Unzer: From PSP to Turnkey SaaS Solutions Provider

FinTech Magazine tracks the growth journey of Unzer, the turnkey SaaS solutions and embedded payments provider, that has evolved in recent years from simply being a payments service provider (PSP).

Responding to dramatically changing shopper experiences and expectations, Unzer has evolved to address this trend and power personalised services and seamless shopping experiences. 

Across three years, Unzer has acquired several specialist payment companies, to offer merchants the entire value chain of payment transactions from a single source—from online checkout to in-store mobile POS systems and final settlement, whether customers shop online, via mobile or in-store.

We speak to Niv Liran, Chief Product and Technology Officer at Unzer, who details Unzer’s path to developing a platform that consolidates data in real-time while catering to the software needs of its merchants, providing a seamless shopping experience for end-consumers.

Unzer: Scaling from PSP to SaaS provider in three years 

In the autumn of 2020, Unzer embarked on a journey to consolidate its various companies and their separate platforms into one unified and modern payment system, known as UnzerOne.

“Before this initiative, each entity within Unzer operated independently, creating a great opportunity for consolidation and value creation,” says Niv. “The vision was to centralise resources and leverage the best features and modules of each platform, to create a robust, comprehensive solution.”

Indeed, by evaluating existing systems for duplicity, Unzer was able to integrate feature-rich and technically superior modules, resulting in a platform that is greater than the sum of its parts. 

“This integration process ensured that UnzerOne not only met but exceeded industry standards for compliance and information security,” Niv adds, “maintaining standards by enabling frameworks rather than seeing them as obstacles.”

Creating UnzerOne, the company went live with its new SaaS offering in 2022, marking a significant milestone in the fintech’s history. 

Unzer: Enhancing payments for merchants and customers 

One and a half years after the launch of UnzerOne, the fintech now provides a comprehensive ecosystem that covers all aspects of the retail journey. 

“For instance, today, a hairdresser can manage appointments, sales and staff, and get paid online and in-store through Unzer’s integrated systems, enhancing both customer experience and operational efficiency,” Niv explains. 

As a modular platform, UnzerOne integrates sales, payments and product data into a cohesive system, allowing merchants to manage operations more efficiently.

From inventory and order tracking to understanding customer preferences through a dashboard, merchants can save time and cost, while customers can benefit from a more seamless shopping experience regardless of their shopping and payment methods.

“When completed a lot of work internally too,” adds Niv, “to streamline operations, automating processes, reducing technical setup costs and lowering operational expenses, setting a foundation for continued efficiency and effectiveness.”

An ecosystem transition

“Despite the progress, challenges remain,” Niv notes. “Attracting and retaining top talent in a competitive market is crucial, as tech people with a background in payments are highly sought-after. 

“Additionally, migrating existing merchants to the new UnzerOne platform is essential for us. Unzer addresses these challenges by prioritising migrations without causing disruptions for merchants.”

In the coming months and years, Unzer plans to expand its technological infrastructure as well as its products and services. This strategic expansion includes specialised software for both physical point-of-sale transactions and e-commerce solutions.

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