Paynet
Paynet Services S.R.L. is a Moldova-based, NBM-licensed electronic money institution operating Paynet Wallet for consumers and Paynet Business for merchants, offering bill payment, EU/UK remittances, a Mastercard debit card, QR acceptance, and a loyalty program to 50,000+ users across the Moldovan market.
- Company typePrivate
- Founded2015
- HeadquartersChisinau, Moldova
- Headcount51–100
- GTM typeB2B and B2C
- OfferingSoftware
What Paynet does
Paynet Services S.R.L. is a Moldova-based electronic money institution, headquartered in Chișinău and licensed by the National Bank of Moldova (E-Money License No. 000586). The company operates two products on a shared infrastructure: Paynet Wallet, the first electronic wallet in Moldova, which lets individual consumers pay utility, telecom, and government bills, transfer money domestically and to EU/UK IBAN accounts, and order a Paynet Mastercard physical or virtual debit card; and Paynet Business, a merchant platform offering QR code (Scan & Pay) acceptance, event ticketing, bulk SMS/email, mass payouts, and a cashback loyalty program, distributed via 150+ partner companies and CMS modules for Shopify, WordPress, Magento, OpenCart, PrestaShop, and CS-Cart.
The technology stack is centered on a mobile-first wallet (iOS and Android apps) with electronic money issuance, card management, NFC tokenization through Google Pay and Apple Pay, and integrations with Moldova's instant payment system (MIA Plăți Instant) and international remittance partners (RIA, MoneyGram). A physical distribution network of 1,000+ post office agencies, 300+ partner shops, 124+ bank branches, and 100+ proprietary terminals provides cash-in/cash-out coverage that is the deepest in the Moldovan market. The Mastercard co-branding arrangement, formalized in 2023, makes Paynet the first Moldovan fintech to issue both physical and virtual debit cards, and was recognized with Mastercard's 2025 Priceless Unity Award.
Paynet monetizes primarily through transaction-based fees: a fixed 10 EUR commission on EU transfers, 10 GBP on UK transfers, 0.5% (minimum 0.95 EUR/GBP) on incoming remittances, merchant acquiring commissions (undisclosed publicly), and ATM withdrawal fees above a 5,000 MDL monthly free threshold. The company serves approximately 50,000+ wallet users and 150+ merchant partners, with 51-100 employees and no disclosed external funding, positioning it as a bootstrapped, regulated domestic issuer with a growing cross-border remittance layer targeting the Moldovan diaspora.
Paynet firmographics
Firmographics- Name
- Paynet
- Legal name
- Paynet Services S.R.L.
- Website
- https://paynet.md
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Paynet Services S.R.L. is a Moldova-based, NBM-licensed electronic money institution operating Paynet Wallet for consumers and Paynet Business for merchants, offering bill payment, EU/UK remittances, a Mastercard debit card, QR acceptance, and a loyalty program to 50,000+ users across the Moldovan market.
- Ownership category
- akta.pro rank
Paynet industry classification
Industry- Product category
- Digital Payments and Mobile Wallet
- SIC
- Finance Services (6199)
- akta.pro primary industry
- QR Code Payments Wallets (FSAMAEAC)
- akta.pro secondary industries
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Alternative Payment Methods (APMs) & Local Rails (ACH/SEPA/UPI, etc.) (CRAFALAG), Merchant Cross-Border Collections (Pay-ins) & Local Payment Methods (FSAGAKAD)
Keywords
Where Paynet is headquartered
LocationHeadquarters
- HQ city
- Chisinau
- HQ country
- Moldova
- HQ region
- Europe
Offices1 record
Markets served
Paynet business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales
Revenue model
- Transfer Commissions: Fees charged for international money transfers to EU/UK. Fixed 10 EUR commission per transfer to EU, 10 GBP to UK. Receipt commission of 0.5% (minimum 0.95 EUR/GBP).
- Payment Processing: Commission from processing payments between merchants and customers through Paynet's payment gateway.
- Merchant Services: Fees for online payment acceptance services for e-commerce businesses, including payment gateway and module integration.
- Cash Withdrawal Fees: Fees from ATM withdrawals and cash-out at terminals. Free withdrawal up to 5000 lei/month.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | EU/UK Transfer - Send |
| Transaction based/ take rate | Pay-as-you-go | EU/UK Transfer - Receive |
| Transaction based/ take rate | Pay-as-you-go | ATM Withdrawal |
| Transaction based/ take rate | Monthly | E-commerce Payment Gateway |
Go-to-market motion3 records
Distribution channels8 records
Marketing channels8 records
Paynet product offering
Product offeringCore offering
Paynet operates an electronic money institution in Moldova providing a consumer e-wallet (Paynet Wallet) for bill payments, money transfers, and Mastercard debit card ordering, alongside a merchant payment platform (Paynet Business) that enables online and QR-based payment acceptance, ticketing, bulk communications, and loyalty program management. Services are delivered under a National Bank of Moldova e-money license and span consumer financial services as well as B2B payment processing for e-commerce and offline merchants.
Product overview
Paynet is a Moldova-based fintech company offering Paynet Wallet (the first electronic wallet in Moldova) and Paynet Business (a merchant payment platform), both operating under a National Bank of Moldova e-money license. Paynet Wallet provides consumers with bill payments, money transfers, physical/virtual Mastercard debit cards, QR code payments, and a loyalty program. Paynet Business enables merchants to accept online and QR payments, generate event tickets, send bulk communications, and manage loyalty campaigns. The two products share the same infrastructure and user base of 50,000+ wallet users, with CMS and payment integrations spanning Shopify, WordPress, Magento, OpenCart, PrestaShop, and more.
Differentiator
Problem solved
Functional benefit
Brands
- Paynet Mastercard: Physical and virtual debit card issued in partnership with Mastercard, allowing payments worldwide including via Google Pay and Apple Pay.
- Paynet Wallet
Products and services
- Paynet Wallet The first electronic wallet in Moldova, enabling consumers to pay utility and service bills, make domestic and international money transfers, order a physical or virtual Mastercard debit card, make QR code payments, and earn cashback from partner merchants. Free registration and onboarding via phone number.
- Paynet Business Merchant-focused payment platform enabling Moldovan businesses to accept online and QR-based payments via Visa, Mastercard, Paynet Wallet, MIA, Google Pay and Apple Pay; generate and sell event tickets; send bulk SMS and email; disburse mass payments; and run loyalty/cashback campaigns. Includes pre-built CMS modules for Shopify (via Cartum), WordPress, Magento, OpenCart, PrestaShop, CS-Cart and Tilda.
- Paynet Mastercard Debit Card Physical and virtual Mastercard debit cards issued by Paynet. Physical cards are delivered free within Moldova; virtual cards are available worldwide. Cards support online and offline purchases, ATM withdrawals (free up to 5,000 MDL/month), Google Pay and Apple Pay tokenization, and can receive salary, social payments, and international transfers (EU IBAN and UK GBP).
- EU and UK International Money Transfers Cross-border money transfer service to and from the European Union and the United Kingdom. Outgoing transfers are charged a flat 10 EUR (EU) or 10 GBP (UK) commission regardless of amount; incoming transfers are charged 0.5% with a minimum of 0.95 EUR/GBP. Coverage includes Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Iceland, Liechtenstein, Norway, Switzerland, and Monaco.
Quantifiable outcome
- Transfer to EU: 10 EUR flat fee regardless of amount
- +3 more outcomes
Companies that use Paynet
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
Paynet technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration19 records
Feature5 records
Paynet partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- MastercardcorePaynet issues Mastercard-branded debit cards (physical and virtual) in partnership with Mastercard, enabling worldwide acceptance.
- MIA (Plăți Instant)coreIntegration with Moldova's instant payment system for real-time money transfers between banks and e-wallets.
- RIA Money TransfercorePartnership for international money transfer services, allowing Paynet users to receive RIA transfers directly to their wallet.
- MoneyGramcorePartnership enabling MoneyGram transfers to be received directly into Paynet wallets in Moldova.
- ShopifycoreFirst fintech in Moldova to offer direct Shopify integration for merchant payment acceptance.
- Google PaycoreNFC payment capability through Google Pay digital wallet.
- Apple PaycoreNFC payment capability through Apple Pay digital wallet.
- Nova PostminorLogistics partner for joint promotional campaigns with Paynet Business.
- CartumminorE-commerce platform partner offering joint promotional bonuses for new online stores.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Paynet competitors and assessment
Company assessmentBroad incumbents
- Stripe: Global online payment processor serving e-commerce merchants. Competes with Paynet Business in merchant payment acceptance for Moldovan online retailers, particularly those selling internationally.
- MoneyGram: Global remittance network with a large pay-out footprint in Moldova. Both a partner (Paynet wallets receive MoneyGram transfers) and a competitor for diaspora senders, with much greater brand and corridor depth.
- RIA Money Transfer: Established cross-border money transfer operator with strong Moldova corridor. Functions as both a partner (Paynet receives RIA transfers) and a competing payout option for diaspora remittances.
Regional players
- QIWI: CIS-focused electronic wallet and payment service provider with similar consumer wallet and merchant acquiring capabilities. Operates across Russia and several CIS markets, providing a regional benchmark for a regulated e-wallet business model.
- Vodafone M-Pesa: Mobile money platform operated by Vodafone across multiple African and emerging markets. Comparable to Paynet as a telco-adjacent digital wallet serving underbanked consumers with agent-based cash-in/cash-out.
Emerging players
- TransferGo: European-focused low-cost remittance fintech with active Moldova and Eastern European corridors. Targets the same Moldovan diaspora senders as Paynet with comparable or lower fees, particularly within the UK/EU corridor.
Direct peers
- MAIB (Moldova Agroindbank): Largest commercial bank in Moldova with its own mobile wallet and digital payments offering. Directly competes with Paynet for Moldovan consumer payment, bill-payment, and merchant-acquiring activity, leveraging deep deposit and salary relationships.
- Wise (TransferWise): Global cross-border payments platform offering low-cost EUR/GBP transfers to Moldova. Directly competes with Paynet's EU/UK IBAN transfer corridor on price, transparency, and diaspora user experience.
- Revolut: Global digital wallet and money-transfer app popular with the Moldovan diaspora in the UK and EU. Competes head-on with Paynet's cross-border wallet and card proposition, especially for diaspora senders.
- Orange Money Moldova: Telco-led mobile money service operated by Orange Moldova. Targets the same Moldovan consumer wallet use cases (top-up, bill pay, P2P) as Paynet and is one of the closest direct substitutes for unbanked and underbanked segments.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Paynet social profiles
Digital presencePaynet compliance and trust
Trust signalCompliance1 record
Paynet financial estimates
Financial estimateRevenue estimate
Valuation estimate
Paynet leadership team
Management profileNumber of profiles
Profiles1 record
Paynet funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Paynet M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Paynet
What does Paynet do?
Paynet operates an electronic money institution in Moldova providing a consumer e-wallet (Paynet Wallet) for bill payments, money transfers, and Mastercard debit card ordering, alongside a merchant payment platform (Paynet Business) that enables online and QR-based payment acceptance, ticketing, bulk communications, and loyalty program management. Services are delivered under a National Bank of Moldova e-money license and span consumer financial services as well as B2B payment processing for e-commerce and offline merchants.
Is Paynet a public or private company?
Paynet is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Paynet founded?
Paynet was founded in 2015. It employs 51 to 100 people.
Where is Paynet based?
Paynet is headquartered in Chisinau, Moldova, in the Europe region.
How does Paynet make money?
Four revenue lines are on record. Transfer Commissions are the primary driver. The others are payment Processing, merchant Services and cash Withdrawal Fees.
Who are Paynet's main competitors?
Broad incumbents on record are Stripe, MoneyGram and RIA Money Transfer. Regional players are QIWI and Vodafone M-Pesa. TransferGo is listed as an emerging player. Direct peers are MAIB (Moldova Agroindbank), Wise (TransferWise), Revolut and Orange Money Moldova.
Does Paynet have an API?
Yes. Paynet provides an API for integrating online payments into eCommerce websites and web services. The service allows customers to make payments using bank cards and electronic wallets through Paynet's web interface. An API documentation package is available for download at https://info.paynet.md/plugin/cms-api.zip. The API supports integration with merchant websites for processing card payments and electronic wallet transactions. Developer documentation is at info.paynet.md/plugin/cms-api.zip.
What industry is Paynet in?
Paynet's product category is Digital Payments and Mobile Wallet. Its primary akta.pro industry code is FSAMAEAC, QR Code Payments Wallets, with a secondary code of FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services. Its SIC code is 6199.