Despite all the progress in digital payments, everyday transactions still break down too easily. Lost cards, stolen identities ,dead batteries, forgotten PINs—most payments still rely on what we carry. The problem stems from the systems that are built around tools, not people.
This gap between identity and access had long remained unaddressed, hitherto a visionary put people at the center of every transaction.
Mara Vendramin (CEO of MyMoney) addressed this gap with a groundbreaking solution. In a candid conversation with The Enterprise World, Mara shared her insights on the company, its services, as well as her leadership philosophy. Here are some excerpts from the fascinating conversation:
1. What inspired you to start this company, and what has been your biggest challenge in leading it to where it is today?
My inspiration to start MyMoney stemmed from a deep frustration with the inefficiencies and vulnerabilities of existing payment systems. After years in the telecom and fintech sectors, I realized how disconnected identity verification was from financial transactions. The moment that truly sparked MyMoney’s birth was understanding how biometric technology could eliminate fraud, streamline access, and promote inclusion. One of the core problems we aim to solve is the escalating threat of stolen identities, which are increasingly exploited in AI-driven fraud. By linking payments to a person’s unique biological traits, we remove the reliance on credentials that can be lost, stolen, or cloned. Our biggest challenge has been educating stakeholders about the uniqueness of a device-free, multi-biometric payment system—especially in a world accustomed to cards and smartphones.
2. What were the initial challenges you faced?
The main challenge was deploying biometric infrastructure in physical locations, unlike app-based systems. Educating the market on the advantages of multi-modal biometrics—beyond just fingerprints—was also critical. However, our partnerships with leading acquirers, PSPs, and biometric hardware producers helped accelerate adoption. Today, we can even enable biometric recognition and payments through standard cameras, reducing hardware dependency and simplifying deployment.
3. Which was that point that triggered the growth of the company?
Our turning point was our partnership in Egypt, where we integrated with Fawry and reached over 300,000 users. This large-scale validation demonstrated our scalability and opened doors in both the MENA region and Europe.
4. Tell us about the company.
MyMoney is an innovative, patented payment system that leverages multi-biometric technology to enable completely device-free transactions. Our system allows users to pay using only their unique biometric identity—whether it be facial recognition, fingerprint, palm vein,—eliminating the need for physical cards, smartphones, PINs, or passwords. We are redefining how people interact with financial systems by removing friction, enhancing security, and promoting financial inclusion.
What makes MyMoney stand out is its ability to generate a unique digital biometric identity that cannot be forged or cloned, offering a revolutionary level of protection against identity theft and fraud. Designed to combat identity fraud and promote financial inclusion, MyMoney is already operational with over 300,000 users and is expanding across multiple sectors including retail, hospitality, transportation, and healthcare.
Our approach is radically inclusive. By removing the dependence on physical devices and offering a seamless, intuitive user experience, MyMoney brings inclusion to people who are often left out of traditional financial systems—such as the elderly, the unbanked, or individuals in technologically underserved areas. We are particularly focused on markets where technological gaps and identity fraud pose major barriers to secure and efficient payment processing. From emerging economies with low smartphone penetration to advanced regions aiming to elevate customer experience and reduce fraud, our solution scales across use cases and geographies.
5. What are the products and services that your company specializes in?
At MyMoney, we specialize in cutting-edge biometric payment solutions designed to redefine the way people pay—making transactions faster, safer, and more inclusive. Our flagship product is a multi-biometric, device-free payment system that uses facial recognition, fingerprint, or palm vein authentication to initiate and complete payments without the need for cards, phones, or PINs.
Our core system is designed to integrate seamlessly with existing POS systems and acquirers, ensuring minimal disruption to merchant operations while delivering maximum security and user convenience. The technology is secure, robust, scalable, and interoperable, allowing seamless integration across a wide range of environments including retail, hospitality, transportation hubs, and healthcare facilities.
Beyond our core offering, we provide white-label solutions for banks, fintech companies, and payment service providers who want to embed biometric authentication into their own ecosystems. These solutions can be fully customized to match their branding, compliance needs, and customer base.
Our roadmap also includes a strong focus on regulatory enablement. We are actively working toward securing at least a PISP (Payment Initiation Service Provider) license, which would allow us to expand our services within the open banking landscape—enabling direct payment initiation from bank accounts while maintaining biometric security.
What sets us apart is that we are not just offering an authentication layer—we are delivering a full payment experience, built on biometric identity, backed by patented technology, and optimized for both high-tech and low-tech markets.
6. What is your leadership philosophy, and how do you ensure that it is reflected throughout your organization?
My leadership philosophy is rooted in clarity, accountability, and trust. I believe that leaders should not simply dictate direction but should inspire and enable others to contribute meaningfully. I strive to create an environment where people feel empowered to take ownership of their work while being aligned with a strong and coherent strategic vision. Clarity is essential—everyone on the team should understand not only what we are doing, but why we are doing it. I ensure that our goals are well-defined and transparent, so each person knows how their contribution fits into the bigger picture. Accountability naturally follows: we are all responsible for our own progress and outcomes, and I lead by example in that regard.
7. How do you balance the need to innovate and take risks with the need to maintain stability and profitability?
At MyMoney, we don’t view innovation and stability as opposing forces—they are two sides of the same coin. Sustainable innovation requires a foundation of operational discipline, just as long-term stability depends on a company’s ability to evolve. We’ve built a culture and process where creativity and pragmatism go hand in hand.
We follow a structured innovation framework: we start small—run a proof of concept, test scalability, and validate early with real users in real environments. Every idea must solve a real problem and prove its viability—technologically, economically, and from a user experience standpoint. We also evaluate risks through both technical and business lenses. Legal compliance is built into our development cycle (GDPR, PCI, etc.), and we mitigate hardware risks by offering multi-vendor compatibility and fallback options like mobile authentication.
This approach allows us to innovate boldly while minimizing unnecessary risk and maintaining profitability.
8. How do you identify and develop the talent within your organization, and what role do you see mentorship playing in this process?
At MyMoney, we believe that great companies are built by great people, and our approach to talent reflects that belief. While technical skills are important, we prioritize mindset over résumé. We look for individuals who are passionate about innovation, resilient in the face of challenges, and forward-thinking enough to see beyond what’s currently possible. We want people who are not just capable, but curious—those who question the status quo and are excited to help build something transformative. Our hiring process is designed to evaluate both capability and cultural fit. We pay close attention to how candidates think, how they handle ambiguity, and how willing they are to grow beyond their current roles. Once onboard, we actively create space for people to take ownership—giving them real responsibility from day one, encouraging them to lead initiatives, and learn by doing.
9. How has the technology helped your customers for a seamless experience?
Our technology eliminates friction at checkout by removing the dependency on physical cards, mobile phones, or apps. Users don’t need to carry anything—just scan their biometrics and pay instantly. That alone changes the game—no more forgotten wallets or fraud by stolen identities. This patented, device-free approach enhances accessibility for the elderly, the unbanked, and users in low-tech regions, making access truly universal. It also reduces queue times, prevents identity fraud, and offers merchants higher throughput with fewer fraud-related chargebacks.
10. How have the company graphs changed since the foundation? Can you share a few statistics? (You can share the charts/graphs here).
Since launch, we’ve grown from pilot phase to commercial rollout in hospitality and retail. We’ve reached over 300,000 users in our first large-scale deployment. We’re now projecting over 1 million users by next year, with two new launches in Italy and a POC underway with Mastercard EMEA.
11. How do you stay innovative and competitive in your industry, and what strategies do you use to adapt to changing market conditions and customer needs?
We stay close to the customer. Every quarter we run structured interviews and collect in-store feedback. On the tech side, we constantly update our biometric engine to improve speed and accuracy, and we’re exploring AI-driven fraud detection. Strategic partnerships with acquirers help us scale efficiently.
12. Can you describe a recent successful product launch or business expansion, and what factors contributed to its success?
Our hospitality deployment in Egypt was a major milestone. We launched biometric payments across the entire resort ecosystem—from restaurants to beach clubs. The success came from deep integration with existing POS systems, on-site training, and strong local partnership with Fawry.
13. What is the reason behind your company’s long-standing success?
Focus. We didn’t try to solve everything at once. We started with a clear problem—fraud and friction in payments—and built a solution that works in real environments. Our early investment in proprietary technology, coupled with strategic partnerships, allowed us to stay ahead of competitors.
14. How do you decide to take the company a step further in terms of your products/services?
We continuously analyze user behavior, transaction patterns, and sector-specific needs and new trends. When we see a recurring friction point, we explore how our biometric system can solve it. That’s how we expanded from retail to hospitality, transport, and healthcare—by listening to real-world needs and adapting accordingly.
