Welcome to our new Banking as a Service page! Here, you’ll find secure, efficient, and versatile payment options explicitly tailored for EMI, SPI & P2P, CASP.

Bring your
fintech
brand to life

Access our open-architecture payment solutions and a comprehensive suite of banking services designed to expand your fintech business or launch your startup effortlessly.

Designed to empower
various industries

Our solutions are designed for innovative companies

ready to realize their ideas and visions to life

SPI/API/EMI
P2P/CASP
Coins
Solutions
for SPI, API & EMI

SPI — Small payment institution

API — Authorized payment institution

EMI — Electronic money institution

UserCircle
Account
management 

services
  • Classic Safeguarding accounts 
  • Operational Account
  • Overnight deposit 
  • Virtual IBANs
  • Safeguarding Account at Latvijas 
Banka (optional)
credit-card
Payments 

& transfers
  • Addresable BIC connection to SEPA, SEPA Instant, 
Target systems with access to Latvijas Banka 
  • Visa and Mastercard settlement accounts
  • Google Pay and Apple Pay acceptance
  • Cross border Swift payments
Bank
Global payment
solutions for business
  • FX solutions for businesses needing international transactions
  • API integration for seamless service implementation
  • Payfac model for Visa, Mastercard, Apple Pay, Google Pay
  • Webhook notifications for account activities.
Cardholder
Payment gateway

Our payment gateway is a secure, seamless, and efficient solution designed to simplify online transactions for your business.

  • Secure transactions
  • Multiple payment options
  • Global accessibility
  • Detailed reporting
receipt
Transparent & competitive fees

Our fee structures are transparent, competitive, and free of hidden costs

For Payment Institutions
Assessment of application 500 €*
Account activation from 1500 €
Monthly account fee or minimum invoice from 0 €
Connection to API 2500 €
*The fee is non-refundable if the agreement is not finalized.
CheckCircle
Solutions 

for P2P/CASP

P2P — Lending platform

CASP — Crypto-asset service provider

UserCircle
Account
management
services
  • Classic Safeguarding accounts 
  • Operational Account
  • Overnight deposit 
  • Virtual IBANs
  • Safeguarding Account at Latvijas 
Banka (optional)
credit-card
Payments 

& transfers
  • Visa and Mastercard payment acceptance
  • Google Pay and Apple Pay 
  • Mass Payout Solutions (CSV or API integration)
  • C2B and B2B payments
Bank
Global payment
solutions for business
  • FX solutions for businesses needing international transactions
  • API integration for seamless service implementation
  • Webhook notifications for account activities
Cardholder
Payment gateway

Our payment gateway is a secure, seamless, and efficient solution designed to simplify online transactions for your business.

  • Secure transactions
  • Multiple payment options
  • Global accessibility
  • Detailed reporting
receipt
Transparent & competitive fees

Our fee structures are transparent, competitive, and free of hidden costs

For P2P & CASP
Assessment of application 500 €*
Account activation from 1500 €
Monthly account fee or minimum invoice from 0 €
Connection to API 2500 €
*The fee is non-refundable if the agreement is not finalized.

01

04

Security
& compliance first 

With Magnetiq Bank, enjoy a BaaS experience that prioritizes
security and regulatory excellence in every transaction

Anti-fraud systems

3D Secure 2

PCI DSS Level 1

PSD2 Conformity


	// Create new payment
	$response = $api->Payment(array(
		'AutoDeposit' => 'true',
		'Payment' => array(
			'Mode' => 4
		),
		'Order' => array(
			'ID' => 'product_id_' . microtime(),
			'Amount' => 100, // In minor units, thus 100 equals 1.00 EUR
			'Currency' => 'EUR',
			'Description' => 'Test transaction'
		),
		'Card' => array(
			'Number' =>'5186001300001016', // 13-19 digit number
			'Name' => 'test', // Under 50 utf8 chars
			'Expiry' => '3012', // First year, then month
			'CSC' => '999' // Exactly 3 digits
		),
		'RemoteAddress' => '8.8.8.8' // This MUST be cardholders IP
	));

	echo "Created new payment:\t\t" . $response->asXML() . PHP_EOL;

	// Get payments status
	echo "Got status by payments id:\t" . $api->GetPayment(array(
		'Payment' => array(
			'ID' => $response->Payment->ID
		)
	))->asXML() . PHP_EOL;

}
catch (SoapFault $ex) {
	echo 'SOAP EXCEPTION: ' . $ex->faultcode . ' - ' . $ex->faultstring . PHP_EOL;
}

curl -v -X POST http://127.0.0.1:8010/api/v3/soap \
-H 'Content-Type: text/xml;charset=UTF-8' \
-H 'SOAPAction: urn:GetPayment' \
-d '
<soapenv:Envelope
	xmlns:soapenv="http://schemas.xmlsoap.org/soap/envelope/"
	xmlns:urn="urn:Gateway"
>
<soapenv:Header/>
<soapenv:Body>
	<urn:GetPaymentRequest>
		<INTERFACE>3718442</INTERFACE>
		<KEY_INDEX>1</KEY_INDEX>
		<KEY>xZcu1wHa+itpJAhfMgeQOij7Ow6rFqk75X1pDENdp/IX1ZIuNFWyQIfsj10amhwFlXsQMsJ840dDVCzzk71b5RJeg/+HozTov+droIw2G0jcYrp9kFEhTS+pm+DSD9J+mVtlupsC9a1xsHl4rEeH2sI9HzSjMe+6hBfib82mbOw=</KEY>
		<DATA>0ll4YkF8ovO+0ZmxhGn0GDV/RE5A9weWdcjXl8XFMIhlxxVQWazDsSw3ICBCQbcAfysJlWp+og/8wKt+vs2iU7q4x85dnNROgSIb/UixM/bapxukQaVAFJDIuwdrnRnggiz5SWPvm5JmnB29rl3fbkTibVJ2QiY=</DATA>
		<SIGNATURE>iQWaErG9kZeCggVTm6FJtSw2ZWqgt0UYw9W+KUIK0qBbZeUaOkyk7b7nGkm+sN6McmVt+ues1eoLNzzp4qKfWnEawkp/6ChyZex687FEs5G8KOw/6gRxqNaGKTaslA6R4j4MEbCz4+2rkHF7y3HGA07N11iEq+lafoe+YfJyEQk=</SIGNATURE>
	</urn:GetPaymentRequest>
</soapenv:Body>
</soapenv:Envelope>'

// Create new payment
final PaymentResponse response = api.Payment(new DataType() {{
		PaymentType payment = new PaymentType() {{
				setMode(4); // SOAP payment, non-3d secure
		}};

		OrderType order = new OrderType() {{
				setID("product_id_" + new Date().getTime()); // Must be unique for every payment
				setDescription("Test transaction");
				setAmount(100); // In minor units, thus 1.00 EUR
				setCurrency("EUR"); // In ISO alpha3 format
		}};

		CardType card = new CardType() {{
				setName("Lorem Ipsum"); // Not longer than 50 chars
				setNumber("5444870724493746"); // 13-19 digits
				setExpiry("3012"); // Must be in future
				setCSC("999"); // 3 digits
		}};

		setAutoDeposit(true); // Capture right after authorization
		setPayment(payment);
		setOrder(order);
		setCard(card);

		setRemoteAddress("8.8.8.8"); // Clients IP address
}});

System.out.println("Created new payment:\t\t" + response);

// Get payments status
final PaymentResponse status = api.GetPayment(new DataType() {{
		setPayment(new PaymentType() {{
				setID(response.Payment.ID);
				setMode(4);
		}});
}});
System.out.println("Got status by payments id:\t" + status);

	# Create new payment
	response = api.Payment({
		'AutoDeposit': True,
		'Payment': {
			'Mode': 4
		},
		'Order': {
			'ID': 'product_id_' + str(time.time()),
			'Amount': 100,  # In minor units, thus 100 equals 1.00 EUR
			'Currency': 'EUR',
			'Description': 'Test transaction'
		},
		'Card': {
			'Number': '5186001300001016',  # 13-19 digit number
			'Name': 'test',  # Under 50 utf8 chars
			'Expiry': '3012',  # First year, then month
			'CSC': '999'  # Exactly 3 digits
		},
		'RemoteAddress': '8.8.8.8'  # This MUST be cardholders IP
	})

	print("Created new payment:\t\t", response)

	# Get payments status
	status = api.GetPayment({
		'Payment': {
			'ID': response['data']['Payment']['ID']
		}
	})
	print("Got status by payments id:\t", status)

except Exception as ex:
	print('SOAP EXCEPTION:', ex)

// Create new payment
let request = {
    AutoDeposit: true,
    Payment: {
        Mode: 4
    },
    Order: {
        ID: 'product_id_' + new Date().getTime(),
        Amount: 100,
        Currency: 'EUR',
        Description: 'Test transaction'
    },
    Card: {
        Number: '5186001300001016',
        Name: 'test',
        Expiry: '3012',
        CSC: '999'
    },
    RemoteAddress: '8.8.8.8' //Cardholder IP address
};

api.Payment(request, (response) => {
	console.log('Created new payment:', response);

    api.GetPayment({
            Payment: {
                ID: response.data.Payment.ID
            }
        },
		(status) => {
            console.log('Got status by payments id:', status);
        })
});

Connect to the API

Start quick integration with our easy API

Spend less time connecting to our API,  use banking infrastructure, and grow faster

Connect to the API

A better way
to build products

Launch, manage, scale and sell your product with
licensed banking infrastructure

Principal members

Cooperation directly with Visa and Mastercard allows our clients to be more flexible in payment operations

16+ years of experience

With 16 years of hands-on experience in e-commerce and fintech, we bring a wealth of practical knowledge to meet your needs

€34.8 M capital & reserves

We maintain sufficient capital reserves to meet regulatory requirements and safeguard our clients’ assets

Associations members

We are participating in the Fintech Latvia Association, Finance Latvia Association, The Latvian Blockchain Association

EU bank fully licensed

We are committed to transparency and excellence and provide seamless banking experiences across the EU

38.76 % capital adequacy

Our commitment to capital adequacy reflects our dedication to risk management and financial stability

Power is to solve
problems together 

That’s what we believe in, and our clients usually agree on that

Our business is built on online sales transactions, so it’s crucial to have a reliable financial specialist with shared values, a comprehensive portfolio of e-commerce tools, and payment processing solutions by our side. We thank Magnetiq Bank for its efficiency, precision, and innovative approach to problem-solving.

Magnetiq Bank offers all the necessary tools and payment solutions tailored to meet even the most demanding client’s needs. All inquiries and suggestions are handled within the agreed timelines. The bank’s payment instruments deliver high conversion rates—on average 10% higher than other providers.

Magnetiq Bank e-commerce solutions enabled DiscoverCarHire.com to start operations quickly and serve customers worldwide. The platform’s convenience and reliability, combined with the bank’s professional team, have supported our growth and competitiveness in the global market for many years.

Magnetiq Bank has provided reliable solutions for the entire spectrum of financial services used in crowdfunding and has rapidly advanced in banking technology. We are delighted to have them as partners and believe in a mutually beneficial collaboration rooted in next-generation technologies.

Questions
you may have

What is Banking as a Service (BaaS)?

BaaS is a model that allows non-bank businesses to offer financial services by integrating bank products through APIs. It enables companies to provide banking-like services without becoming a licensed bank.

How BaaS model works?

What do you get with Magnetiq Bank BaaS solution?

What is BaaS for?

What benefits do BaaS providers offer to their clients?