Cooperation directly with Swift, Visa and Mastercard allows our clients to be more flexible in payment operations
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.
Compliance at the core
With Magnetiq Bank, enjoy a BaaS experience that prioritizes
security and regulatory excellence in every transaction
Operate via EU banking license
Audit-ready transparency
Central bank oversight
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);
})
});
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A trusted banking partner
for innovators
Principal members
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, Fintech Hub LT and Fintech Poland.
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
Success through
collaboration
Every success story begins with close cooperation –
here’s what our clients say about working with us.
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?
BaaS allows non-banking businesses to offer financial services through licensed banks. Unlike traditional banking, where only banks provide services, BaaS enables companies—like fintechs or retailers—to integrate banking features directly into their products. This model opens up new revenue streams for businesses while letting customers enjoy seamless financial solutions, such as payments, loans, and digital wallets, without leaving their favorite platforms. Magnetiq Bank BaaS model supports this integration, offering a flexible and compliant way for businesses to deliver essential banking services.
What do you get with Magnetiq Bank BaaS solution?
Magnetiq Bank BaaS offers customizable banking tools such as payment processing, account management, all accessible through secure APIs.
What is BaaS for?
BaaS is ideal for fintech’s, startups, e-commerce platforms, and companies looking to integrate financial products into their offerings.
What benefits do BaaS providers offer to their clients?
BaaS providers let businesses embed financial services without becoming banks themselves. Magnetiq Bank offers licensed EU infrastructure, APIs for payments and safeguarding, and regulatory expertise — helping clients launch faster and grow with confidence.