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ZEN turns to SIA for payments processing

Source: SIA

ZEN, a newly launched licensed European fintech company, and SIA, a leading European hi-tech company in the payment services and infrastructures sector, controlled by CDP Equity, have announced their partnership to bring ZEN’s innovative digital financial solution to consumers and entrepreneurs in 32 European countries [1], including the UK.

ZEN’s mission is to give consumers and businesses peace of mind in managing their money and shopping transactions. In addition to a multi-currency current account combined with Mastercard payment cards, ZEN offers exclusive benefits, including attractive moneyback or 1-year extension of the manufacturer’s warranty for consumers, as well as lack of chargeback claims for entrepreneurs and payments instantly reaching their account following their clients’ online purchases. ZEN’s offer is available via the online transaction service and the mobile app in a transparent subscription model. Thanks to low costs, latest digital innovations and great user experience, this fintech tool is perfectly suited to managing shopping transactions, especially in the booming e-commerce sector.

ZEN has launched its new online payment cards platform choosing SIA as its technology partner. With this agreement, SIA’s digital infrastructure will manage the processing of transactions made using physical and virtual payment cards issued by ZEN for online and offline payments in over 150 currencies.

The infrastructure will include an advanced service for the fraud prevention and management service and card tokenization services. Consequently, as from now, ZEN clients will be able to add their own card to their Apple Pay and Google Pay wallets.

“As an entrepreneur, I have encountered many challenges while managing my finances with traditional banking solutions. This experience has made me realize that there are more people like myself, who need a comprehensive, digital suite, which gives peace of mind in terms of managing money and shopping transactions. ZEN is inspired by the culture of the Far East, where the concept of Zen means feeling of security and control. Our acronym for ZEN - zero-effort non-bank - stands for helping our clients manage their finances effortlessly. We are aware that to be successful, fintech companies need to scale their business internationally and this is why we partner with trusted providers such as SIA, to create advanced financial
[1] Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom
solutions, designed to meet the needs of contemporary consumers and entrepreneurs across Europe” said ZEN’s founder, Dawid Rozek.

“We are particularly proud of our agreement with ZEN, which confirms our role as a trusted technology partner also for fintech companies acting across a number of European markets, where we are already supporting banks and other financial institutions to further accelerate the development of digital payments. We are confident our proven competence in payments systems and the e-money sector, together with our capabilities in leading the innovation, are a perfect combination for ZEN’s success” stated Eugenio Tornaghi, Marketing & Sales Director at SIA.

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