You’re at a cafe, enjoying your overpriced latte, and it’s time to pay. You pull out your phone, tap it against the reader, and voilà—payment complete.
Living in the 21st century has its perks, especially when it comes to paying for stuff. Remember when you had to carry cash or, heaven forbid, a checkbook? Thankfully, those are becoming distant memories. Today, we’re living the good life.
But the thing is, all this seamless convenience doesn’t happen by accident. Behind every effortless tap and swipe, there’s somebody who, at some point, had a brilliant idea, and then a bunch of talented people went ahead and implemented it.
Lucky for us (and you), we peeked behind the curtain and chatted with one company that’s making payment processing faster than a teenager swiping on TikTok.
At this year’s edition of UNCHAIN, we had the pleasure of talking with Ciprian Pirv, Country Managing Director at Payten Romania. We’ve found out more about Payten’s impact on the CEE ecosystem and how it contributes to the world of digital transactions.
Because if there’s one thing we can all appreciate, it’s a payment process that just gets out of the way and lets us live our lives.
The Dual Demands of Banks and Merchants
In fintech, one size does not fit all. Payten understands this better than most, balancing the often competing needs of their two main customer segments: banks and merchants. Ciprian shared some candid insights on how the company navigates deals with it:
For the banks, they are usually looking for solutions that can provide them with an efficient way to deal with their merchants and with their end customers in a reliable, user-friendly, and secure manner.
Ciprian Pirv
To keep things running smoothly, Payten is collaborating with big hardware vendors like Diebold Nixdorf for ATMs and Ingenico, Sunmi, and Newland for POS systems. This means that banks have access to reliable technology that meets stringent security standards, such as PCI DSS compliance and GDPR regulations.
Merchants, on the other hand, have a different set of priorities.
Merchants are more focused on cost, reliability, and efficiency.
Ciprian Pirv
And who can blame them? Merchants are on the front lines, dealing with us, impatient customers who just want to pay and go. But the company’s got their back.
By giving them more control over their payment setups, they’re not just streamlining processes—they’re giving merchants the power to connect with multiple banks and even switch up transactions if one bank’s having a bad day. More options mean fewer headaches, and who doesn’t want that?
This flexibility is important, especially for merchants in regions like Romania and Croatia, where owning their payment infrastructure rather than relying entirely on banks is becoming a trend.
So, while most companies are still trying to figure out which side to play for, Payten’s catering to both banks and merchants without breaking a sweat.
Even though banks are our main customers, the merchant space is the new growth engine.
Ciprian Pirv
The Future of Payments – More Options, Greater Flexibility
As the payments industry evolves, Payten’s strategy evolves, too. With new payment methods popping up left and right, the company is giving people more ways to pay.
We are preoccupied with increasing the accessibility of payments, giving users as many options as possible to exercise their rights to buy products in any channel and environment.
Ciprian Pirv
This approach includes methods like instant payments and account-to-account transfers, which are gaining traction across Europe.
At the European level, there is more interest towards instant payment and account-to-account payment. We are seeing this being implemented in Romania, but not only.
Ciprian Pirv
Pirv also hinted that Payten is already ahead of the curve, setting up to be the first to bring these options to the merchant POS systems in their markets.
When it comes to AI (a favorite trend among fintech companies), Payten’s not biting—at least, not yet.
AI is a hot topic, but we are more testing and understanding where AI can fit in our payments ecosystem.
Ciprian Pirv
They’re cautious, and rightfully so—new tech can be exciting, but you don’t want to rush into anything unproven. Instead, Payten’s sticking to what they know best—solid, reliable, and efficient technology that works.
When it comes to the future, Payten does more than just react to changes in the payment landscape.
We are ready from a technological point of view to accept whatever the customer is inclined to pay with, to make purchases in any channel as open and as accessible as possible.
Ciprian Pirv
They’re not waiting for the next big thing—they’re ready for it, whatever it may be. And in a world where payment preferences can change faster than the weather, that’s exactly the kind of flexibility that keeps them ahead..
