By Oliver Smith on Thursday 1 July 2021
Also adding CHAPS, BACS and Direct Debits to its payments line-up.
Payments provider Tribe is adding a host of new features for its fintech customers via a tie-up with banking-as-a-service provider ClearBank.
Tribe Payments will launch Faster Payments, CHAPS, BACS and Direct Debits for its customers as part of the partnership, on top of its existing issuing and acquiring processing.
“Fintechs need access to banking systems to create more powerful convenience-driven customer propositions,” said Alex Reddish, chief commercial officer at Tribe.
“Thanks to our collaboration with ClearBank, we can add vital payment functionality through a single API integration, giving firms the ability to provide their customers with choice, plus the chance to expand their reach, and reduce cost.”
Plus the partnership goes both ways, Tribe’s customers will also have the ability to add any of ClearBank’s banking services to their products, all enabled through Tribe’s Bank Connect APIs.
“These systems and rails were once the preserve of the few, but our partnership with Tribe means that more service providers can now utilise the payments schemes they need to drive innovation and competition in the market.”
Last year Tribe signed a similar agreement with CurrencyCloud, that time letting it offer international card transactions in 35 currencies, whilst also offering access to multi-currency wallets.