Currencycloud and Tribe Payments are partnering on a new “Banking-as-a-Service” solution for Fintechs and digital banks, according to a note from the company.
Currencycloud is a global, multi-currency account provider where customers are able to collect, convert, pay, and manage multiple currencies, anywhere in the world. Launched in 2012, Currencycloud reports that it has processed more than $65 billion to over 180 countries, working with banks and Fintechs around the world, including Starling Bank, Revolut, Penta, and more.
Tribe Payments is a payments tech provider for banks, Fintechs, etc and is Europe’s first issuer and acquirer processor working with Mastercard, Visa, JCB, and others.
The two companies explain that the partnership has been developed to give Tribe Payments partners access to real-time, wholesale FX rates. Tribe Payments will also offer unique, named virtual accounts in 35 currencies, enabling the ability to receive, store funds, and make payments to almost anywhere in the world via Currencycloud Spark.
Stephen Lemon, Head of Strategic Partnerships and co-founder, Currencycloud said the partnership with Tribe payments is helping digital banks and Fintechs gain access to a wholesale and easy solution to enhance their customers’ experience.
Alex Reddish, Chief Commercial Officer, Tribe Payments said:
“At Tribe Payments, we are on a mission to make payment processing simple and secure, while letting our partners scale quickly. So, this partnership with Currencycloud is perfect as it gives increased scalability to our partners, ensuring they are growing their competitive advantage. We are really looking forward to growing this partnership to mitigate our customers pain points.”
The two firms said they will continue to evolve the partnership. The integration on FX is expected to be available in Q4 2020.