8 October 2024 – Paymentology, the leading global issuer processor, has been named the Platinum Winner of the Embedded Finance Innovation Award at the Juniper Research Fintech and Payments Future Digital Awards 2024.
The Future Digital Awards celebrate organisations that have excelled in their industries and are set to make a significant impact on shaping the future of digital finance. Paymentology was recognised by Juniper Research for its innovations in next-generation payment solutions, which are transforming the payments landscape and enabling financial institutions to offer more seamless and efficient services.
As a leader in payment processing, Paymentology’s platform supports both banks and fintechs by offering advanced card issuance and processing capabilities. Beyond traditional financial institutions, Paymentology empowers non-financial institutions to offer payment services such as corporate expense cards, employee benefits cards, salary disbursement, and stored-value supplier cards, allowing businesses to integrate smooth, digital financial solutions. Additionally, Paymentology is a leader in card programme management in South Africa, offering services like gift cards and insurance payouts, enabling non-financial institutions to embrace digital payments with the full support of Paymentology and its banking partners.
The global embedded finance market is rapidly expanding, with an estimated market size of USD 83.32 billion in 2023, and projected to grow at a CAGR of 32.8% from 2024 to 2030. Similarly, the global Digital Payments market is expected to grow by 9.52% from 2024 to 2028, reaching a market volume of US$16.59 trillion by 2028. As a key innovator in these sectors, Paymentology is well-positioned to drive this growth and shape the future of digital payments.
Jeff Parker, CEO of Paymentology, commented: "We’re delighted to be named the Platinum Winner at the Juniper Research Future Digital Awards. This recognition is a testament to our team’s dedication to pushing the boundaries of what's possible in the world of payments. We are committed to continuously innovating in embedded finance, ensuring that our partners—whether banks or fintechs —can offer next-generation payment technology that meets the demands of an increasingly digital world.”