Fintechs collaborate with traditional bank to bring better services to consumers and businesses 

Vivid - the Berlin-based financial platform for investing, banking and saving - and ECOMMPAY - a leading international payment service provider with its own fintech ecosystem for business growth - have today announced a partnership to allow instant Visa and Mastercard card top-ups through Vivid as part of a bespoke mobile-first full-service banking solution. The new banking features will optimise Vivid’s cash flow, making moving money more efficient and convenient. 

This partnership offers consumers across Europe with Vivid’s IBAN accounts access to funds instantaneously, meaning they no longer need to wait days to receive funds via wire transfer. The convenient top-up experience is now available for Vivid’s 100,000+ customers across Germany, France, Italy, and Spain, and is underpinned by ECOMMPAY’s data-driven payments technology, which has been tailored to provide strong customer authentication and security measures that are fully-compliant with PSD2 requirements. All top-ups are enabled in collaboration with Solarisbank AG, which is regulated by the German regulator BaFin. Deposits are covered by the German Central Bank’s Deposit Guarantee Scheme. ECOMMPAY will also enable Vivid users with access to Apple Pay and Google Pay - offering convenience that is 3DS compliant and helping meet consumer demand for mobile payment methods.

By working with ECOMMPAY, Vivid will be able to boost its expansion efforts across the EU as it benefits from enhanced customer experience features, security measures, and comprehensive risk management, through a single, unified integration.

This trailblazing collaboration sees three organisations - leading European fintechs, neobanks, and a traditional bank - partner across various jurisdictions, adhering to regulatory requirements, and uniting new functionalities and data-driven technologies into one process to expedite Vivid’s growth, and offer businesses and consumers the latest banking innovations. The secure payment solution uses ECOMMPAY’s bespoke financial technology and Solarisbank’s German banking license to prioritise convenience and security for the user experience. This non-standard model of cooperation between leading fintechs and a traditional bank under complicated regulatory conditions is pioneering in pursuit of customer success. The partnership marks the beginning of a tech collaboration that will lay groundwork to provide further payment options - such as cashback programs, sub-accounts in foreign currencies, and investment products - as well as expand the offering outside the EU to offer international payment methods for top-ups.

Vladimir Polakov, Head of Sales Force Division at ECOMMPAY, comments: “We at Ecommpay think that there is nothing impossible. Some tasks are simply more complicated than others when growing businesses such as Vivid’s. We pride ourselves on taking action on non-standard business goals and challenges, to find unique and collaborative solutions that change the face of the financial ecosystem. This direct to card top-up option wouldn’t have been possible without the collaboration of leading tech innovators in the financial industry. By putting the end-user first we’ve created a payment option that provides both security and speed.”

Alexander Emeshev, co-founder and CEO of Vivid Money, comments: “This partnership marks a huge step forward for Vivid card users as we continue our pursuits in building a European financial super app. This is the next logical step in offering our account users the capabilities to send, receive, spend, invest and save money in different ways as we scale. Vivid card users get all the benefits of a German IBAN account without having to compromise their personal banking requirements or business necessities across Europe. The arrangement with Visa and Mastercard is as unique as our cards, offering consumers and businesses access to funds instantaneously.”