Paynetics partners with ClearBank to provide real-time execution of transactions
This exciting collaboration allows Paynetics’ core banking system to seamlessly integrate with ClearBank’s API for near real-time access to its services and solutions. It allows the e-money regulated platform to create brand new services in less than eight weeks, and process payments immediately.
ClearBank is a purpose built, standalone clearing bank, that can process payments instantly and securely. And it is the first clearing bank to be introduced in the UK in over 250 years. By joining forces with ClearBank, Paynetics is able to benefit from the clearing bank’s banking licence and robust technology solutions. It is also able to develop improved services that speak to changing customer needs.
Mike Peplow, CEO at Paynetics said: “The payments industry is continuing to evolve so we need a partner who is prepared to invest and move as quickly as Paynetics – we have that partner in ClearBank. We operate at a very high standard, requiring multi-currency accounts, real-time access to banking payments, and a highly reliable and scalable platform. We are always looking for innovative ways to improve our solution offering. In order to provide customers with only one integration point to access, it is important that we are able to manage and control everything via API’s from our payments platform, and ClearBank is the perfect partner to do that with.
Working with ClearBank allows Paynetics to continue to offer its innovative range of banking as a service solutions to customers across Europe, with increased efficiency and security. Customers will now benefit from services such as access to real-time faster payments, BACS and CHAPS payment rails. Consumers want payments to be made simple, secure, and convenient, and so it’s important that we deliver a service that meets these needs.”
Charles McManus, CEO at ClearBank said: “ClearBank was built to make transactions faster and easier, whilst maintaining the level of protection for their money that customers expect, so we’re delighted to be working with Paynetics to provide them with exactly that. Our unique API and banking licence allows us to offer real-time payments and access to BACS and CHAPS payment rails to our partners, with seamless system integration, removing the hassle of typical software integration processes.
“We’re confident that our partnership with Paynetics will help them to delight customers with more rapid, more secure payment services and look forward to continuing our work with them.”