Paysafe Partners with Bankable to Launch Omnichannel Banking Services
Paysafe announced a partnership with Bankable on July 21, 2021, selecting it as its core banking platform to launch omnichannel banking services. Bankable provides API-driven and white-label banking solutions that enable Paysafe to offer comprehensive banking services across multiple channels. The partnership allows Paysafe to extend its payments-focused business into broader banking services by leveraging Bankable's embedded finance infrastructure.
Bankable's platform serves as the back-end banking layer, handling account management and transaction processing. The deal highlights the growing trend of payments companies embedding banking capabilities through BaaS providers rather than building in-house. Financial terms of the partnership were not disclosed.
The collaboration positions both companies to capitalize on increasing demand for integrated digital banking and payment experiences.
- Demonstrates payments companies increasingly embedding banking services through BaaS platforms rather than building proprietary infrastructure
- Strengthens Bankable's credibility as an enterprise-grade BaaS core banking provider