Payments prepaid specialist Lerex Technology has selected Tribe Payments to provide issuer processing services.
The collaboration underlines ambitions in setting up a prepaid payment card product simple, even for businesses that are completely new to providing payment services to their customers.
Richard Ney, CEO, Lerex Technology, commented: “Like Tribe, Lerex brings a fresh approach to the market, with the best use of new technology underpinning our programme management, coupled with guidance based on a wealth of industry experience,
“Working with Tribe means both we and our customers have the flexibility and choice needed to put together innovative products—all built on reliable, resilient technology.”
In selecting Tribe, the firm will process card payments for Lerex’s customer’s end users across Europe. Tribe will be working alongside Lerex’s issuing partner Transact Payments Limited (TPL).
Tribe’s modular approach to technology allows Lerex, Transact Payments, and service providers looking to launch payment card products to add and remove functionality as demands dictate.
With a modern cloud-based and API-driven platform, Lerex rapidly deploys the latest technologies from agency banking, acquiring, and foreign exchange. Combined with Tribe’s modular and ‘disposable’ approach to service provision, businesses looking to offer prepaid services can easily evolve and enhance payment products for their end users without sacrificing speed, scale, and security.
Alex Kelly, VP of Customer Success at Tribe Payment, added: “Lerex and Tribe have many shared values, the key one being our commitment to making it simple for businesses in any vertical to offer innovative payment and banking services. By taking the technical headache away from Lerex’s customers, together we can help great businesses with innovative ideas get their products and services to market quickly without sacrificing quality.”
