEO Tadas Tamošiūnas said in the announcement. “It goes without saying that their technology plays an important role in today’s payment industry. We at kevin. are thrilled to partner with them, offering their clients access to direct and safe end-to-end in-store payments that exclude all the process steps that have developed over time but add no value.”

Switchio Executive Director Kamil Hanáček added, “We’ve seen massive growth in the digitization of payments in recent years. I’m tasked with overseeing the electronic payments division at Monet+, Switchio’s parent company, and we believe that safe and reliable solutions are often built on cooperation between many partners — it’s what allows us to participate in foreign projects.”

“Cooperating with kevin. will open up new doors to several payment possibilities and make the payment experience even more pleasant. Security and reliability are always priorities in our work.”

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