Moorwand, Tribe and MultiPass form strategic partnership

London-based challenger bank MultiPass, which specializes in cross-border payments in multiple currencies, has entered into a strategic alliance with Moorwand and Tribe Payments.

MultiPass was launched in 2017 as part of the Dyninno Group and offers smart financial solutions, such as current accounts and global currency operations. The challenger also offers a single account for multiple banking needs to cover all global business operations.

A new strategic partnership for card payments

The new partnership will see MultiPass offer BIN sponsorship and issuing services, and Tribe Payments, launch corporate payment cards. Meanwhile, Moorwand Digital Banking provides the ability to make and receive payments using Moorwand’s digital payment platform.

Reports suggest that the technical processing infrastructure as well as 3D Secure and risk monitoring functions for the card issuance project are being handled by Tribe Payments – a modular and future-proof payment technology provider. Certified to offer Visa, Mastercard and UnionPay, Tribe also offers a secure and scalable solution, giving MultiPass access to a wide range of technical opportunities for innovation and growth.

Alex Reddish, CEO of Tribe Payments, explained: “The cross-border business banking space is an important and exciting area of ​​fintech – we are proud to help MultiPass bring these new services to market quickly in response to customer demand.”

New card offers via MultiPass and Tribe

According to reports, both virtual and physical cards can be ordered, activated and fully managed by customers within the MultiPass payment platform.

The solution, executives say, streamlines the management of international finances for MultiPass customers by giving them an additional method of making online purchases.

The cards will enable the holder to pay for travel bookings, web services, business subscriptions and manage other day-to-day expenses. Prepaid cards are also available in GBP and EUR to companies registered in the UK, Ireland, Czech Republic, Hungary and several other EU countries.

Speaking about the partnership, Konstantin Zaripov, CEO of MultiPass, said that the card launch has already been in great demand. “We recognized the need communicated by our customers and we are happy to deliver. 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. We are now one step closer to become a one-stop shop for all international business banking needs.”

Luc Gueriane, Chief Commercial Officer at Moorwand, explained: “MultiPass has shown impressive growth over the past year, having processed transactions worth over €800 million.”

He added, “This just goes to show the necessity of the service. We are delighted that the company has chosen us to enhance their multi-currency payment product and I am sure that this development will provide their customers with a better, faster and more convenient transfer service .”