Velox Pay SH.PK Albania, a subsidiary of IuteCredit Europe, has received an e-money license from the Bank of Albania, allowing the company to expand its product offering. IuteCredit customers will be able to make payments, money transfers, receive and send funds, transfer to an IBAN account, withdraw from ATMs and perform all transactions through the mobile app.
Akan Ajdini, CEO of IuteCredit Albania: “Receiving the e-money license from Bank of Albania means that we can start the payment business with Velox, which is a very exciting opportunity for us. We plan to expand the product offering to our customers and
continuously improve the experience of our customers.
Tarmo Sild, CEO of IuteCredit Europe: “This is part of our strategy to expand all the services we offer digitally and on mobile phones. We can create amazing new experiences for our Albanian speaking customers and a new revenue stream for IuteCredit. »
IuteCredit customers will have the option to receive their loan directly to their e-wallet, the MyIute app. Additionally, new e-money customers can top up their e-wallet balance by applying for a loan from IuteCredit. “Our customers will be able to make real-time peer-to-peer transfers, pay their monthly loan payments, utility bills, local taxes, recharge their mobile accounts, transfer money to their bank accounts or even pay their goods in online stores or in stores using QR and proximity payments,” Ajdini explained.
According to Ajdini, IuteCredit customers can also receive their remittances directly to their MyIute app with the most competitive prices. “Our client will be able to partially use the loan or balance created for payments or transfers, or partially withdraw at our ATMs,” Ajdini said.
“By adding value to our services, we will encourage the customer to stay in our ecosystem and create an excellent customer experience of one-stop service to perform all services online, as well as create new sources revenue by generating small high volume transactions,” Ajdini added.
IuteCredit plans to start offering new services to customers in spring 2022, as soon as the necessary developments and integrations with banks and partners have been finalized.
Velox Pay was founded in 2020 and its 100% shareholder is IuteCredit Europe AS.
IuteCredit – established in 2008 – is one of Europe’s leading personal finance companies. The Group specializes in consumer credit through its wholly-owned subsidiaries. IuteCredit currently serves clients in Moldova, Albania, North Macedonia, Bulgaria as well as Bosnia and Herzegovina. IuteCredit’s loan products are unsecured consumer loans with maturities between 1 month and 48 months and secured car loans with maturities up to 72 months. IuteCredit operates its own network of ATMs which is used via a mobile app. IuteCredit’s mission is to create an extraordinary personal finance experience by exceeding customer expectations. www.iutecredit.com