Banking Circle, B4B Payments partner for corporate payments

Monday 14 June 2021 13:26 CET | News

B4B Payments has selected Banking Circle to provide payments infrastructure for its corporate banking services, according to the official press release. 
Providing prepaid solutions to businesses for more than 15 years, FCA-authorised B4B enables organisations of any size to manage expenses, simplify payroll, reimbursements, and offer employee rewards and incentives. The new partnership with Banking Circle will enable B4B Payments to offer innovative, flexible, and time-saving solutions that eliminate antiquated finance and accounting processes. Initially, Banking Circle will provide virtual IBAN accounts for B4B clients as well as safeguarding services.

Banking Circle Virtual IBAN gives financial institutions such as B4B the ability to issue virtual IBANs in their customers’ names in a way that traditional banks would not facilitate due to risk and legacy systems limitations. The future vision of the two companies’ collaboration includes utilising Banking Circle’s multi-currency accounts, SEPA and SWIFT transactions solutions, and foreign exchange (FX) capabilities. Banking Circle will be removing the need for B4B to have a physical presence in each country in which its customers operate, yet deliver payment costs comparable to those of local banks in the region.

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Keywords: Banking Circle, partnership, Virtual IBAN, online banking
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech