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The subsidiary of Iute Credit Europe, Velox Pay Albania LLC received from the Bank of Albania, the license to operate as an Electronic Money Institution in Albania.
This enables the company to expand the range of its products. Through Velox Pay, IuteCredit customers will be able to make payments, receive and send money, transfer money to an IBAN account, withdraw from ATMs and perform any transaction through the mobile application.
Akan Ajdini, CEO of IuteCredit Albania: “Obtaining from Velox Pay the license to operate as an Electronic Money Institution means that we can start the payment business with Velox. This is a very exciting opportunity through which we plan to expand the range of products 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 great new experiences for our customers. ”
IuteCredit customers will have the opportunity to get their loan directly in their electronic wallet, in the MyIute application. Also, new customers who will have an electronic wallet can fill it with money by applying for an IuteCredit loan.
“Our customers will be able to make peer-to-peer transfers in real time, pay their loan installments, utility bills, local taxes, top up their mobile accounts, transfer money to their bank accounts or even pay for their goods in online stores or in stores that use QR and payment nearby “, explained Ajdini.
According to Aydin, IuteCredit customers can also receive their deliveries directly to their MyIute app at the most competitive prices.
“Our client will be able to partially use the loan or the balance created for payments or transfers, or partially withdraw at our ATMs”, said Ajdini.
“By increasing the value of our services, we will encourage the customer to stay within our ecosystem and create an excellent customer experience of a one-stop-shop service of all online services, as well as create flows.” new revenue generating small transactions in high volume ”added Ajdini.
IuteCredit plans to start providing new services to customers in the spring of 2022, once the necessary developments and integrations with banks and partners have been finalized.
Velox Pay was founded in 2020 and its 100% shareholder is Iute Credit Europe AS.
IuteCredit – founded in 2008 – is a leading European personal finance company. The group specializes in consumer loans through its 100% subsidiaries. IuteCredit currently serves clients in Moldova, Albania, Northern Macedonia, Bulgaria, as well as in Bosnia and Herzegovina.
IuteCredit loan products are unsecured consumer loans with a maturity of 1 month to 48 months and secured loans for cars with a maturity of up to 72 months. IuteCredit operates its own ATM network, which is used through the mobile application. IuteCredit’s mission is to create an exceptional personal finance experience that exceeds customer expectations. www.iutecredit.com
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