My EU Pay, the financial institution that offers frictionless payments and FX to businesses, has partnered with ClearBank, the enabler of real-time clearing and embedded banking for financial institutions, to provide a range of banking services for their clients.
My EU Pay will use ClearBank’s API to “offer its customers real-time clearing, allowing them to access the UK Faster Payments Service and multi-currency services, which have been in demand with their customers for some time.”
Funds will be held in segregated Safeguarded Accounts “provided by ClearBank and ClearBank then holds all client funds at the Bank of England.”
Sarah Dees, CEO, My EU Pay said:
“My EU Pay is delighted to collaborate with ClearBank, as we expand our banking partners in line with our continued recent growth. We stand out in the market by offering our clients fast onboarding and a dedicated expert team on hand to serve their needs. Our customers have been asking for more multi-currency options, virtual IBANs, and a well-priced, effective FPS option, which we’re delighted to deliver in partnership with ClearBank.”
John Salter, Chief Customer Officer, ClearBank said:
“Our product offering has helped My EU Pay consolidate their providers whilst our scalable cloud platform and API integration has allowed them to grow their customer base rapidly since going live. We are pleased to be supporting them in expanding their client offering and look forward to the growth of our partnership.”
As covered recently, ClearBank, the enabler of real-time clearing and embedded banking for financial institutions, today announced it has expanded its partnership with PayDo, an Electronic Money Institution (EMI), offering personalised solutions to businesses and individuals with a suite of financial services.
The partnership with ClearBank will allow PayDo customers “to convert their transactions into 12 different currencies and gain access to the faster payments network.”
This step in the partnership means PayDo will “now process all GBP clearing through ClearBank.”
PayDo’s one-contract, one-dashboard product with “a suite of financial services is designed to facilitate fast and secure transactions.”
With the additional faster payment access enabled “by ClearBank, their customers can easily send money and make global transactions.”
