Paynovate
Belgian e-money issuer that bundles IBAN account programmes, SEPA flows, card issuing with BIN sponsorship and acquiring behind one regulated partner
Quick Overview
| Company | Paynovate SA |
|---|---|
| Category | Banking as a Service (BaaS) Providers |
| Headquarters | Brussels area, Belgium, Belgium |
| Founded | Not stated |
| EU Presence | Yes - Belgium (EU, National Bank of Belgium) |
| Data Location | Not stated on the pages read |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | No |
| Main Features | IBAN accounts, SEPA transfers, SEPA Instant, SEPA Direct Debit, card issuing, BIN sponsorship, Visa and Mastercard access, in-person and online acquiring, white-label option |
| Pricing | Monthly pricing for a standard business IBAN account (amounts not shown); other products custom |
| Best For | Platforms and EMI distributors launching IBAN accounts and cards in the EEA |
| Replaces | Unit, Treasury Prime, Synctera |
Detailed Review
Paynovate SA is registered with the Banque-Carrefour des Entreprises under BE0506 763 929, and its legal hub describes it as an e-money issuer regulated by the National Bank of Belgium. Its about page lists teams in Brussels and Versailles and dates its EMI licence to 2019.
The offer reaches past accounts: the same company runs card acquiring, terminals and issuing, and it states it has issued nearly 2 million cards and processed €3.4 billion of acquiring volume in 2025.
An account programme you operate
In the IBAN Program, the customer journey stays in your product while Paynovate supplies the regulated layer, SEPA transfers, SEPA Instant and Direct Debit. Roles, limits and payment permissions are agreed before launch, and the page names use cases such as customer wallets, collection and payout flows and partner accounts.
Accounts can later be linked to a card programme when spending is part of the proposition.
BIN sponsorship and cards
The embedded finance page combines IBAN accounts, BIN sponsorship, Visa and Mastercard access, card production and personalisation, with optional services such as card-linked insurance and lounge access. FX support is described as a future capability.
Several programmes with separate partners and card types can run under one setup.
Onboarding expectations
Indicative onboarding time is two days for low-risk, two weeks for medium-risk and one month for high-risk businesses, based on its own page. Every business goes through KYB checks, transaction monitoring and periodic reviews, and the company says it is PCI DSS certified.
Limitations to Consider
Paynovate states that as an e-money institution it offers no bank or deposit accounts and that its payment accounts are not covered by the Guarantee Fund, so customers hold safeguarded e-money rather than insured deposits. The pricing page shows plan structures without amounts for most products, and developer documentation was not found on the pages read. A sterling programme needs Modulr or Griffin instead.
Who Should Use Paynovate
EMI distributors, fintechs and vertical platforms that want euro IBANs and cards from a Belgian licensed partner and can accept custom pricing.
Pros and Cons
Pros
- Own EMI licence supervised in Belgium
- IBAN, SEPA Instant and Direct Debit in one programme
- BIN sponsorship and card issuing on the same contract
- Published indicative onboarding times
- Acquiring and issuing under one roof
Cons
- No deposit insurance, e-money only
- Pricing amounts mostly hidden
- Public developer documentation not found
- Euro-centred, no sterling focus
Alternatives to Paynovate
Other European banking as a service (baas) providers worth comparing before you decide:
Griffin
United Kingdom · London bank with its own core system and a public platform price
Swan
France · Paris e-money institution selling business accounts and cards to software
Wallester
Estonia · Tallinn Visa principal member issuing cards and IBAN accounts under your brand
ClearBank
United Kingdom · UK clearing bank with a Dutch EU arm, accounts settled at central banks
See all European banking as a service (baas) providers or compare them directly against Unit on our alternatives page.
Frequently Asked Questions
No. Paynovate says it does not offer bank or deposit accounts and that its payment accounts are not covered by the Guarantee Fund. Client funds are safeguarded and kept apart from its own money.
The site gives indicative times of 2 days for low-risk, 2 weeks for medium-risk and 1 month for high-risk businesses.
Yes. It lists card issuing, BIN sponsorship, Visa and Mastercard access and card production next to IBAN accounts.