According to the press release, through the global agreement, the two companies will collaborate to launch a broad range of integrated, omnichannel banking services from Paysafe. Bankable provides a scalable and secure API and white-labelled platform which supports companies to deploy targeted solutions, drive revenues and reduce costs using its Banking-as-a-Service solution.
This will serve as Paysafe’s new core banking platform, providing the company with supporting technology to advance its payments infrastructure. This will in turn enable Paysafe to enhance the value-added services it provides to customers in specialised industries around the world.
Paysafe has previously collaborated with Bankable on its card issuing services including the roll out of prepaid cards for the British Red Cross in 2020. This latest development in the partnership is the first extension into the area of Banking-as-a-Service solutions.
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