SCA - Strong Customer Authentication in embedded finance
27 Jan 2023

What you need to know about Strong Customer Authentication in embedded finance

As a product manager of a SaaS or mobile application, you’ll already have a constant eye on ways to improve the security and user experience of […]
Banking as a Service vs embedded finance: what’s the difference?
10 Jan 2023

Banking as a Service vs embedded finance: what’s the difference?

As the embedded finance industry grows, a question that often comes up from innovators and digital startup founders is: what’s the difference between embedded finance and […]
Product updates from Weavr
19 Dec 2022

Weavr product updates Dec 2022

Before the holidays, we’ve got a 🧑‍🎄 sackful of recent product updates to share, including instant EUR bank transfers, multifactor authentication features, a new option to […]
14 Oct 2022

6 revolutionary ways embedded finance will help the world of work

From purchasing supplies to paying out salaries, finance is a huge part of the digital workplace. Historically it’s been a domain steeped in paperwork, invoices and […]
15 Aug 2022

6 areas of innovation that are crying out for embedded finance

Wherever money flows through digital platforms, embedded finance can be the game-changer. Once plugged in, embedded finance can speed up payments, automate processes and streamline the […]
Guide

What is embedded finance?
Everything you need to know to supercharge your business.
Download guide
Paystratus Group Ltd 2019-2023, All rights reserved.
Weavr is the trading name for Paystratus Group Limited, a company registered in England and Wales with registration number 11677111 and registered office at 128 City Road, London EC1V 2NX United Kingdom.

The Payment account and Mastercard cards are issued by Paynetics AD (via Paystratus Group Ltd, a Technical Provider of Paynetics AD) with company address 76A James Bourchier Blvd, 1407 Sofia, Bulgaria, company registration number 131574695 and VAT BG131574695, pursuant to license by Mastercard International Incorporated and Bulgarian National Bank.

To ensure your funds are safe Paynetics follow a process known as ‘safeguarding’ which is a regulatory requirement for all EMIs. In this process Paynetics keeps your money separate from its own money and place it in a safeguarding account with a Bank.

Electronic Money issued is not covered by any Deposit Guarantee Scheme which is a government backed scheme offering protection to customers’ funds of up to €100,000 (£85,000 in the UK under the FSCS) per customer. However, in the event of an insolvency, your funds would remain in the safeguarded account at the designated Bank and separated from Paynetics’ accounts.

In the event of Paynetics going out of business, an insolvency practitioner would be appointed to return the funds Paynetics has safeguarded to the customers. This means you would get most of your funds back, except for the costs deducted by the insolvency practitioner for returning the funds to the customers
Read more