This week, Finovate World travels to Lithuania to speak about fee card optimization with Torus’ Kirill Lisitsyn.
The fee card enterprise is among the many best areas of economic providers. However are a few of the biggest alternatives for corporations to revenue being neglected? A rising variety of fintechs have developed methods and applied sciences to assist card issuers and acquirers entry thousands and thousands of {dollars} in price financial savings and missed income by higher controlling card community charges and enhancing transactional profitability.
Lithuania-based Torus is one such fintech. Based in 2021 and making its Finovate debut at FinovateEurope 2024, Torus presents a SaaS intelligence platform for banks and acquirers that enhances earnings on card transactions by as much as 50%. The corporate allows card issuers and service provider acquirers to optimize card scheme charges and increase transactional earnings by way of pricing optimization and profitability evaluation on the card and service provider stage.
To debate this discipline, and the alternatives it presents for card issuers and service provider acquirers, we caught up with Torus Co-Founder and CEO Kirill Lisitsyn (pictured). Lisitsyn brings to bear greater than 15 years of expertise main funds consulting initiatives at corporations comparable to Accenture and Mastercard.
Torus most just lately demonstrated its expertise on the Finovate stage at FinovateEurope in February.
What drawback does Torus resolve and who does it resolve it for?
Kirill Lisitsyn: Torus is a SaaS platform for in-depth evaluation and optimization of scheme charges (Visa, Mastercard) for issuers, service provider acquirers, and now massive retailers. We automate the gathering, forecasting, and reconciliation of each transaction flows and bill information, in order that our shoppers can see correct price and revenue metrics on the stage of transaction, product, service provider, area—and past.
How does Torus resolve this drawback higher than different corporations or options?
Lisitsyn: We offer practically 98% charge prediction accuracy, and our plug-and-play setup allows end-to-end analytics with minimal assets wanted from the shopper facet. Torus goes past fairly dashboards to ship optimization suggestions backed by business benchmarks and detailed “what-if” simulations.
Who’re Torus’ main prospects. How do you attain them?
Lisitsyn: Our shoppers embrace banks, fintechs, BaaS suppliers, PSPs, and enormous retailers throughout Europe, the UK, Central Asia, and Japan. We attain them by way of focused outreach, business conferences, high-visibility publications, and strategic partnerships with top-tier business gamers.
We’re additionally constructing a neighborhood round card economics. I run a LinkedIn web page the place I share insights on scheme charge mechanics, evaluation pitfalls, and market updates.
Many consumers come to us after seeing only one quantity: $1M+ in annual losses that might be averted with higher visibility.
Are you able to inform us a few favourite implementation or deployment of your expertise?
Lisitsyn: One EU-based e-commerce acquirer used to evaluate profitability by portfolio averages—and was shedding as much as 10% on hidden merchant-level losses. With Torus, they switched to granular evaluation, recognized low-margin segments, up to date pricing, and elevated general portfolio margin by 30%. These are actual, realized good points—not slideware.
What in your background gave you the arrogance to deal with this problem?
Lisitsyn: Now we have productized over 100 years of joint crew experience within the card funds business—coming from completely different segments of the business, gamers like Mastercard, World Funds, Societe Generale, Worldline, and numerous different banks. That is our unfair benefit which provides us a deep understanding of the place the ache factors are. When your crew contains former scheme insiders, “scheme charges” cease being scary and begin changing into manageable.
What’s the fintech ecosystem in Lithuania like? What’s the relationship between fintechs, banks, and conventional monetary providers corporations in Lithuania?
Lisitsyn: Lithuania is a magnet for fintech startups: a responsive regulator, fast-track licensing, and tech-forward infrastructure. Banks listed here are more and more open to partnerships, and startups are studying to scale responsibly and function beneath real-world pressures.Â
Torus is a superb instance of how legacy banking know-how and fintech velocity can mix into one thing highly effective. We’re proud to each actively contribute to the Lithuanian ecosystem and characterize it internationally.
You demoed at FinovateEurope earlier this 12 months. How was your expertise?
Lisitsyn: This 12 months we demoed our product for BaaS suppliers. We showcased how Torus allows these gamers to precisely calculate scheme charges and interchange per transaction, allocate prices, and construct margin-based pricing for his or her fintech companions.
We demonstrated that BaaS can transfer past quantity video games and grow to be a margin sport.
Finovate is constructed for exhibiting working merchandise to actual decision-makers—and our demo generated a number of extremely related inbound requests for our BaaS module.
What are your objectives for Torus? What can we count on to listen to from you within the months to return?
Lisitsyn: We’re scaling quick. This 12 months contains a number of product launches and main characteristic updates. Only a month in the past, we launched our new product, Service provider Value Indicator—a instrument that estimates transaction prices with no need actual information. It predicts interchange and scheme charges primarily based on nation, MCC, and channel, giving acquirers and BIN sponsors prompt, dependable margin calculations.
Coming subsequent is a dynamic profit-based pricing module, embedded analytics for BaaS, and AI brokers to assist profitability management, pricing and choice workflows.
We’re shaping a brand new commonplace of transparency and profitability controls in card economics. Our energy lies in combining deep business experience with true product velocity. We all know the place the market is heading—and we’re already transferring to clear the trail.
Right here is our take a look at fintech innovation around the globe.
Latin America and the Caribbean
Asia-Pacific
The Inventory Alternate of Thailand introduced deployment of threat and surveillance platforms courtesy of its expanded strategic expertise partnership with the Nasdaq.
Adyen chosen Fiskil as its data-sharing associate to reinforce onboarding and account verification for retailers in Australia.
Vietnam-based securities firm Kafi went reside with Horizon Buying and selling Options.
Sub-Saharan Africa
Central and Japanese Europe
Center East and Northern Africa
Israel-based BioCatch and The Knoble co-launched an anti-scam information and value calculator.
MENA-based digital property buying and selling platform BitOasis expanded to Bahrain.
The federal government of Dubai partnered with Crypto.com to allow crypto funds for presidency charges.
Central and Southern Asia
Forbes profiled Razorpay co-founder Harshil Mathur.
Pakistani fintech ABHI partnered with UAE-based LuLuFin to reinforce monetary inclusion and remittance options.
Indian fintech unicorn Moneyview readies for an preliminary public providing.
Picture by Maksim Shutov on Unsplash
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