OpenPayd at Pay360: The Future of Embedded Payments
In an exclusive interview with FinTech Magazine at Pay360, OpenPayd CEO Iana Dimitrova shared insights on navigating the evolving payments landscape and the critical factors for successful embedded payments implementation.
In an exclusive interview with FinTech Magazine at Pay360, OpenPayd CEO Iana Dimitrova shared insights on navigating the evolving payments landscape and the critical factors for successful embedded payments implementation.
Trust and Compliance: The Foundation
As regulatory expectations increase across the fintech sector, Iana emphasises that trust and safety remain paramount considerations.
"We manage people's money, and therefore building trust, safety and resiliency is very important," says Iana.
"Over the last few years, there has been an increase in the level of regulation and in the FCA's expectations regarding compliance and the control framework that businesses like ourselves need to have in place."
This regulatory landscape creates both challenges and opportunities for payment providers and the businesses they serve.
For OpenPayd, maintaining robust compliance while enabling seamless payment experiences has become a core differentiator in a crowded market.
"Ultimately, it [embedded payments] starts with whether you build it yourself, in-house, or you buy. This is the first question that any business needs to answer"
The Make or Buy Decision
When it comes to implementing embedded payments, businesses face a fundamental strategic choice that can significantly impact their growth trajectory.
"Embedded payments are probably the single most important factor for the success or failure in scaling and growing a business," Iana states.
"Most digital businesses today are interested in not servicing one market in one economy. They're looking to trade on a cross-border basis."
For organisations navigating this complex landscape, Dimitrova offers clear guidance on the primary decision they must make:
"Ultimately, it starts with whether you build it yourself, in-house, or you buy. This is the first question that any business needs to answer."
Her recommendation, however, is unequivocal: "Building embedded payments, unless you are incredibly sophisticated from a regulatory, legal and compliance perspective and incredibly well-resourced from a technical perspective, is a mistake. I would not recommend this to anyone."
Powering Global Commerce
OpenPayd has positioned itself as an enabler for businesses with international ambitions, adapting its offerings to meet evolving market demands.
"Our mission is to power the growth of the digital economy, and we focus on helping businesses move and manage money globally," explains Iana.
"The way that we do that is actually evolving our own product offering with the demand that is out there, building embedded payments solutions that truly meet the needs of businesses operating in multiple jurisdictions."
With cross-border commerce becoming the norm rather than the exception for digital businesses, the ability to facilitate seamless international payments has become a critical competitive advantage.
For businesses weighing their options in the global payments market, the choice between building or buying payment infrastructure has significant implications for their speed to market and regulatory exposure.
Exploring OpenPayd
OpenPayd is a global payments and banking-as-a-service platform that enables businesses to integrate complex financial services into their products.
Founded in 2015, the London-based fintech provides digital businesses with access to a comprehensive suite of banking and payment solutions through a single API integration.
OpenPayd's infrastructure supports instant accounts, FX, international and domestic payments, and card processing capabilities across multiple currencies and jurisdictions.
The company holds regulatory licences in the UK, Europe, and North America, allowing it to serve clients ranging from marketplaces and gig economy platforms to crypto exchanges and digital banks.
OpenPayd's technology is designed to eliminate the traditional complexities of cross-border payments while maintaining robust compliance standards.
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