NEWS
NEWS
ClearBank launches embedded banking solution for SME credit card provider , Capital on Tap
ClearBank , the enabler of real-time clearing and embedded banking , has launched a new embedded banking service for Capital on Tap , the credit card provider for small businesses . The partnership will see ClearBank provide business savings accounts integrated directly into Capital on Tap ’ s existing user portal .
The new business savings accounts will be available to new and existing Capital on Tap customers . Businesses using the accounts will benefit from higher interest rates on their savings , as well as eligible deposits protected by FSCS .
Customers will be able to open a business savings account through the existing Capital on Tap portal , providing a seamless user experience . This gives customers the flexibility to deposit funds from their nominated bank account and earn daily interest , with the peace of mind that they can instantly withdraw the funds when they need them .
Alex Miles , Chief Operating Officer , Capital on Tap , said : “ As UK small businesses face growing pressures , we prioritised launching a high-interest savings solution to help our customers build financial security . We chose ClearBank as our partner for their proven track record in embedded banking and FSCS-protected savings accounts . Their understanding of our requirements enabled us to integrate these accounts in just over six months , accelerating our vision of becoming a comprehensive financial hub for SMEs .”
PayPal and J . P . Morgan Payments to launch Fastlane and expand merchant acquiring in European markets
PayPal Holdings and J . P . Morgan Payments have announced the expansion of their strategic relationship . J . P . Morgan Payments plans to offer Fastlane by PayPal for its merchant clients in the UK and Europe . In addition , PayPal is planning to expand merchant acquiring to businesses across the UK and European markets by leveraging J . P . Morgan Payments ’ industry leading Commerce Platform . This expansion will demonstrate how both companies are united in their mission to scale innovation and redefine the global digital commerce experience .
“ We are thrilled to mark an important moment in Fastlane ’ s journey as we expand outside the US for the very first time . The success we ’ ve seen in the US is showing how Fastlane can have a substantial impact on commerce ,” said Suzan Kereere , President , Global Markets , PayPal . “ As we join forces with J . P . Morgan Payments to scale this innovation across multiple markets , we are setting the stage for a smarter , faster and more secure commerce experience that empowers people and businesses worldwide while delivering exceptional value for our customers .” www . intelligentfin . tech
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