Unlimit and PayWings Join Forces to Empower Next-Gen Digital Payments

  • Payments
  • 28.06.2023 11:15 am

Unlimit, the London-based global fintech pioneer, and PayWings, a versatile digital payments platform, have joined forces to create a cutting-edge digital payment solution catering to both B2C and B2B markets. Unlimit is an award-winning global all-in-one fintech offering advanced payment capabilities through an evolving financial interface to startups and businesses across the globe with 16 offices across four continents. With PayWings' ambition to issue 1.5 million HOPPA! Cards by the end of 2023, this partnership is set to revolutionise the way individuals and businesses transact.

By leveraging Unlimit's powerful Banking-as-a-Service (BaaS) API, PayWings will provide users with a full-fledged IBAN account and their ground-breaking HOPPA! Card, available in physical, virtual, and digital formats. This collaboration will enable the integration of a comprehensive suite of features, including salary payments, contract payments, travel expenses management, and on-demand account and card issuance for large enterprises. PayWings' platform, empowered by Unlimit's API, will also allow other fintechs to offer tailored solutions through a co-brand program.

As traditional banking continues to recede, the neobanking market is skyrocketing. For example, the size of the neobanking market grew globally from $79.1 billion USD (£63.4 billion) in 2022 to $118.51 billion USD (£95.5 billion) in 2023. According to Statista as of January 2023, the six app-only digital banks currently in existence had more than 80 million app downloads combined. The partnership between Unlimit and PayWings exemplifies their commitment to addressing the ever-evolving consumer and business demand for inventive financial solutions and coincides with the evolution of the banking industry.

Commenting on the partnership, Jovi Overo, Managing Director BaaS at Unlimit said: 

"We are thrilled to join forces with PayWings. Both companies share a vision for the future of fintech, and this collaboration will drive innovation in the industry. The HOPPA! Card offers consumers an unmatched payment experience, and PayWings' commitment to Web3 reflects Unlimit's core values. We look forward to a prosperous and successful partnership."

Adding their comments on the new partnership, Igor Lavrih, CEO at PayWings Holding said:

"At PayWings, we are delighted to announce our strategic partnership with Unlimit. This collaboration joined with the HOPPA! Card and the PayWings platform is set to revolutionise the digital payment landscape and cater to both B2C and B2B markets. As we commence this exhilarating venture with Unlimit, our confidence in our mutual vision for fintech's future grows, and we eagerly anticipate a fruitful and triumphant partnership."

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