Own Payment License or Dependence on a BAAS provider - how does Verestro solve it?

If you are a fintech provider, there is one single risk of choosing a BAAS partner - long-term dependence on a regulatory license of the partner. We will focus on this topic in this article and explain how Verestro's proposal differs from all other BAAS providers.

At the beginning of your fintech journey, there is usually not enough time to cover all the topics and build every single payment license yourself. In fact, it does not even make sense. Therefore, fintech start-ups and scale-ups usually choose BAAS partners and develop their business with them. 

Such a decision is actually an important risk for every fintech because you start being dependent on BAAS partners. Your customer gets registered to accounts and payment services of your partner and in the long run you are building a serious risk for yourself. Maybe you do not care about this problem at this stage but think of it. It is a super important risk. What can happen:

  1. Your BAAS partner may increase prices and you will have to pay
  2. Your BAAS partner has problems with a regulatory institution and you must follow new rules that regulator is pushing to the payment provider
  3. Your BAAS partner has AML issues and your BIN, your cards are blocked because of other customers

There are many risks. At Verestro, we solve this problem in various ways:

In conclusion, when you choose Verestro, you get long-term stability and a solution to this important risk. Contact us for more details. 



Revision #7
Created 23 June 2024 10:47:02 by Krzysztof Drzyzga
Updated 26 August 2024 13:54:32