PayPugs Appoints Gints Veidemanis as Head of Card Business

PayPugs, a Washington DC-based online payment solution for medium and high-risk industries, has announced the appointment of Gints Veidemanis today as the company’s Head of Card, with effect from 31 January 2022.

This is a new job position that the payment service provider has created. Veidemanis will, therefore, be expected to provide leadership and strategy for PayPugs card solutions as well as drive the development and execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of the overall product roadmap. His strategic direction and client-centric approach will make an important impact on PayPugs growth over the coming years.

Before joining PayPugs, Veidemanis worked for more than 20 years in the banking sector. Early in his career, he joined the cards department where he gained profound experience about digital and physical card operations. He had worked in major banks, such as SEB Swedish bank, Luminor bank and RIB (Regional Investment Bank). Therefore, Veidemanis has solid work experience to build PayPugs card operations at an international scale. Besides that, Veidemanis has the expertise to work with VISA and Mastercard, and this gives him the ability to implement the infrastructure for efficient and most importantly compliant operations at PayPugs.

Commenting about the announcement, Veidemanis stated: “I am delighted to have joined the PayPugs team. It is really exciting to join such an enthusiastic and fast-moving company. The vision set out is something that everyone can get behind. The international thinking was an appealing reason to join the company. I hope to do my best to implement the needed business practices in order to reach PayPugs next phase of growth.”

Expanding Fast, Efficient Financial Services to Customers

Last month, Paypugs partnered with Verifo, an e-money and payment services based in Lithuania, to expand banking and payment possibilities in the international money transfer market. PayPugs established collaboration with Verifo in order to achieve cheaper, faster and better financial services in today's competitive markets.

The partnership came when Paypugs is focused on collaborating with third-party partners to enhance its services and sign up business-to-business (B2B Business-to-Business (B2B) Business-to-business (B2B) represents an interaction in which one business makes a commercial transaction with another. B2B also reflect supportive enterprises that offer or exchange elements that businesses need to operate and grow.In essence, B2B encompasses companies focused on selling products or services to other businesses rather than to consumers – Business-to-Consumer (B2C).Ultimately, B2B companies can be a part of any industry. These is a common market in any technology or manufacturin Business-to-business (B2B) represents an interaction in which one business makes a commercial transaction with another. B2B also reflect supportive enterprises that offer or exchange elements that businesses need to operate and grow.In essence, B2B encompasses companies focused on selling products or services to other businesses rather than to consumers – Business-to-Consumer (B2C).Ultimately, B2B companies can be a part of any industry. These is a common market in any technology or manufacturin Read this Term) clients. In November last year, Paypugs partnered with Wallester, an Estonia licensed card issuer and an official Visa Principal Member, to provide card issuing solutions to its clients. Also, in July last year, Paypugs formed a partnership with BDSwiss, a multi-regulated FX and CFDs broker, to bring new payment options to its clients.