Frequently Asked Questions

Paymart Suite is a modular, API-first payment processing platform designed for licensed financial institutions. It includes 8 core modules: Accounts, Payments, Cards, Loans, FX, Commerce, Open Banking, and Compliance. The platform enables EMIs, banks, and PSPs to operate across European and African markets from a single hub in Cabo Verde.

Paymart Suite is designed for licensed financial institutions including Electronic Money Institutions (EMIs), Payment Institutions, banks, Payment Service Providers (PSPs), and fintech startups actively applying for a financial license. All users must comply with applicable regulatory requirements in their jurisdiction.

Cabo Verde offers a unique position as a payment bridge between Europe and Africa. Its financial regulations are harmonized with EU standards (enabling SEPA access), it sits on major submarine cable routes between continents, and the Bank of Cabo Verde provides a favorable licensing framework for payment institutions serving both European and African corridors.

A basic deployment with the Accounts and Payments modules can be live within 4-6 weeks. Full suite deployment with all 8 modules typically takes 3-4 months, including integration, testing, and regulatory alignment. Timeline varies based on your existing infrastructure and regulatory requirements.

Yes, Paymart Suite is built on PCI DSS Level 1 compliant infrastructure. Our Cards module includes full 3D Secure authentication, tokenization, and end-to-end encryption. We maintain annual PCI DSS certification and undergo regular security audits.

Absolutely. Paymart Suite's modular architecture allows you to start with any single module and add others as your business grows. Each module operates independently with its own API, so you can deploy incrementally without disrupting existing operations.

Paymart Suite supports multi-currency operations including EUR, CVE (Cabo Verdean Escudo), USD, GBP, and 50+ other currencies through our FX module. All accounts can hold balances in multiple currencies simultaneously with real-time conversion capabilities.

We employ bank-grade security: TLS 1.3 encryption in transit, AES-256 encryption at rest, role-based access controls, comprehensive audit logging, and regular penetration testing. Our Compliance module includes transaction monitoring, sanctions screening, and fraud detection powered by machine learning.

Banking-as-a-Service (BaaS) is a model where licensed banks provide their banking infrastructure — accounts, payments, cards, compliance — via APIs to fintechs and non-bank businesses. Paymart Suite is a complete BaaS platform that lets financial institutions offer banking services without building infrastructure from scratch. The BaaS market is projected to reach $37.4 billion in 2026 and grow to $386.1 billion by 2036.

Paymart Suite processes cross-border payments between Europe and Africa through its integrated Payments and FX modules. Based in Cabo Verde — a strategic bridge between the two continents — the platform supports SEPA transfers for European corridors, SWIFT for international settlements, and local payment rails for African markets. Real-time currency conversion covers 50+ currencies with competitive exchange rates, significantly reducing the cost of cross-border transactions below the G20 benchmarks of 1% for retail and 3% for remittances.

Cabo Verde is emerging as a fintech hub due to its unique position between Europe and Africa. Its financial regulations are harmonized with EU standards, enabling SEPA access and European market entry. The government's digital transformation agenda aims to digitize 60% of public services by 2026. The country sits on major submarine cable routes (ACE, SAT-3/WASC), providing reliable connectivity. The Bank of Cabo Verde offers a favorable licensing framework, and with 16 banks and financial institutions already operating, the ecosystem supports payment institutions serving both continents.

Unlike monolithic core banking systems like Temenos or Oracle FLEXCUBE that require 12-18 months to deploy and cost millions, Paymart Suite offers a modular, API-first architecture starting from €1,250/month per module. You can deploy individual modules in 4-6 weeks, scale incrementally, and avoid vendor lock-in. Traditional systems bundle everything together; Paymart Suite lets you pick only what you need — Accounts, Payments, Cards, Loans, FX, Commerce, Open Banking, or Compliance — each with independent APIs and deployment.

Paymart Suite is designed to integrate with Pan-African payment infrastructure including PAPSS (Pan-African Payment and Settlement System), which enables instant cross-border transfers within Africa in local currencies. Our Open Banking module provides PSD2-compliant APIs for account aggregation and payment initiation, while the Payments module supports multi-rail processing including SEPA, SWIFT, and local African payment schemes.

The Compliance module includes real-time transaction monitoring, AML (Anti-Money Laundering) screening, KYC (Know Your Customer) verification, sanctions screening against OFAC, EU, and UN lists, regulatory reporting for central banks, and AI-powered fraud detection. The platform supports compliance requirements across multiple jurisdictions including EU PSD2, Cabo Verde banking regulations, and African financial standards.