JCC Payment Systems joins as exclusive domestic investor and first Settle distribution partner.
Oslo, Norway 15 October 2019: Nordic mobile payments pioneer, Auka, announced today that its mobile payments app, Settle, is officially being launched in Cyprus.
Settle is the European mobile payments app built on Auka’s proven mobile payments platform that has already seen major success in the Nordics. Settle was launched earlier this year in Croatia with local partners such as Sberbank and leading media partner 24Sata. Now, Auka is bringing this innovation to yet another European market; Cyprus.
Settle is an open payment scheme, allowing local stakeholders to partner and participate in the distribution both on the issuing and acquiring side. In addition Settle is launched and managed in each European country through a domestic joint venture, facilitating local ownership.
For the rollout of Settle in Cyprus, Auka has entered into a joint venture with JCC Payment Systems. In addition JCC has joined the Settle scheme as the first distribution partner, enabling Settle acceptance with Cypriot businesses.
Nicodemos Damianou, CEO of JCC Payment Systems says: “Our objective is to serve our merchants with the best possible tools for them to simplify and grow their business. Alternative payment methods are growing at an exponential rate around the world, and we believe it’s of strategic importance for JCC to take lead and ensure we have a future proof product offering. We have worked with Auka for more than a year, and we are very excited and enthusiastic about our partnership. Now we will take a big step forward to digitize money, help our business clients simplify their day to day business and offer a way for everyone to send and receive money digitally.”
With Settle, anyone can pay and get paid instantly with their phone. All you need is a phone number and the Settle app. Users can send money from their debit and credit cards, and money received is instantly available in the user’s Settle Account. Money received can be transferred to the users bank account for free. Settle for Business is a suite of easy to use tools for businesses to accept payments and sell more. With Settle businesses can accept payments in any situation without any hardware, all the way to integrated solutions. Settle is the best way for people and companies to transact, manage their money and grow their business. Settle removes the inconvenience of cash and offers a modern and seamless payment experience for everyone.
Daniel Døderlein, CEO and Founder of Auka, is thrilled to bring this Nordic award-winning solution to the Cypriot market: “We are excited for the whole Cypriot population, and the business community. Settle will enable everyone to pay and get paid instantly using their phone. Businesses can accept payments without any hardware, and you can grow your business with easy to use tools. Settle is Europe’s only real-time mobile payment network that is available in 3 markets and growing. We believe and work hard to ensure that this will transform everyday lives for the Cypriot people, as well as for all europeans.”
With Settle, Cypriot users can send and receive money instantly using their phone and phone numbers. All funds moved with Settle are safe and guaranteed by Auka under their EU wide e-money license. The core platform is built by Auka from the ground up, and has securely powered some of the most successful mobile payment solutions since 2010, running 100 percent on Google Cloud.
“We understand the importance of security for our customers. Auka is a regulated financial institution, and we guarantee that users’ electronic money is safe and completely secure. We do not invest, speculate or lend out funds; we keep it safe in our pan-european client accounts until it’s paid to the user, merchant or bank account as ordered by the client through the Settle app” says Døderlein.
Settle is operated with local support and marketing provided through Settle Cyprus, a local legal entity ensuring that a majority of the revenue from Settle in Cyprus is used to create local jobs and return value to the local business community.
Settle is compatible for all users in Cyprus, regardless of their bank, telco or card. The app is available for iOS and Android.
For more information please visit www.settle.eu
About JCC Payment Systems
For more than 29 years, JCC Payment Systems has established itself as the absolute leader in providing payment solutions to the Cypriot market. Acknowledged as the trusted partner for merchants, banks, the government and consumers, the name of JCC has been made synonymous with electronic payments in the Country.
JCC is offering a wide range of services, including card processing and acquiring solutions for both face-to-face and eCommerce transactions, loyalty & rewards services, card personalization, fraud monitoring, disaster recovery & continuity hosting, digital signatures and eInvoicing solutions.
Following on its new direction to offer additional services for the digitization of the economy, JCC continues to be instrumental in driving further adoption of digital payments in Cyprus and helping businesses digitize both their payments and their operations.
About Auka
Since 2010, Auka has been making a name for itself as leaders in mobile payments and m-commerce. From its headquarters in Norway, they’ve spent almost a decade developing an award-winning and world-class financial services platform.
Auka developed the first mobile payments platform in the Nordics (mCASH) and launched the first mobile payments solution in Norway, impacting the lives of millions of people and helping to fundamentally change the way people pay and get paid in Scandinavia.
Now Auka, with its mobile payment app Settle, is on a mission to make it easier than ever for people and businesses to pay and get paid all over Europe.
Contact information
Nicodemos Damianou CEO JCC Payments |
www.jcc.com.cy | n.damianou@jcc.com.cy
Auka CEO Daniel R. Döderlein
daniel@auka.io
