- Tribe and Moorwand, two firms in the international money transfer sector, have announced that they have entered into an agreement with MultiPass, a challenger bank based in the UK.
- Together, the firms intend to create a payment card solution service aimed at corporate clients in Europe.
- “Combined with our multi-currency accounts, the corporate card solution we created with Moorwand and Tribe will provide even greater payment flexibility to companies with cross-border business activity,” said a senior figure at MultiPass.
Tribe and Moorwand, two names in the international money transfer industry, have announced a new joint solution with MultiPass.
Moorwand is a payments solutions provider and Tribe is a payments processor. The firms said that they have entered into an agreement with the UK challenger bank MultiPass.
Together, the companies intend to create a corporate payment card solution service.
The target market is expected to be business clients that are operating at a corporate level in Europe.
It is expected that the clients who already have a presence on the MultiPass platform will be able to procure physical cards via their online profiles. However, virtual cards will also be available, press reports said, and card management will be possible via the firm’s existing payments platform.
It is thought that the service will apply to clients based in a number of countries, including Ireland, the UK and Hungary. Other firms in the EU are also thought to be set to benefit.
“We acknowledged the need communicated by our customers, and we are happy to deliver,” said Konstantin Zaripov, the managing director of MultiPass.
“Combined with our multi-currency accounts, the corporate card solution we created with Moorwand and Tribe will provide even greater payment flexibility to companies with cross-border business activity,” he explained.
“We are now a step closer to becoming a one-stop shop for all international business banking needs.”
For Moorwand, meanwhile, the chief commercial officer, Luc Gueriane, praised the growth that MultiPass had shown in recent times.
Gueriane pointed out that the firm had hundreds of millions of euros of transactions under its belt.
“MultiPass has shown impressive growth over the past year, having processed over €800m worth of transactions,” he said.
“We are happy the company has chosen us to reinforce their multi-currency payment product and I am certain this development will allow their customers for a better, faster and more convenient transfer service.”
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