Viktoria Soltesz

Founder, PSP Angels

the most suitable payments and banking solutions on the market: weapply on behalf of the merchants with the most relevant providers and banks, allowing them to make the right decision, based on price, safety, integration, etc. We also consult about fraud and chargeback solutions, crypto payment acceptance, asset security and risk, hedging, etc

What is the biggest challenge you had to face in your sector and how do you differentiate with other PSP providers?

We are not a payment service provider nor a bank. We are an independent and unique payment consulting firm with access to the “hidden” market information which is necessary for every online business in order to make informed business decisions. In this industry, everything is changing all the time. Also, a lot of information is well hidden as many businesses deals are conducted on a personal level (I know you, trust you, so I service you) So one needs to use all their network, connection, time, expertise, and money to remain up to date with the latest information. Which provider does what? For how much? What works, what doesn’t? Who settles on time? Who is risky? Who to trust when reaching out to new jurisdictions? What are the preferred payment methods in various countries? Which PSP provides these payment methods plus and accepts my risk online business?

Which provider does what? For how much? What works, what doesn’t? Who settles on time? Who is risky? Who to trust when reaching out to new jurisdictions? What are the preferred payment methods in various countries? Who is the PSP which provides these payment methods

How many years has PSP Angels been in the business and if possible, to share few information about your operations, target regions and vision

I started as a tax accountant in Cyprus over 15 years ago. When more and more clients started to have issues with moving funds internationally and asked me about bank compliance, instead of tax planning, I realised that there is a huge gap in the market for an independent payment consultancy service, which explains how “banks think” and how to adhere to it. I opened PSP Angels 4 years ago, with the aim to simplify and explain this very complicated and subjective world of high risk payments. Today we specialised in providing consultancy services to not only payment institutions but also to high risk online businesses (forex, gaming, crypto, adult, CBD, etc). We screen the market to give an accurate picture to our clients about their possibilities for payment processing and banking. We partner up with hundreds of payment service providers (PSPs) and acquiring banks, to understand their acceptance criteria & their services.

We usually set up an overall payment strategy for businesses to optimise the risk and cost of the payment providers. We assist financial institutions with correspondent accounts, high-low risk portfolio balancing, pricing, etc. We also assist our clients with

What are the preferred payment methods in various countries? Who is the PSP which provides these payment methods plus accepts my risk online business?

We invest in building our vast network with banks, payment institutions, and the market leading fintech businesses to gain valuable and up to date information about the payment scene. We ask these questions on behalf of our clients, and we keep our pulse on the market to be able to give updated market information.

How has technology and digitalizationimpacted fintech and payments post-pandemic?

Technology and digitalization is obviously a big part of the payment market since we’re talking about online businesses. I think we got the “lucky end” of the pandemic as the closedowns positively affected the majority of the high risk verticals: adult, gambling, investments, streaming, ecommerce, future tellers, online education, etc. The increased sales figures allowed the companies to invest in technology and come up with innovative ideas, so today we see the results. Several online companies also absorbed the payment vertical

(Uberpay, AmazonPay, BinancePay) and many developed an in-house, custom-built gateway which now is ready for white labelling. Multiple new gateways, payment service providers, EMIs and wallets have been born in the last couple of years. So we definitely see a massive boom in this industry in the last few years. Although this market is still very heavily demand oriented (meaning businesses are looking for banks and payment providers all the time while providers’ compliance pick and choose whom to work with), the supply is undeniably catching up and providing a wider range of options for even the higher risk and challenging (grey market) operations. The main issue however, is that even though technological development is present, there is still a huge misunderstanding and subjectivity when it comes to high risk payment processing, mainly on the side of the merchants. The market changes and while you could process payments easily 5 years ago at a relatively low cost for almost every vertical, today the banking compliance is much stricter, which pushed the prices and expectations up. So the current payment landscape, even though it seems like it’s filled with multiple options, is much more regulated and therefore more expensive. Many people are still confused about possibilities and prices, and since they are collecting their information from the sales people of the payment providers and banks, they can easily walk into the trap of “trusting” the wrong providers and taking unnecessary risks and costs. This is why independent payment consultants are increasingly needed in this market.

Which powerful woman do you admire the most?

My personal hero is my mother. She completed 3 degrees, had a very demanding government position, was a legal advisor to the Ministry, she is still teaching at Universities and runs her own seminars about legislative changes. But she also still cooks every day for my Dad and had the time to raise me (that was the hardest part I think, *laughs*). Growing up watching her work taught me that nothing is impossible, when we plan our time well. Her way of handling the most complex problems with ease and common sense showed me how to see the big picture and resolve any challenge in life. She taught me to see the good in every situation, so today I have the courage to start any project without the fear of failure. I truly believe my upbringing is my biggest asset and she played a big role in my future success and happiness.

What action or decision are you most proud of?

Our curiosity and the willingness to assist. When I started PSP Angels, I was a confused and suffering merchant myself who needed help. So I was very firm that we will never leave any client unattended. We keep an open mind and try to help every online business providing an initial free chat and search. I believe there are not many payment consultants out there who can independently listen to the issues of the client in order to fully understand their situation and needs without the will to sell something to them. We are honest, (sometimes brutally honest) about the possibilities and risks. But this is how we keep our integrity and have returning clients. Also, we are very curious. I still want to hear all the industry gossip and educate myself about the latest news. I encourage all my team members to invest in their personal developments and support them fully on their lifelong education journey in this ever changing industry.

What’s your view on motherhood and career?

Motherhood and career are two important aspects of life, and I believe it is possible (although hard) for a woman to balance both successfully. Of course, it can be challenging to juggle the demands of motherhood and a career, especially when it comes to managing time and resources, but it’s important to recognize that every woman’s situation is unique, and there is no one-size-fits-all approach to balancing motherhood and a career. Some women may choose to put their career on hold to focus on raising their children, while others may decide to continue working while balancing childcare responsibilities. Many workplaces are becoming more family-friendly, offering flexible work schedules, paid parental leave, and other benefits that can help women manage the demands of motherhood and a career. Ultimately, the decision to balance motherhood and a career is a personal one that each woman must make based on her own priorities, values, and circumstances. It is important to support women in whatever path they choose and to work towards creating a society that values and supports both motherhood and women’s careers.

What advice would you give to young women who wish to enter the fintech world?

Young women are very lucky as they are born in an age where they have the best possible opportunities in the history of humankind. Thanks to technological advances, the gender, colour and other personal differences seem to disappear (if you’re working from home the only performance indicator is your work other than your personal circumstances). My advice to everyone (not only women) is to take advantage of this amazing opportunity and embrace their dreams. I truly believe that every disadvantage can be turned into an advantage if used wisely, so we should dare to try new things, fail, learn and do it again. With this mindset, there is no failure, only a lesson to be learned.

Who is Who | Viktoria is the founder of the payment consulting firm, PSP Angels, which helps online businesses optimise their payment flows and costs by finding the best payment and banking solutions. (pspangels.com). Viktoria is also Partner, at consulting boutique firm in Malta, within the iGaming industries, specifically. She also has been running her own finance and tax consulting firm in Cyprus for over 15 years now. (viktoriasoltesz.com) She used to lecture at the University of West London and is a regular speaker at iGaming, blockchain, fintech and investment conferences.

Georgia Pitta Chief Financial Officer, ECOMMBX

How many years has ECOMMBX been in the business, what are its operations and vision?

ECOMMBX obtained and activated its Electronic Money Institution license at the end of 2017. In 2018, the business was set up, people were hired in key positions, relationships were established with strong partners, and we focused on studying all the applicable new regulations to make sure we fully comply.

Soon after, we were able to connect to the SWIFT and SEPA payment systems, which allowed us to be fully operational by the middle of 2018. Additional strategic partnerships were established in the following years, which enabled us to provide BACS, CHAPS and Faster Payments, cross-currency transactions, currency conversion, and multi- routing options.

Our mission is to offer corporate clients all the tools they need for smooth and quick international payments. That includes opening e-accounts, executing payment transfers via SEPA and SWIFT, and in general providing a fast and secure global transaction environment.

At the beginning of 2021 we became a European Acquirer, offering acquiring services to the European merchants of the group. We also became principal members of Mastercard, and we are now in the final stages of obtaining our Visa principal membership.

ECOMMBX’s vision, which is embedded in its overall strategy, is to deliver high quality VIP banking services via advanced digital banking technologies. We continuously expand our strategic partnerships and update our technology to achieve this goal and maintain it.

Above all, what defines ECOMMBX is that we take a customer-centric approach to all we do. Every service is designed to satisfy specific needs while at the same time safeguarding our customers’ interests. This corporate culture is inseparable from ECOMMBX’s focus on the well-being of its people. As an employer, ECOMMBX invests in providing good working conditions, and is the first company in Cyprus to introduce the 4-day working week.

What is the biggest challenge you had to face in the fintech sector?

Powered by the digital revolution, fintechs have transformed the financial sector, especially the payments industry. Innovation is the driver of fintechs, and there is no end to innovation. It involves continuous technological updating and enhancement. The challenge here is to embrace racing technology and stay ahead of the curve, without disrupting the operational tasks. Customers’ demand for hi-tech solutions leaves no room for complacency. We have to be able and ready to update and upgrade at all times.

Another very practical challenge is to make sure we keep up with the ever-changing regulatory requirements and limitations, including AML compliance, sanctions and new taxation reporting requirements that relate to payment services. And with an increase of cyber-attacks, the need for advanced cybersecurity is imperative. Being a start-up – especially in the fintech sector – is a challenge by default, as we have to earn the trust of our customers, partners and providers, and of course the regulators. As a fintech company in Cyprus, we are determined to prove ourselves to EU and non-EU stakeholders.

The last two years have been challenging for all businesses. First, we had the pandemic, then the Ukrainian-Russian war and the geopolitical instability which shook the market. Now increased inflation and interest rates are governing today’s market conditions.

What is your opinion on the future of payments and how is ECOMMBX preparing for it?

The payments industry is experiencing revolutionary change, and electronic payments are playing an important role in transforming the industry. The trend is clearly towards a cashless payment environment. Fintech is the future in the payments and financial services industry, and now it is at its peak in terms of demand and opportunities. Those who have the foresight and vision to convert challenges into opportunities will benefit the most. Innovation and agility are the key to success.

ECOMMBX already has new products in the pipeline. Technological improvements, enhanced services, as well as additions and acquisitions relating to technology are running in the background, not just for this year, but also long-term.

Which powerful woman do you admire the most?

I admire women who have targets and vision, and never compromise their values on their road to success. I admire all women who support other women and see other powerful women as mentors rather than a threat. Personally, my mother has been a great inspiration to me. Without her, I could not have made any of my dreams come true – including the career path that I followed. I admire mothers who see the future via their children and selflessly support them. I dream of being such a mother to my children.

The action or decision you’re most proud of?

I am actually very proud of my decision to join ECOMMBX. I am proud to say that I have been with the Company from day one, and had the opportunity to experience the growth, the challenges and changes that a fintech start-up has to go through. Being with ECOMMBX and the finance function from the very beginning gave me a unique opportunity to experience the birth and growth of a Finance Function and the Company as a whole.

What’s your view on motherhood and career?

Motherhood is a lifetime commitment. Once you become a parent, that becomes your top priority. Being a working mother is therefore a challenging combination. Balance is paramount – but easier said than done. As a working mother of two, I have to balance my time, energy and effort, to advance my career without compromising the wellbeing and development of my children. Through communication and quality time, I compensate for the hours that I am not around.

What advice would you give to young women who wish to enter the fintech world?

My advice to young women who are interested in this industry is not to be afraid of the unknown. I believe that fintech, by nature, should embrace diversity, and women have their place in this sector. We have to understand and accept that this is an industry that is constantly changing, and we are therefore on a path on non-stop learning. Don’t be afraid to ask and learn, and you will be rewarded with an exciting career.

Who is Who | Georgia has held to position of Chief Financial Officer and Executive Director of ECOMMBX Ltd since 2017. As a founding member of the company’s senior management, she actively participated in the digitization genesis of the company. She also set up the company’s accounting and finance departments, as well as the management Risk Committee, and Investment Committee, and is a member of all.

Other key responsibilities include ensuring that the business meets its budgetary targets and minimum capital requirements as per Central Bank Directives, while safeguarding clients’ funds in accordance with the regulatory guidelines and EU Directive.

Lilly Pavlou Director,

Qube Events

How many years have Qube Events been in business, and can you share some information about your operations, objectives, and vision?

QUBE Events was established in 2016 - so we’ve been in business for over seven years! Our QUBE motto is “Where Great Minds Unite!”

QUBE Events was created to provide an authentic platform where business leaders can build and cultivate long-lasting relationships in a healthy and productive space.

We focus on hosting high-level international conferences for senior executives, predominantly in the Fintech sector, with a strong influence in Payments, Banking, RegTech, Finance, Financial innovation, Private Wealth, and Forex. What sets QUBE Events apart is our strong focus on quality, our attention to detail, and our immense passion for what we do.

We host events in Malta, Belgium, Cyprus, Ireland, Switzerland, the United Kingdom, and Greece, and in 2023 we are also launching our Payments & RegTech series in Austin, Texas, in the USA. We are very proud to have built an excellent reputation within the events and conferences space - and personally am also very excited for the year ahead!

What’s the biggest challenge your sector is facing today, in your opinion?

The most significant challenge is the rising travel, venue, and accommodation costs. This impacts us us immensely , as QUBE prioritises hosting events in the best 5-star locations worldwide. We always aim to deliver the highest quality event experiences for our Sponsors, partners, and attendees.

What is the future of the financial sector, how will it evolve and how will Qube Events be supporting this evolution?

The financial services and fintech sector has a reputation for being highly complex, turbulent, and constantly evolving. It’s challenging to predict what the industry will look like in the future, especially considering today’s geopolitical and economic landscape. However, the result of these challenging times puts forth the perfect opportunity for industry leaders and regulators to set future goals to drive the financial sector forward. Financial institutions need to remain adaptable, and flexible and learn how to keep up with to the rapid pace of technological developments. At QUBE, we facilitate change by gathering the leading global executives, thought leaders, and influencers to share their insights and experiences on current developments. Also, we are constantly expanding into new sectors, covering different locations across Europe and soon the USA. Our objectives are to expand into new markets and grow our international network thoughtfully and strategically.

Which powerful woman do you admire the most?

Oprah Winfrey comes to mind. Her energy, passion, and almost everything about her is admirable and inspiring. She is a positive force in the world who brings an unmatched range of people and information into people’s lives. Oprah genuinely cares, and she is authentic. She has used her platform and success to help motivate and empower people worldwide.

The action or decision or decision are you most you’re most proud of?

I am very proud of the growth and success of QUBE Events. We aimed to build a company that could truly make an impact in the B2B Events space. A company that cares and offers value - and a company ready to be accountable for that value. In the very competitive area of conferences and events, we took years to build a brand that could not only align with these values, but also remains true to them.

What’s your view on motherhood and career?

We are incredibly fortunate to have a choice. I believe women are incredible forces – and we can achieve everything we truly desire. We must always do everything possible to build and support the people around us. This, for me, is what I call work-life balance.

What advice would you give to young women wishing to enter fintech?

It’s an exciting time to be in fintech! There are many opportunities arising everywhere and every day.

I believe that women entering the fintech sector are equally embraced – and I see powerful women in amazing companies. Lilly Pavlou is the Executive Director at QUBE Events since 2015. QUBE Events are created to provide an authentic platform where business leaders can build and cultivate long lasting relationships offering customized event experiences.

Who is Who | Lilly Pavlou is the Executive Director at QUBE Events since 2015. QUBE Events are created to provide an authentic platfrom where business leaders can build and cultivate long lasting relationships offering customized event experiences.