Swiss Fintech Firm Swiss4 Teams Up with Marqeta for Payments in Luxury Markets

Source: finance magnates, Tuesday 02/07/2024 | 16:50 GMT

  • The collaboration aims to meet the rising consumer demand for personalized financial services.
  • Swiss4 has also launched an application that integrates multi-currency accounts, payment, and foreign exchange facilities.

Swiss fintech company Swiss4 has collaborated with Marqeta to enhance personalized payments in the luxury market consumer segment. This collaboration combines Swiss4’s services in European digital finance with Marqeta’s card-issuing technology in payment services.

Enhancing Personalized Payments

Established in 2020, Swiss4 is licensed by the Swiss Financial Market Supervisory Authority. Recently, the firm launched a financial services application that merges multi-currency accounts, payment, and foreign exchange facilities with exclusive lifestyle management services.

According to the press release, the new offering provides real-time, personalized digital payment services to its customers. The collaboration between Swiss4 and Marqeta comes at a time when consumer demand for personalized financial experiences is on the rise. A recent survey indicated that over half of 25-34-year-olds prefer using financial products from their favorite brands over traditional banks, citing better convenience and tailored offerings.

Speaking about the new partnership, Zhina Asmei, the Co-founder and CEO of Swiss4, mentioned: “We sought out a partner that was experienced not only in the Swiss market, but also across Europe, and could support our future expansion plans when the time comes. Marqeta is a trusted solution that can meet our requirements for a flexible, scalable, and personalized offering with the latest capabilities that our customers are seeking.”

Swiss4’s application serves as a digital wallet that allows users to organize leisure activities, access exclusive cultural and sports events, and receive personalized recommendations in a unified platform.

Expanding Services in the Swiss Market

Meanwhile, more companies are expanding their services in the digital asset sector in the Swiss market. Last year, Zondacrypto, a cryptocurrency startup registered in Estonia, obtained its over-the-counter license in Switzerland. The firm offers digital asset exchange services, including fiat-to-crypto and crypto-to-crypto conversions.

The exchange received the approval after receiving a crypto services license in Slovakia. Although the Slovakian government doesn’t require crypto asset providers to operate with an official license, the company mentioned that the approval will enable it to comply with anti-money laundering and terrorist financing rules.

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