May 15, 2024 12:25
To enhance financial services for customers across the UKand European Economic Area (EEA), OpenPayd, an embedded finance andBanking-as-a-Service (BaaS) platform, has announced a strategic partnershipwith Wirex, a Web3 money app. This collaboration aims to fortify easy, fast,and secure payment solutions.
Forging Alliance for Virtual IBAN Payments
Under the newly forged partnership, OpenPayd will facilitatethe issuance of named virtual IBANs to Wirex customers in over 30 countriesspanning the UK and EEA regions. These virtual IBANs will grant customersaccess to the Faster Payments network in the UK and enable Single Euro PaymentsArea (SEPA) Instant transactions for Euro-denominated deposits and withdrawals.
The integration of OpenPayd's services into Wirex'sinfrastructure will be seamless, leveraging OpenPayd's single,developer-friendly API. Wirex customers will be allocated unique, named IBANs,empowering them to effortlessly transfer EUR and GBP funds between their Wirexand traditional bank accounts. Transactions conducted via OpenPayd's SEPAInstant and Faster Payments networks will occur in real-time, ensuringround-the-clock availability and significantly enhancing the overall customerexperience.
At Wirex, we strive to bridge the gap betweenthe traditional and digital economies, so it's vital that our customers caneasily make and receive payments via SEPA Instant and Faster Payments.OpenPayds tech stack is not only state of the art and easy to integrate, itsalso proven at scale - processing millions of transactions monthly, said PavelMatveev, CEO and Co-Founder of Wirex.
Wirex chooses OpenPayd to launch embedded accounts across UK and EEA https://t.co/BzaRFZqEuJ
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May 14, 2024Enhanced Payment Options
By leveraging OpenPayd's expertise in embedded finance andBaaS solutions, Wirex aims to further streamline its payment ecosystem andreinforce its position as a frontrunner in the Web3 financial landscape.
The introduction of virtual IBANs represents a pivotaladvancement in Wirex's quest to provide its customers with versatile,user-centric payment options. With the support of OpenPayd's robustinfrastructure and extensive network reach, Wirex users can expect enhancedaccessibility, efficiency, and security in their financial transactions acrossborders and currencies.
High-growth digital assets businesses need reliable,scalable banking and payments partners to deliver a seamless user experiencewithout incurring delays or prohibitive fees, said Iana Dimitrova, CEO ofOpenPayd. Wirex is a trusted, established and growing player in the digitalassets market. Our reliable platform, with 99.99% uptime, will support Wirex inits mission to make cryptocurrency more secure, accessible and available toeveryone.
This article was written by Tareq Sikder at www.financemagnates.com.
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