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Located in the heart of Stockholm’s financial district, surrounded by financial institutions, Tortoras office looks more like a loft than a penthouse. But don’t judge them by their size. TorTora might be a small fish in a large pond, but they have big plans.

Anders Jonson, CEO, explains how.

“When scanning the market for financial transactions, we discovered a potential disruption. Today, some retailers are seen as a risky business by their banks, and are charged accordingly. The acquiring fee can be a staggering seven percent, witch severely affects their net income. Sure, there will always be a risk for chargebacks and fraudulent behavior, but why penalize one part, when the whole system lacks transparency?” 

Robert Eirfjell, COO, answers how:

“By developing a different method for collecting and processing transaction data – who, where, and when, we realized that TorTora could eliminate fraudulent schemes, and thereby lower the risk. This lead to our first product, Risk Reducing as a Service, planned release Q2 2020.” 

He continues. “To ensure a lower risk for our clients and their clients, we include insurance in all our services. The insurance makes sure that we financially always can cover our clients’ financial risks connected to our service”. 

Riccardo Penzo, PO, share his colleagues confidence

“We believe that our solution will be the most solid in the retail market, detecting and proving fraudulent behavior.” 

“But there is more”, says Anders. “The same method could also be applied on the process for advanced payments. And this lead to our second product, Conditional Prepaid as a Service”. 

Robert explains. “Advance payments have become more uncertain in recent years, not least due to the pandemic’s global effects. Our service prevents transactions from being fully completed until the product is delivered. The payment is put on hold until both parties agree on the terms. Something the travel industry, among others would welcome. Our planned release is set to Q3 2021.” 

Why don’t traditional institutions offer this service? 

“Probably because they have a traditional mindset”, says Riccardo. “We couldn’t find a suitable technical platform, so we developed our own, together with PWC Experience Center and PWC Ireland. Our products are benchmarked, and audited by external partners, and the results are simply amazing.” 

”Insured transactions ensure lower risks for all parties”, says Robert. 

And this is where TorTora can level the game. 

”We add fair play to transactions”, says Anders. ”Given the volume of financial transactions, services like ours will have a massive impact on the market.”