Leading RegTech provider Rivero today announced it has signed a deal with Paymentology, the world’s first truly global issuer-processor.
Under the terms of the agreement, Paymentology will deploy Rivero’s scheme compliance SaaS solution, Kajo, to digitalise its compliance processing requirements and to make it easier to scale with guaranteed quality control for all its compliance needs.
Paymentology provides banks and fintechs the technology, team and experience to rapidly issue and process Mastercard, Visa and UnionPay cards, at a global scale. Through the game-changing partnership, the Kajo solution will be implemented into Paymentology’s tech-stack which processes over 10 billion USD annually for its tier 1 bank and fintech customers in 50 countries.
Deploying Kajo will ensure Paymentology continues its rapid global growth with enhanced compliance capabilities, leading the way in an increasingly complex and highly digitised payments ecosystem.
Commenting on the announcement Michal Jerabek, Chief Product Officer at Paymentology said: “Rules and regulations around compliance are constantly being created in the fintech and banking ecosystem, and it is vital we adhere to them. That’s why it is a key priority for us to ensure we work with a partner that is at the top of their game, like Rivero, which effectively manages the full scheme compliance process.
On review of the availability of technologies on the market, Kajo stood out from other solutions for its comprehensive, tailor-made compliance offering which strengthens our service to our customers. While we continue to scale across the globe, we are reassured that Kajo will support our customers in 50 countries and growing – with a tailor-made solution that serves our compliance needs.”
Rivero had emerged as a leader in simplifying card payment operations for the highly regulated payments industry. Registered and based in Switzerland, Rivero is a privately held company with a strong focus on the payments and card industry. Led by a team of highly experienced payments professionals, the company has filled a gap in the market for quality fraud recovery, dispute management and card scheme compliance solution by leveraging the benefits of SaaS, providing solutions for all players in the card payment ecosystem such as issuers, acquirers, BaaS and fintechs.
Commenting on the agreement, Fatemeh Nikayin, co-founder from Rivero said: “We are excited to onboard Paymentology to our state-of-the-art card scheme compliance platform Kajo, enabling an up-to-date scheme compliance status and reducing the manual work involved with scheme compliance processes.”