Financial startup Tribe Payments has partnered with digital challenger banking platform Starling Banking Services to provide its customers with real-time access to major UK and European payment schemes.
Tribe Payments launched at the start of June and comprises of personnel who have worked previously in the payments industry and are “dedicated to delivering the future of payments.”
Suresh Vaghjiani, CEO, Tribe Payments, explained: “In the Open Banking era, connectivity is king. Consumers want to choose how they pay and get paid and in real-time, with all the functionality of a full bank account.
“Banks, fintechs and payment providers have lacked access to these tools, with legacy systems resulting in complex integrations, delays and unreliable services. With Starling’s Banking Services, we can offer our customers the connectivity and tools to deliver powerful payment experiences via a single API.”
It provides all aspects of payments technology to businesses – primarily issuers and acquirers – that serve merchants and consumers using its modular platform ISAAC, which has been built from the ground up as modular and containerised.
The firm also lays claim to be Europe’s only issuer processor working alongside Mastercard, Visa and UnionPay.
Headquartered in London, Starling is a fully licensed and regulated bank, founded by former Allied Irish Banks COO, Anne Boden, in January 2014.
It was the first challenger bank to be a direct member of the Faster Payments Service (FPS) and its clients include: the Department for Work and Pensions, Raisin UK and CurrencyCloud, Pockit, PelicanPay and Vitesse.
Julian Sawyer, Head of Banking Services at Starling Bank, said: “Starling’s Banking Services continues its growth through our partnership with Tribe. Providing innovative businesses access to cutting-edge banking – both cards and bank to bank payments.”