FINTEX Interview with Mariya Stoichkova, CEO of Paynetics

Paynetics is a licensed e-money institution focused on embedded finance and white-label card issuing across Europe. With a footprint in B2B, fintech enablement, and corporate payments, the company plays a critical role in powering digital finance infrastructure behind the scenes.

We sat down with Mariya Stoichkova, CEO of Paynetics, to discuss growth, licensing strategy, how Paynetics positions itself in the European EMI ecosystem, and the future of embedded payments.

Who is Mariya Stoichkova?

Mariya Stoichkova is a Bulgarian fintech executive with deep experience in payments, corporate finance, and regulatory strategy. Since taking over as CEO of Paynetics, she has led the company’s expansion into new markets, partnerships with fintechs, and product innovation across APIs and embedded finance infrastructure.

Interview

What is Paynetics, and who do you serve?
Paynetics is a B2B2X fintech infrastructure provider. We serve fintechs, corporates, and platforms that want to offer payments, cards, and accounts under their brand without becoming licensed entities themselves.

How does Paynetics differ from typical EMIs?
Unlike EMIs that build consumer apps, we operate as a backend enabler. Our core is regulated financial infrastructure, accessible via modern APIs, fully compliant, and ready for white-label deployment.

What licenses does Paynetics operate under?
We are an e-money institution authorized by the Bulgarian National Bank and passported throughout the EEA. We also hold issuing and acquiring licenses with Mastercard and Visa.

What are the core services you offer?

IBAN issuing and management
Card issuing (physical, virtual, tokenized)
Merchant acquiring
Embedded finance APIs
Wallets and account infrastructure
Compliance-as-a-service

How does Paynetics help fintechs launch faster?
We provide licensing, infrastructure, and modular APIs so fintechs can skip the long regulatory process. Clients get to market in weeks, not years.

What is your approach to card issuing?
We issue physical, virtual, and tokenized cards via Mastercard and Visa. Our system supports BIN sponsorship, card personalization, and loyalty integrations.

How do you handle AML and regulatory obligations for your clients?
We offer KYC, AML, and transaction monitoring embedded in our platform. Clients can rely on us for compliance or integrate their own solutions.

What kind of companies use Paynetics?
We work with fintech startups, banking-as-a-service providers, corporate travel platforms, gig economy apps, and loyalty programs across Europe.

Can you describe a typical client use case?
A digital payroll platform partners with us to issue virtual cards for freelancers, manage IBANs for wage disbursement, and enable FX payments — all under its own brand.

What role does embedded finance play in your model?
Embedded finance is the future. We’re building infrastructure for any business to become a fintech by embedding payments into their workflows, from lending to expense management.

What differentiates you from providers like Solaris or Treezor?
We’re smaller and more agile. Solaris and Treezor are strong but focused on larger volumes. We support more tailored solutions and don’t compete with our clients for end-users.

What are your main technology strengths?
We own our stack end-to-end, including our core banking engine, card issuing system, and API layer. That gives us more flexibility and control over compliance and innovation.

Is Paynetics profitable today?
Yes, we operate profitably. We’ve chosen sustainable growth with a solid balance between onboarding new partners and scaling existing ones.

Which countries are your strongest markets?
Bulgaria, the UK, Germany, and the Netherlands are key markets. We’re also growing fast in Romania and the Baltics.

How is your UK operation structured post-Brexit?
We established Paynetics UK as a separate entity, authorized by the FCA. This allows us to serve UK customers with local issuance and compliance.

How do you ensure reliability in your infrastructure?
We maintain high SLAs, have redundant systems in place, and use ISO 27001-certified cloud infrastructure. Uptime is one of our key metrics.

What are your biggest growth opportunities in 2025?
More demand for gig economy payments, salary on demand, and cross-border business wallets. Also, more traditional businesses want to embed financial services.

Do you offer SEPA Instant payments?
Yes, we support both SEPA Credit Transfers and SEPA Instant for real-time Euro payments with our issued IBANs.

Any plans for expanding into crypto or Web3?
Not directly. We serve regulated platforms working with digital assets, but we don’t custody or process crypto ourselves.

What KPIs matter most to your team?
Time-to-market for new clients, transaction volume per partner, uptime, and partner satisfaction — these drive our operational and strategic goals.

What’s next for Paynetics?
We’re investing in open finance, launching more orchestration layers, and improving our low-code portal to let partners build their products with less developer friction.

FAQ

Is Paynetics regulated?
Yes, Paynetics is a licensed EMI regulated by the Bulgarian National Bank and passported across the EEA. It also operates an FCA-regulated UK entity.

Can I launch a branded card with Paynetics?
Yes. We offer BIN sponsorship, design, issuance, and tokenization, all via API or managed service.

Do you support IBANs for businesses?
Yes, Paynetics provides dedicated IBANs for individuals and businesses, including SEPA and SEPA Instant capabilities.

What is the onboarding time?
Depending on the complexity, clients can go live in as little as 4 to 6 weeks with full API integration.

Can Paynetics help me stay compliant?
Yes. We offer KYC/AML tools, transaction monitoring, and regulatory reporting support as part of our service suite.

Company Services

Card issuing (Visa & Mastercard)
IBAN issuing and management
Merchant acquiring
Embedded finance APIs
KYC, AML & compliance tools
Digital wallets
FX and cross-border payments
Open Banking integrations

Competitors

Solaris – Strong in Germany but less agile for smaller clients
Treezor – Owned by SocGen, good in France but less pan-EU
Railsr – Fast-growing BaaS, but recent financial instability
Intergiro – Sweden-based, but narrower coverage
Bankable – White-label focus but limited flexibility

Product Positioning

Paynetics positions itself as:

A scalable but boutique BaaS/EMI provider
Agile, with full control of its tech stack
Ideal for fintechs, corporate platforms, and embedded finance startups
Serving both EEA and UK markets
Strong in issuing, SEPA, and API-based compliance tools

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