Quantoz Payments B.V. has unveiled its latest innovation, the Embedded Payment Services, a versatile API-driven platform crafted to help fintech companies, digital platforms, and payment providers integrate digital payment systems, accounts, wallets, and compliance features seamlessly into their offerings. Potje, a Dutch group savings application, is the first to implement this new platform, allowing collective saving towards common goals among friends, family, and colleagues.
This development marks a significant expansion for Quantoz Payments beyond their traditional e-money token offerings. The new platform is designed to streamline the creation of payment and settlement solutions within European markets by providing APIs and infrastructure. It simplifies the integration of essential payment components while minimizing the challenges associated with licensing, compliance, safeguarding, and operational infrastructure.
The Embedded Payment Services by Quantoz leverage blockchain-native technology, enabling partners to customize and scale their payment solutions according to specific needs. Key features include the setup of accounts and digital wallets, facilitation of inbound and outbound payments, Pay by Bank functionality, and robust fraud, risk, and compliance processes. Potje, having collaborated closely with Quantoz during development, is now operational on the platform.
With this integration, Potje ensures that user funds are securely managed under the supervision of the Dutch Central Bank through Quantoz Payments. Users can effortlessly add funds using a Europe-wide Pay by Bank service, with the flexibility of instant payouts and withdrawals. Potje’s CEO, Bastiaan Reurink, highlighted the partnership’s goal of simplifying and securing group savings, enhancing their vision of becoming a leading group money account across Europe.
According to Arjen van Klaarbergen, the Chief Legal Officer of Quantoz Payments, the new service equips fintechs and platforms with regulated digital-money infrastructure, eliminating the need for them to establish their own compliance and payment operations. Operating under its existing regulatory framework, Quantoz is licensed as an Electronic Money Institution (EMI) in the Netherlands and adheres to European regulatory standards for safeguarding e-money. The Embedded Payment Services are accessible to fintechs, platforms, and payment service providers throughout the European Economic Area (EEA).
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