What Paynovate does

Paynovate SA is a Belgian-licensed Electronic Money Institution founded in 2018 and headquartered in Brussels (Cantersteen 47, B-1000 Brussels), operating as a wholly-owned subsidiary of Loyaltek Group. The company provides an integrated payments, accounts, and card infrastructure platform for businesses with complex money movement needs, fintechs requiring licensed rails, and platforms embedding financial services. Its product suite spans online and in-person payment acceptance, multi-currency IBAN business accounts, Mastercard and Visa card issuing, IBAN and card programs for distribution partners, plus an Embedded Finance (BaaS) platform and a White-label Solution — distributed via direct enterprise sales, a POS partner network, and a reseller program, with the MyPaynovate portal serving existing clients.

The technology stack rests on National Bank of Belgium EMI licensing, PSD2 registration, PCI DSS certification, GDPR compliance, and KYB plus ongoing transaction monitoring, with safeguarded client funds. In 2025 Paynovate processed €3.4 billion in acquiring volume, issued nearly 2 million cards, and activated 149K+ POS terminals across its partner network, demonstrating operational scale for an 11–50-employee organization.

The business model is a combination of transaction-based fees (payment processing and card issuing), subscription/recurring fees for IBAN account services, and hardware-related revenue from POS terminals, priced on a quote-based, consultative basis tied to merchant risk level and transaction volume. Distribution is hybrid — direct enterprise field sales complemented by channel partners — and customer segments span direct merchants, fintechs seeking licensed infrastructure, platforms embedding finance, and resellers/POS partners reaching mid-market merchants. The company markets itself in English, French, and Dutch across Belgium and broader European markets, with no disclosed external funding rounds.

Name

Paynovate

Legal name

Paynovate SA

Website

https://paynovate.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Paynovate SA is a Belgian-licensed Electronic Money Institution providing integrated payments, IBAN accounts, and card issuing infrastructure to businesses, fintechs, and platforms across Europe, with embedded finance and white-label solutions under Mastercard and Visa sponsorship.

Ownership category

akta.pro rank

Product category

Payment Infrastructure / Banking-as-a-Service

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Credit Card Issuing (522210)

SIC

Finance Services (6199)

akta.pro primary industry

Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)

akta.pro secondary industries

Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN), Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), EMV Chip, Magstripe & PIN Debit Acceptance (FSAMADAG)

Keywords

• Embedded finance infrastructure
• Payment processing services
• Card issuing programs
• B2B payment solutions
• Licensed e-money institution

Headquarters

HQ city

Brussel

HQ country

Belgium

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Payment Processing Fees: Transaction fees charged to merchants for processing payment transactions both in-person and online. Revenue generated per transaction processed through the platform.
2. Card Issuing Services: Fees associated with issuing and managing card programs for businesses, including virtual and physical card issuance under Mastercard and Visa licenses.
3. IBAN Account Services: Fees for providing business IBAN accounts and associated banking services including money management and transfers.
4. Terminal and POS Services: Revenue from POS terminals activated across the partner network, including terminal-related services and support.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Paynovate is a licensed Electronic Money Institution that provides a single regulated platform combining payment acceptance (in-person via POS terminals and online via gateway), multi-currency business IBAN accounts, and Mastercard/Visa card issuing programs. It offers white-label and Banking-as-a-Service (BaaS) infrastructure that enables fintechs, SaaS platforms, and resellers to embed accounts, cards, and wallets into their own products under Paynovate's Belgian regulatory license.

Product overview

Paynovate is a modular fintech platform providing payments, accounts, and card infrastructure through a single regulated partner. Its core product suite consists of Online Payments, In-person Payments, IBAN Accounts, Card Issuing Program, and IBAN Program, which can be used individually or combined. At the platform level, it offers Embedded Finance Infrastructure (BaaS) and a White-label Solution for fintechs and platforms seeking to distribute financial services under their own brand. Partner programs (POS Partners and Reseller Program) extend distribution through channel relationships. The MyPaynovate portal provides clients with transaction reporting and document management. The overall architecture is a platform-plus-modules model, where the licensed e-money infrastructure (regulated by the National Bank of Belgium) serves as the foundational layer supporting all products.

Differentiator

Problem solved

Functional benefit

Products and services

• Online Payments Enables businesses to accept card and alternative payment methods for e-commerce and online transactions through Paynovate's integrated payment gateway.
• In-person Payments Enables businesses to accept payments at physical retail locations via Paynovate's POS terminals, supporting contactless, chip, and swipe transactions.
• IBAN Accounts Provides business IBAN accounts enabling companies to hold, manage, and transfer funds across European markets with multi-currency support.
• Card Issuing Program Allows businesses to issue physical and virtual Mastercard and Visa-branded cards to employees, customers, or partners under Paynovate's licensed program.
• IBAN Program Enables fintechs and platforms to white-label and distribute IBAN account capabilities under Paynovate's licensed e-money infrastructure.
• Payment Services A unified business offering combining accepting, moving, and managing money through one platform, covering both online and in-person payment acceptance plus account management.
• Embedded Finance Infrastructure (BaaS) Provides licensed e-money infrastructure for platforms and SaaS companies to embed accounts, cards, and wallets into their products without building their own financial rails.
• White-label Solution Allows fintechs and businesses to launch branded payment services, including cards, accounts, and wallets, on top of Paynovate's licensed infrastructure without building from scratch.
• POS Partners Program Partner program enabling POS hardware partners to integrate and offer Paynovate's payment acceptance services to merchants in their network.
• Reseller Program Allows resellers and referral partners to add regulated payment solutions to their client portfolio, generating new revenue streams through Paynovate's licensed infrastructure.
• MyPaynovate A customer-facing portal providing access to transaction histories, payment reports, and document management for Paynovate business clients.

Quantifiable outcome

• €3.4B acquiring volume processed in 2025
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Loyaltek GroupcoreStrategic or Co-development PartnerPaynovate is a company under the Loyaltek Group. The parent company provides strategic oversight and integration with broader payment technology ecosystem. Loyaltek Group operates as the parent organization supporting Paynovate's payment services and infrastructure.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Mollie: Mollie is a European payments and merchant-services platform offering online and in-person payment acceptance, multi-currency accounts, and merchant financing. It competes directly with Paynovate in the SME and platform segment across Benelux and broader EU, with a similar horizontal product surface.
• SumUp: SumUp provides small-business card readers, POS terminals, and merchant acquiring services across Europe. It competes directly with Paynovate's in-person payments and IBAN-adjacent offerings for SMEs and is similar in scale of terminal footprint.
• ClearBank: ClearBank is a UK-based clearing bank offering embedded banking, real-time payments, and BaaS infrastructure. It provides comparable rails to Paynovate for fintechs and platforms seeking regulated payment infrastructure.
• Solaris SE: Solaris is a German licensed banking-as-a-service provider offering embedded finance, IBAN accounts, card issuing, and payments APIs. It is one of Paynovate's closest Europe-based BaaS peers, targeting fintechs and platforms with white-label banking products.
• Marqeta: Marqeta is a card-issuing API platform enabling businesses to launch and manage debit, credit, and prepaid card programs. It is directly comparable to Paynovate's card-issuing program infrastructure for fintech and platform customers.
• Trust Payments: Trust Payments is a global payment service provider offering merchant acquiring, BaaS, and card programs with strong European coverage. It competes with Paynovate for merchants and platforms needing unified payments, accounts, and card-issuing infrastructure.
• Treezor: Treezor is a French licensed e-money institution providing BaaS capabilities including account creation, payment issuance, and card programs to fintechs. It is a direct competitor to Paynovate in European BaaS/embedded finance, with a similar regulatory model.

Broad incumbents

• Worldline: Worldline is one of the largest European payment service providers offering merchant acquiring, payment processing, and digital banking services. It is a broader incumbent that overlaps with Paynovate's acquiring and BaaS/financial services business, especially across Benelux and the wider EU.
• Stripe: Stripe is a global payments infrastructure provider with embedded finance capabilities (Stripe Issuing, Stripe Treasury) and a developer-first API. While much larger and broader than Paynovate, it competes for the same BaaS, card-issuing, and platform-embedded-payments customers across Europe.
• Adyen: Adyen is a global payments processor offering unified online, in-person, and platform-based payment processing for large enterprises. Although it focuses on higher end of the market than Paynovate, it competes for the same merchant acquiring and platform-payments wallet in Europe.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/paynovate

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paynovate