joompay launches its bill-splitting payment app across europe to take on transferwise and others
Joompay Expands into Europe with EMI License
Joompay, a fintech startup offering an iOS and Android application comparable to Venmo and TransferWise, has initiated operations within Europe. This expansion follows the successful acquisition of a Luxembourg Electronic Money Institution (EMI) license.
The application facilitates instant and cost-free money transfers between individuals. However, the company faces significant competition within the existing market.
Navigating a Competitive Landscape
Joompay will be contending with established peer-to-peer payment functionalities offered by prominent financial institutions such as Revolut, N26, Monese, and Monzo.
The company was founded by the team behind Joom, a well-known e-commerce marketplace.
Simplified Money Transfers and Payment Solutions
Sending funds is streamlined; users require only an email address or phone number of the recipient. Alternatively, a unique Joompay paytag can be utilized, ensuring privacy by concealing personal information.
The platform supports collaborative bill payments, online purchases, and international money transfers.
Enhanced Functionality: Customizable Payment Pages
Joompay also empowers users to generate tailored payment pages. These pages can be shared via a personal Joompay URL.
This functionality enables users to collect payments from clients and accept donations, mirroring the capabilities of services like PayPal.
Company Vision and Market Timing
“Our application has been meticulously developed to provide a leading, truly pan-European peer-to-peer payment experience,” stated Yuri Alekseev, CEO and co-founder of Joompay.
“The accelerated adoption of cashless payment methods during the recent pandemic reinforced our belief that this is an opportune moment for continued growth and innovation.”
Visa Partnership and Card Issuance
In December, Joompay achieved Principal Membership within the Visa card network.
This membership grants the company the authority to issue new Joompay cards throughout Europe.
Mike Butcher
Mike Butcher: A Profile of a Leading Tech Voice
Mike Butcher, M.B.E., is a highly respected figure in the technology landscape. Previously serving as Editor-at-large for TechCrunch, his journalistic background includes contributions to prominent UK newspapers and magazines.
Recognition and Influence
Wired UK has recognized Butcher as one of the most influential individuals shaping European technology. This acknowledgement underscores his significant impact on the sector.
Speaking Engagements and Interviews
Butcher is a sought-after speaker, having presented at prestigious events such as the World Economic Forum, Web Summit, and DLD. He has conducted interviews with a diverse range of prominent figures.
Among those he has interviewed are former UK Prime Minister Tony Blair, Russia’s Dmitry Medvedev, actor Kevin Spacey, model Lily Cole, Telegram founder Pavel Durov, and Wikipedia’s Jimmy Wales, alongside numerous other technology executives and celebrities.
Broadcasting and Advisory Roles
As a frequent broadcaster, Mike Butcher regularly appears on major news networks. These include BBC News, Sky News, CNBC, Channel 4, Al Jazeera, and Bloomberg.
His expertise extends to policy advising, having consulted with UK Prime Ministers and the Mayor of London regarding technology startup initiatives. He also served as a judge on the UK edition of The Apprentice.
Awards and Founding Ventures
GQ magazine once listed him among the 100 Most Connected Men in the UK. This highlights his extensive network within the industry.
Butcher is also the co-founder of several notable organizations:
- TheEuropas.com: A platform showcasing the Top 100 European startups.
- Techfugees.com: A non-profit organization.
- TechVets.co: Another non-profit initiative.
- Startup Coalition: Focused on supporting startups.
In 2016, he was awarded a Member of the Order of the British Empire (M.B.E.) in the Queen’s Birthday Honours list. This was in recognition of his services to the UK technology industry and journalism.