Payment technology company Tribe Payments has partnered with digital bank Paytend in order to provide it with both issuer and acquirer processing services.
The partnership enables Paytend to issue payment cards, allows users to add cards to mobile wallets, including within Paytend’s own mobile banking app, and allows merchants to accept POS and online transactions.
Paytend is regulated by the Bank of Lithuania, and it provides digital banking services to consumers and businesses in Europe. Some of Paytend’s offerings include in-store and e-commerce acquiring, global remittances, and multi-currency accounts.
Tribe Payments is a modular technology provider for fintechs, banks, and acquirers, providing them with up-to-date payments services without losing speed or quality. Tribe’s cloud-based services provide improved flexibility and rapid speed to market, as well as the ability to scale and expand internationally.
Tribe Payments and its ISAAC core platform will give Paytend issuer processing and management capabilities for both virtual and physical Mastercard and Visa cards. Support for mobile wallet payments is also included via Paytend’s own mobile banking app.
Other Tribe Payments services include transaction monitoring solutions, tokenisation, and 3DS. Tribe’s technologies power in-store POS and ecommerce transactions for Paytend’s merchant customers, including tax-free shops, restaurants, and cosmetic stores throughout Europe.
In March 2022, Tribe Payments has announced the integration of the Discover Global Network into its API-led platform ISAAC to broaden scheme access.
Following the agreement, Tribe was able to process Discover, Diners Club International, and all affiliate network partner transactions for its acquiring customers. By integrating Discover, Tribe became the first modern processor to count for all six major international card schemes, including Amex, Mastercard, Visa, UnionPay International, and JCB.
Discover Global Network activates in over 200 countries and territories and accounts for 280 million cardholders and more than 60 million merchants. The US-based card issuer’s solution supports multi-currency processing, allowing customers to make payments in various currencies.
In July 2021, Tribe Payments announced a partnership with ClearBank to provide Tribe’s fintech customers with access to payment schemes. The integration allowed end-users to instantly send and receive funds from their account, as well as initiate salary payments via BACs, and set up Direct Debits.
Tribe Payments’ Bank Connect solution has been integrated with ClearBank’s API first platform. Bank Connect helps fintechs that have a card programme or digital wallets on Tribe’s platform to add banking services to their payment products.
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