The fully customisable PPaaS platform provides services for any payments business, including acquirers, payment facilitators, payment gateways, independent sales organisations and others.
Shape’s PPaaS’ modular architecture allows its licensees to select any combination of its products, which, when operated together, provides the infrastructure for an end-to-end service from transaction instigation to fund settlement. The platform includes automation throughout merchant onboarding, global AML/KYC/KYB verification, fund orchestration, reporting and billing.
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In addition, the platform addresses manual backend processes.
Shape Technologies’ co-founder Jack Mangnall, commented: “We’ve seen so many payments businesses stall under the burden of heavy technology builds and so lose ground on their competition, and now Shape’s solution can put an end to that.
“Be it for a new-to-market launch or the re-platforming of an existing market player, Shape offers an out-of-the-box PPaaS solution, but with truly in-depth customisation capabilities that replicate the style variances normally only found in in-house builds”, Mangnall added. “I’m excited to see how organisations around the world will put our payments-platform-as-a-service to great use.”
Shape enters the market with six modules:
- Onboarding;
- Verify;
- Data;
- Payments;
- Analytics;
- Billing.
Each module represents a key business process of PSPs. As Shape continues to scale, it intends to add additional functionality to its offering, creating partnerships with additional third-party providers to enhance its library of pre-integrated services available to its licensees.
