Latvian Startup Swipe.lv Democratises Acceptance of Payment Cards
11-Aug-2015 / Products & Services Swipe.lv payment service has started operating in Latvia, allowing for creating invoices for goods and services, sending them by e-mail or SMS and accepting payments by Visa and MasterCard. The next day, funds are transferred to accounts at any Latvian bank.
Swipe.lv is an illustrative and rare example of an intellectual business established in Latvia in the field of financial services. Currently, it is one of a kind in Latvia, both with regard to its convenience for small and medium businesses and pricing.
It is also notable that Swipe.lv is a startup. Not long ago, in April, its organisers participated in the first international startup competition in Latvia, Rietumu FinTech Challenge by TechHub Academy, and they now provide full-rate services for customers.
As previously reported, the startup competition was held with the support of Rietumu Bank. Its participants were young companies operating in the field of fintech. Following the competition results, Rietumu Bank and DECTA Processing Centre offered their support to fintech startups in the development stage, including free bank account services and acceptance of online payments by MasterCard and Visa. There was also a separate decision taken to support Swipe.lv’s initial implementation on the bank’s platform.
“There were many interesting projects at the competition, but finally we selected Swipe.lv. This is the service which businesses need today and will need even more tomorrow”, said Member of the Board of Rietumu Bank Eugene Dugaev. “Therefore, we decided to support this startup and offered the resources and competence of the bank for its launch. We undertake the solution of routine but required issues, so that young entrepreneurs can focus fully on the development of their idea”.
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