Moorwand, a BIN sponsor and issuer, has been selected by deVere Group to provide issuing services and BIN Sponsorship for Vault, its multi-currency Mastercard, across 14 different European markets.
deVere Vault, one of the digital banking products offered by the deVere Group, is a mobile app paired with a multi-currency Mastercard. Vault offers five wallets denominated in four currencies: EUR, GBP, USD, and CHF.
Users can also store and exchange funds in an additional 22 currencies. The Vault app allows funds to be moved by bank transfer and SWIFT as well as via instant Vault-to-Vault wallet transfers to other Vault users. Users can top-up their Vault wallet using bank transfer or debit card load.
Moorwand will issue deVere’s multi-currency card to four different user groups: existing Vault wallet users, deVere Group clients using its insurance and investment products, deVere Group employees, and deVere Group companies for salary payments. As the BIN Sponsor, Moorwand will also provide deVere with a single compliant connection to the Mastercard payment scheme for global transaction processing and settlement of cardholder funds.
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