Tribe Payments will process payments for and provide advanced authentication to TradeCore’s issuing customers
London, 12th January 2021 – Tribe Payments, an issuer/acquirer processor and payment technology provider, today announced that TradeCore, the full stack fintech platform, has selected it as its issuer processor. The partnership means that Tribe Payments will be the issuer processor for card programmes delivered by TradeCore to its customers.
TradeCore is a Banking-as-a-Service provider that enables fintechs to build next-generation banking and investment products. The TradeCore platform offers digital banking, card issuing, traditional and alternative investments, crypto and KYC/AML products to fintechs via standardised APIs to accelerate time to market, reduce compliance burden and lower capex costs.
False positives are a big problem for fintechs. Javelin Strategy and Research estimates that only one in five fraud predictions is correct meaning that fintechs that incorrectly decline transactions are losing out on revenue and frustrating their customers.
In addition to issuer processing, TradeCore’s customers will use Tribe’s authentication and fraud protection system which includes an advanced 3-D Secure protocol. The system will allow TradeCore’s customers to approve or deny transactions directly through custom spending rules. Many of TradeCore’s clients use multiple products such as digital banking and investments in addition to card issuing. The additional data based on the use of these services allows TradeCore and Tribe Payments to more accurately identify false positives and put fintechs in control of transaction authentication.
“In the last 10 years we’ve seen fintechs drive real change in financial services, but card programmes have pretty much stood still. Despite cards being front and centre for many fintech propositions, most offerings are pretty basic,” said Stefan Pajkovic, CEO of TradeCore. “Our partnership with Tribe Payments will change this by allowing our fintech customers to break the legacy cycle. From Advanced Fraud Protection to Open Banking and Strong Customer Authentication, together we’re arming fintechs with the services and functions they need to outpace the market.”
“TradeCore provides a one-stop shop to build and launch new fintech businesses, reducing time-to-market from months and years to a matter of weeks. This isn’t just about technology, it’s about the ecosystem it offers,” said Alex Reddish, Chief Commercial Officer at Tribe Payments. “Through TradeCore’s ecosystem, fintechs can access the very best fintech products and services all via APIs to build card programmes that are not just multi-currency but multi-asset – with digital banking, investment and crypto functions. Working together, we can help fintechs deliver propositions that are truly dynamic and differentiated.”
About Tribe Payments
Tribe Payments is an issuer and acquirer processor, and payment technology provider to banks, fintechs and any business that wants to offer payment services to merchants and consumers. Created by the best payment experts in the world, Tribe offers a digital wallet, access to banking systems and rails, a payment gateway and a host of third-party services from KYC to fraud prevention via its online marketplace.
All aspects of Tribe’s products are provided via a modular platform, meaning functionality can be mixed and matched without risking disruption or downtime. Tribe’s disposable technology means it is the only provider to fully break the ‘legacy-cycle’, ensuring zero-obsolescence and use of containerisation to minimise risk.
As Europe’s first issuer and acquirer processor working with Mastercard, Visa, JCB and UnionPay International, Tribe offers unrivalled market connectivity. It helps its customers to build global scale, securely—with PCI Level 1 compliance and Level 3 data centre support.
We are a tribe of industry experts delivering the future of payments.
Find out more: https://tribepayments.com/
TradeCore, the fast growth fintech start-up, builds innovative tools for the retail trading and broader financial services industry. Committed to delivering smart and efficient fintech products and services over API, TradeCore turns the existing, complex technologies into simple and engaging novel concepts, to revolutionise the market. By creating advanced products, services and apps available to any individual worldwide, TradeCore empowers people to actively participate in the world of finance.
Based in London and Belgrade, the TradeCore platform provides a one-stop shop for fintechs looking to launch a new product or service quickly, by reducing time-to-market. Working with over fifteen ecosystem partners, including Modulr, TrueLayer and ComplyAdvantage, TradeCore’s API takes care of back end issues, meaning UK startups can hand over the complex back-end processes to established players, and focus more on innovation and customer acquisition.
For further information – please go to www.tradecore.com
Octopus Group for TradeCore
For all media enquiries, please contact:
Jack Ferris | Tradecore@octopusgrp.com