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This past month, our CEO Daniel Döderlein presented on a panel discussion about the future of cashless payments at Bucharest Tech Week, Romania’s largest technology festival.

This panel comes off the back of our rapid investment in the Romanian market. In the past month alone, we have hired a host of new talent in the Product and Technology team to ramp up the development of the Settle app ahead of launch. The team of developers will be based out of a new office space in Bucharest’s city centre. The expansion of our team and office internationally reinforces our commitment to the Romanian market and to local talent.

As part of the panel, Daniel spoke of our future launch plans, with Romania being a top market for us in the coming months. He says:

“Romania is still a large cash culture – consumers and business owners have a lot of payment pain points that Settle will solve. For example, our research clearly shows Romanian businesses struggle with cash handling and connecting with new customers. These are resolved with Settle which will empower businesses to safely and securely handle digital money, ultimately creating more business revenue.”

Daniel also talked about the importance of a local team and local office:

Unlike international mobile payment apps, Settle will be run out of Europe and its local entities are the primary beneficiaries of its profits. The majority of revenue will flow into the Romanian entity, ensuring we help create more jobs, wealth and drive innovation locally.

“This is particularly important to us, which is why we have invested in a local office with a local team. We are committed to each launch market and we believe Romania has the potential to become the next cashless society.”

To find out more about mobile payment trends and behaviours in Romania, you can download the report here: