Exclusive: Finera Launches Payment Orchestration Platform Out of Cyprus

The payments industry in Cyprus has a new entrant: Finera, which has launched as a payment orchestration platform, Finance Magnates has learned. The company is already offering the technology to a diverse portfolio of companies

Targeting Businesses of "All Sizes"

According to its website, the company aims to offer businesses of all sizes secure, scalable technology for financial transactions.

Further, the platform will also focus on mitigating payment risks, including fraud.

“One of the biggest challenges businesses face is managing multi-currency payments while ensuring strong security measures,” said Israel Waks, Chief Operating Officer of Finera. “Finera’s platform is designed to simplify this process, offering advanced fraud prevention, intelligent routing, and increased approval rates.”

“Businesses today need more than just payment processing; they need a partner that understands their challenges and provides strategic insights,” Waks added.

Finera revealed that it has already started onboarding clients and has established a team of over 100 people in its Cyprus office.

Will Cyprus Become the Next Payments Hub?

Finera is poised to make a significant impact in Cyprus’ payments market. The company is committed to enhancing its technology to empower businesses to thrive in the digital economy.

"Our focus is on developing solutions that empower businesses to thrive in the digital economy," added Waks.

The increased activity in the sector in 2024 indicates a vibrant market environment and growing opportunities for innovation.

Earlier this year, Cyprus also made a significant change in its banking infrastructure and reduced interbank and cross-border transaction time to merely 10 seconds, which previously took one or two days.