Tribe Payments partners with ClearBank to enhance banking access
UK based payment technology provider, Tribe Payments has announced a partnership with cloud-based clearing bank, ClearBank. Under this partnership, Tribe Payments will provide its fintech clients access to payment schemes leveraging ClearBank’s banking and banking-as-service product sets.
According to the press note, Tribe Payments claims that this partnership will strengthen its Bank Connect solution by ‘allowing its fintech clients to quickly and easily integrate Faster Payments, CHAPS, BACS and Direct Debit payments”. The integration will allow end-users to instantly make and receive funds from their account, as well as initiate salary payments via BACs, and set up Direct Debits.
“Fintechs need access to banking systems to create more powerful convenience-driven customer propositions,” said Alex Reddish, our Chief Commercial Officer. “Bank Connect helps to standardise access to these banking systems, cutting out complexity and unnecessary third-parties”.
Bank Connect solution has been integrated into ClearBank’s API first platform and with this fintech clients using Bank Connect would be able to offer their respective clients Faster Payments which is real-time payments for transactions up to up to £250000, CHAPS, BACS and Direct Debit.
Tribe Payments is a payment technology provider to banks, fintechs and businesses that wants to offer payment services to their respective merchants and consumers. The company offers digital wallets, access to banking systems and rails and a payment gateway. ClearBank is regulated by the FCA as a deposit-taking institution in the UK.