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 […]
16 Jun 2022

Why embedded finance enables solutions to what’s never been solved before

Embedded finance and integrated finance services are shaking up the way finance is seen, delivered and accessed in the digital world. Whether it’s making payments flow […]
12 May 2022

Is Plug-and-Play the next leap forward for embedded finance?

Embedded finance has developed quickly over the past few years and we’d go as far to say that it was the buzzword of 2021. As new […]
Guide

What is embedded finance?
Everything you need to know to supercharge your business.
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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
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