Gerhard Häring und Helmut Bahamon are still standing on the shore of Lake Thun, where Payrexx has been based for exactly ten years. In the future, however, they will operate in Liechtenstein and lead the new Payrexx Europe AG from Vaduz. In July, the first wholly-owned subsidiary of Payrexx AG was officially established.

"With Payrexx Europe AG, we aim to strategically penetrate the European market, particularly the adjacent regions such as Germany and Austria," explains Ivan Schmid, CEO of Payrexx AG. "The goal is to establish our innovative all-in-one payment solution throughout the European Economic Area (EEA)."

Until then, there is still much to be done. "Currently, we are deep in paperwork," says Gerhard Häring, Managing Director of the new company. Although Thun and Liechtenstein are almost culturally identical – both surrounded by mountains, both crowned by a castle, both with a similar number of inhabitants – the devil is in the details. "Especially when it comes to the legal nuances, we must be very attentive."

This becomes noticeable, for example, when acquiring the license necessary for operating a payment institution. Obtaining this so-called Payment Institution License (PI) is very demanding, explains Helmut Bahamon, Senior Compliance Officer of Payrexx Europe AG: "But we are on the right track!" After six months of work, a preliminary application was submitted to the financial market authority in June. A more thorough examination and the final revision are still pending, but if all goes well, Payrexx Europe AG could celebrate definitive licensing later this year.

«Mit der Payrexx Europe AG wollen wir den europäischen Markt gezielt erschliessen, insbesondere die angrenzenden Regionen wie Deutschland und Österreich.»

Ivan Schmid

Liechtenstein as the perfect starting point

In the past ten years, Payrexx has established itself as a payment provider, particularly among Swiss SMEs. The solution is designed to provide merchants with everything they need to kickstart their business online. Those who already have an online shop can easily connect Payrexx with it and offer their customers all popular payment methods – whether TWINT, Mastercard, Visa, PostFinance Pay, Apple Pay, or Google Pay. And those who do not yet have an online shop can directly use Payrexx's sales tools to create simple donation forms, sales pages, or payment links. In addition, Payrexx is also advancing in the POS sector, for instance with the new payment app Tap to Pay and the upcoming card readers.

"The product is mature," summarizes Helmut Bahamon, "now we just need to present it to the European Economic Area." Liechtenstein is the perfect starting point: Not only does the principality lie geographically between Switzerland and Austria, but also in terms of language and legislation. Moreover, with a license in Liechtenstein, thanks to the freedom of services and establishment, one can operate throughout the EEA. This makes the state an attractive location for payment service providers or e-money institutions looking to operate across Europe. "With Liechtenstein, we get the best of both worlds," adds Gerhard Häring, "so to speak, both the chocolate bar and the bun."

«Mit Liechtenstein bekommen wir das Beste von beiden Welten – sozusagen das Schoggistängeli und das Weggli.»

Gerhard Häring

Swiss quality and global expertise

With their many years of experience in the financial market, the two prove to be ideal personalities to embark on this step together with Payrexx AG. The 62-year-old Gerhard Häring brings experience from both the IT sector and banking. In his previous roles for various international banks and consulting mandates, the native of Basel worked in numerous corners of the world. The 35-year-old Helmut Bahamon, meanwhile, was born in Moscow, grew up in Spain, and lived for a long time in Munich. Before Payrexx, he worked in both the automotive industry and the banking sector. The duo is thus not only professionally competent but also globally oriented.

"We are very pleased to have Gerhard and Helmut as a capable, innovative, and forward-looking duo at the helm of Payrexx Europe AG. Together, they will shape the future of Payrexx and optimally represent our vision," says Ivan Schmid, CEO and founder of Payrexx. He will also serve on the board of Payrexx Europe AG in the future, alongside Michael Müller and Thomas Feldkircher.

Their presence ensures that the valuable knowledge about the payment industry, gathered in Thun over the past years, will be transferred as best as possible to Liechtenstein and all neighboring regions. Thus, in Vaduz, the focus will ultimately be on the distribution and marketing of the product: Once the PI license is in place, more sales staff will be hired and the adjacent market actively pursued. However, the software itself will continue to be developed and optimized in Switzerland. Or, as the Liechtenstein duo puts it: "From Thun for the world!"