RYVYL Inc., a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation to conduct payment transactions, announced it has entered into a strategic partnership with Intercash to collaborate on card issuance for customers in the European Economic Area (EEA).
Intercash is a global payment solution leader focusing on customizable white-label card programs in thousands of locations around the globe that allows users to transfer funds to bank accounts, instantly convert funds into local currency, and make real-time payments. Through the collaboration, business customers can now offer co-branded debit and prepaid cards to untapped consumer markets leveraging RYVYL’s new Banking-as-a-Service (BaaS) platform as the infrastructure. White-label cards can be issued as virtual or physical, allowing businesses enhanced flexibility. Intercash, which currently has over 1 million cards issued, has already initiated the first phase of the process by moving more than 50,000 cards to the RYVYL card program and plans to continue with the migration in phases based on card issuance.
Latest Fintech News: FV Bank Appoints Chief Risk Officer
RYVYL’s banking infrastructure includes the ability to make near real-time payments in multiple currencies, even during non-business hours; with lower fees than third-party wiring companies; and enhanced fraud protection and security.
“Until now, certain B2B customers, through no fault of their own, have been largely excluded from using this important brand-building marketing tool,” says Fredi Nisan, Co-Founder and CEO of RYVYL. “By leveraging our partnership with Intercash, we are excited to be able to bring businesses in Europe the ability to create their own customized cards.”
Latest Fintech News: Way.com Provides Drivers with Access to Competitive, Local Auto Financing from the Union Credit Marketplace
The agreement is another example of RYVYL’s recent successes signing international financial institutions such as Paydek, Xace and others to its BaaS solution. The company expects to process more than $100 million in BaaS transaction volume per month when fully ramped up.
Latest Fintech News: Carrefour and MoneyGram Join Forces to Broaden Financial Service Offerings to Carrefour Customers
[To share your insights with us, please write to sghosh@martechseries.com]
