What innovations are taking place in the payments space and how is this changing the customer experience? UKTN sat down with Guavapay’s Javid Mahmudzade to find out.
As the Chief Technology Officer at Guavapay, Javid plays a pivotal role in driving the company’s technological innovation and shaping its digital-first approach to global payment solutions.
What makes you excited about innovation in payments right now?
We are living in an era where financial technology is advancing at an unprecedented pace. The convergence of AI, blockchain, real-time payment networks, and embedded finance is revolutionizing how payments work. What excites me most is how these innovations are solving real-world problems—especially when it comes to financial inclusion.
At Guavapay, we are focused on breaking down barriers to financial access. Take our MyGuava App, for instance—it integrates digital wallets, instant cross-border payments, and business banking, providing financial services to users who may have never had access to a traditional bank. With the increasing adoption of API-driven payments, we are also enabling businesses to embed seamless financial solutions directly into their platforms. The potential is enormous, and we are only scratching the surface of what is possible.
Do clients and customers expect more from payments firms than just settling transactions?
Javid: Absolutely. Payments are no longer about moving money from point A to point B. Customers—both individuals and businesses—expect payments to be instant, secure, and integrated with value-added services.
For example, businesses do not just want to accept payments; they want embedded analytics, fraud detection and Foreign Exchange (FX) management and instant settlements, all within a single platform. That is why Guavapay’s MyGuava Business is more than a payments solution—it is an entire financial operating system designed to help businesses manage cash flow, invoice management, and streamline operations effortlessly.
For individuals, payments must be safe and frictionless. With features like biometric authentication for customer identification, AI-driven risk assessment during onboarding process, real-time world-wide payment from account-to-account, digital wallets and cash transfer to various countries, Guavapay ensures that users get a payment experience tailored to their individual needs – all at one place.
In terms of value-added service for individuals we provide gift cards for retail customers, cashbacks for select retail merchants. We also have additional functionalities for customers to interact with each other and create groups to enable collecting and spending money transparently.
How are payments businesses transforming into one-stop shops for clients?
The shift from payments providers to full-scale financial service hubs is one of the biggest transformations in the industry today. Businesses and individuals no longer want to juggle multiple providers—they need an all-in-one digital experience where they can manage transactions, financing, compliance, and financial planning in one place.
Guavapay has embraced this evolution through an ecosystem approach. We have built an infrastructure that integrates multi-currency payments, digital wallets, business cash-flow management, compliance tools, and even embedded financial services. Through our APIs, companies can integrate Guavapay’s services seamlessly into their own platforms, making financial services more accessible and efficient.
For example, a logistics company working with multiple suppliers across different countries can use MyGuava Business to settle payments in various currencies, manage payroll, and access competitive real-time FX rates—all from a single dashboard. That level of integration is what defines the future of payments. Additionally, the company can collect payments seamlessly using e-commerce solutions such as Pay-by-link (generate and send links via different channels like email, SMS or WhatsApp) or a dedicated payment page, enabling faster and more flexible transactions.
What benefits are there to customers for having current accounts with payments firms over traditional banks?
Traditional banks still play a role in the financial ecosystem, but they often lack the agility and user-centric approach that fintech firms offer. Payments firms, especially digital-first companies like Guavapay, are redefining current accounts by making them faster, smarter, and more accessible. Some key advantages include:
- Speed & Convenience: Opening a Guavapay current account is quite simple —no long paperwork, no unnecessary delays. Customers get access to their accounts within minutes.
- Global Reach: Unlike traditional banks that operate within specific geographies, Guavapay enables users to transact in multiple currencies across borders effortlessly.
- Open APIs & Seamless Integration: Open APIs enable businesses to integrate their current accounts directly with ERP systems, accounting software, payroll platforms, and e-commerce solutions. Companies can automate bulk payments, real-time FX conversions, and reconciliation with minimal manual effort. API-based access allows businesses to embed financial services into their own platforms, enhancing user experience.
- Support and Relationship Management: Unlike traditional banks that may have long wait times, fintechs offer instant support via live chat, phone, or email with shorter response times.
For high-volume businesses, payment firms also offer customized payment solutions and hands-on support to integrate with APIs. - Lower Costs & Better FX Rates: Guavapay provides competitive exchange rates and lower fees for international transactions, a huge advantage for businesses operating in global markets.
The future of financial services is digital-first, and payment firms are at the forefront of this revolution.
How many of MyGuava Business customers are expanding to use the full range of services that Guavapay provides?
We have seen tremendous growth in customers adopting our full suite of services. thousands of MyGuava Business users have expanded their engagement beyond basic payments to access features like cross-border transfers, business financing, and real-time FX solutions. Our MyGuava consumer app has also seen a surge in adoption, with hundreds of thousands of users leveraging its digital wallet, instant transfers, and financial management tools.
This reflects a broader trend—once customers experience the efficiency, cost savings, and convenience of a unified financial ecosystem, they are more likely to consolidate their financial activities under a single platform. Guavapay’s goal is to ensure that whether you are an entrepreneur in London, a freelancer in Istanbul, or a global e-commerce brand, you have everything you need in one place to manage your finances with ease.
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About Javid Mahumadzade
With a strong background in developing scalable financial systems, Javid has been instrumental in enhancing Guavapay’s product ecosystem, ensuring secure, efficient, and user-centric financial services. His leadership focuses on leveraging advanced technology to deliver seamless solutions for both consumer and business customers.
Javid holds a degree in computer science from Baku State University and is passionate about using technology to bridge gaps in financial accessibility and foster innovation in the payments industry.
About Guavapay
Guavapay – headquartered in London, UK offers end-to-end payments solutions for retail customers and business clients. Our comprehensive ecosystem of products has been built with a view to delivering a complete solution that caters for any and all payment requirements.
The MyGuava App is a universal financial tool that blends convenience, transparency and flexibility to meet the needs of global citizens, whether you’re on an international adventure or handling daily expenses. MyGuava Business is a payments solution provider for businesses of all size.
Guavapay Limited, a company registered in England with company number 10601900 and its registered address at Salisbury House, 29 Finsbury Circus, London, EC2M 5QQ, United Kingdom. Guavapay Limited is registered with the Financial Conduct Authority in the United Kingdom as a Small Electronic Money Institution with reference number 900888. Guavapay Limited’s ICO registration number is ZA274504.
