digital payment solutions Paynovate SA (Belgium) is an electronic money institution authorized and regulated by the National Bank of Belgium. Paynovate is focused on digital payment solutions. The company offers business IBAN accounts, business payment cards, payment terminals, card issuing, payment acquiring, card payment acceptance, account-to-account payments to merchants, entrepreneurs, SMEs. In 2023 Paynovate SA had total assets of 136.79 mln EUR, and generated net income of 646,581.00 EUR.
European Economic AreaEmbrace the speed and simplicity of accepting payments securely and effortlessly with our cutting-edge solutions
A single platform to process all your payments in the best possible way
Greater transparency, compliance and enhanced security
Issuing, acquiring, IBAN accounts, terminals
A unique system to facilitate all your money transfers
Full access and visibility to all your payment transaction through a single dashboard
(*)as stated by the company itself
13 August 2024, by Anna Mileiko
TheBanks.eu has developed a proprietary methodology to assign ratings to payment institutions based on their operating environment, company background, business model, market niche, product range, transparency, customer support and customer sentiment. According to the methodology, Paynovate SA is assigned the overall rating 3.79 (good) which is explained in details below.
| Operating Environment | Friendly | (3.95) |
| Product Range | Very Broad | (4.94) |
| Market Niche | Average | (3.05) |
| Company Background | Strong | (3.55) |
| Customer Support | Average | (2.67) |
| Customer Sentiment | Poor | (1.87) |
| Transparency | Low | (1.85) |
| Overall Rating | Good | (3.79) |
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TheBanks.eu has also identified the following pros and cons of the company:
Web Interface
Mobile AppReseller Agreement. A private reseller agreement is signed between Paynovate and the company.
Agent License. A private reseller agreement is signed between Paynovate and the company. Paynovate assists the company in obtaining agent license from the National Bank of Belgium.
Paynovate do not conduct operations with cryptocurrencies.
| EUR | 2022 | 2023 | change (%) |
|---|---|---|---|
| Total Assets | 37,520,918.00 | 136,788,256.00 | +264.57% |
| Net Income | 558,421.00 | 646,581.00 | +15.79% |
| Rank | Name | Market % | Total Assets |
|---|---|---|---|
| 2 () |  PPS EU SA | 40.12 % | 667.71 mln EUR (+27.38%) |
| 3 () |  Fimaser | 10.58 % | 176.01 mln EUR (+7.21%) |
| 4 (+1) |  Worldline Financial Solutions NV SA | 4.80 % | 79.90 mln EUR (+10.12%) |
| 5 (+1) | Paynovate SA | 2.25 % | 37.52 mln EUR (+54.19%) |
Belgium
Paynovate SA is authorized by the National Bank of Belgium as a e-money institution for issuance of electronic money, distribution and redemption of electronic money, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions; the authorization was granted on 26 March 2019.
Paynovate SA is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, Paynovate is required to safeguard its customers’ money.
Due to EEA passport rules Paynovate SA, can conduct its activities in any of the 30 EEA member states.
Paynovate SA is a SWIFT member and a SEPA (SCT, SCT Inst, SDD, SDD B2B) scheme participant.
Paynovate SA is connected to Visa payment card scheme.
Cantersteen 47, 1000, Brussel, Belgium
+32 (0)2 808 07 58
English
United Kingdom
Germany
Lithuania
Lithuania
Ireland
IrelandNo. Paynovate SA is not a bank, but an electronic money institution authorized and supervised by the National Bank of Belgium.
In 2022 the company became 5th largest e-money institution in Belgium with market share - 2.25 %.
Its SWIFT code is PAYVBEB2 where
PAYV - institution code
BE - country code (Belgium)
B2 - location code
