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Kani honored at 2024 Payments Awards

Tuesday, November 19, 2024 — 13:42:21 (EST)

Kani Wins ‘Payments Compliance Technology of the Year’ at 2024 Payments Awards

Award recognises innovative solution addressing payment firms’ compliance challenges.

Newcastle upon Tyne, UK. 19 November 2024– Kani Payments, the disruptive global data reconciliation and reporting platform, has been crowned Payments Compliance Technology of the Year at the Payments Awards 2024 for its innovative QMR and GOC reporting solution. This recognition comes as Kani’s latest industry survey reveals that 64% of payment firms spend excessive time preparing data submissions for Mastercard and Visa.

The judges praised Kani Payments for enabling “payment firms to comply with their submissions to card schemes in a timely and cost-effective manner,” further validating its mission to simplify reporting for payments businesses globally.

Aaron Holmes, CEO of Kani Payments, said: “This award is a testament to the incredible hard work of our team, who have continuously evolved our QMR and GOC solution to meet changing industry needs. At Kani, our goal has always been to simplify these critical but challenging processes for our customers, and this award validates that goal. It’s an honour to be recognised among such strong industry peers.”

Addressing a critical industry challenge

The Mastercard QMR (Quarterly Mastercard Report) and Visa GOC (Global Operating Certificate) reports are comprehensive data submissions required by card schemes from businesses involved in payment processing. These reports are often complex and time-consuming—something founder Aaron Holmes experienced firsthand during his tenure with major processors.

Kani’s recent survey of 250 UK-based payments businesses confirms the urgency of addressing reporting issues: 64% frequently encounter data errors in QMR/GOC submissions, and one-quarter face persistent challenges working with multi-format data. Since 2018, Kani’s automated platform has become the go-to for businesses to address reporting pain points, reclaim 150 hours of manual effort annually and ensure 100% compliance with Mastercard and Visa formatting requirements.

As Kani continues to grow, it has expanded its support to a diverse client base, including start-ups, scale-ups, and major players such as Sodexo, Pismo, Earthchain, CLOWD9, and Frost. Having also participated in the prestigious Mastercard Start Path and FIS Accelerator programs, Kani Payments is an established industry leader in solving complex data challenges for payments and fintech businesses.

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Notes to the editor     About Kani Payments

Established in 2018 in Newcastle, UK, Kani Payments is a reconciliation, reporting, and analytics platform designed to reduce data complexity for payments and fintech businesses.          

Named ‘Europe’s Leading Financial Services or Payments Start-up’ by the Emerging Payments Association in 2019, and having since been selected for the Fintech Power 50, Mastercard Start Path Global programme in 2022 and FIS Fintech Accelerator programme in 2023, Kani’s clients include fintechs, challenger banks, established banks, electronic money issuers, and gift card providers.         

For more information, please visit: kanipayments.com/.      

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Source: Company press release.