Gerhard Häring and Helmut Bahamon are still standing on the shores of Lake Thun, where Payrexx has been based for exactly ten years. However, in the future, they will be operating in Liechtenstein and will manage the new Payrexx Europe AG from Vaduz. In July, the first fully owned subsidiary of Payrexx AG was officially founded.

"With Payrexx Europe AG, we aim to strategically penetrate the European market, particularly the neighbouring 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)."

But there is still quite a bit to do before we get there. "We are currently deep in paperwork," says Gerhard Häring, CEO of the new company. For even though Thun and Liechtenstein are culturally almost identical – both surrounded by mountains, both crowned by a castle, both with a similar number of inhabitants – the devil is in the details. "Particularly where the legal subtleties are concerned, we have to look closely."

This becomes apparent, for example, when acquiring the approval necessary to operate a payment institution. Obtaining this so-called Payment Institution Licence (PI) is, however, very laborious, explains Helmut Bahamon, Senior Compliance Officer of Payrexx Europe AG: "But we are on a good path!" After half a year's work, a preliminary application was submitted to the financial market authority in June. A more precise examination and the final revision are still pending, but if everything goes well, Payrexx Europe AG could celebrate its definitive licensing 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

Over 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 necessary to successfully launch their business online. Those who already have an online shop can easily connect Payrexx with it and offer their customers all popular payment methods for payment – 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. Moreover, Payrexx is also currently advancing in the POS area, for example with the new payment app Tap to Pay as well as the upcoming card readers.

"The product is mature," summarises Helmut Bahamon, "now we just need to present it to the European Economic Area." Liechtenstein is the perfect starting point: Not only is the principality geographically located between Switzerland and Austria, but also in terms of language and legislation. Furthermore, with a permit in Liechtenstein, thanks to the freedom of services and establishment, it is possible to operate throughout the entire EEA. Therefore, the country is an attractive location for Payment Service Providers or E-Money Institutions to operate throughout Europe. "With Liechtenstein, we get the best of both worlds," adds Gerhard Häring, "so to speak, the chocolate stick 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 years of experience in the financial market, the two prove to be ideal personalities to take this step together with Payrexx AG. The 62-year-old Gerhard Häring brings experience from both the IT and banking sectors. In his previous roles for various international banks and consulting mandates, the Basel-born worked in many corners of the world. The 35-year-old Helmut Bahamon, on the other hand, was born in Moscow, grew up in Spain, and lived in Munich for a long time. Before Payrexx, he worked in both the automotive industry and the banking sector. This duo is not only technically adept but also globally oriented.

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

Their involvement ensures that the valuable knowledge about the payment industry, which has been accumulated in Thun over the past years, is transferred to Liechtenstein and all neighbouring regions in the best possible way. Ultimately, in Vaduz, it is primarily about the distribution and marketing of the product: Once the PI licence is in place, additional sales staff will be hired, and the neighbouring market actively approached. The software itself will continue to be developed and optimised in Switzerland. Or, as the Liechtenstein duo puts it: "From Thun for the world!"