Railsbank and Secure Trading lead transformation in financial services industry with new partnership at Money20/20 Europe
Secure Trading to offer an unprecedented number of payment services to merchants through Railsbank’s innovative open banking and compliance platform.
Copenhagen, 26th June 2017 – Award winning payments group, Secure Trading, has today announced its new partnership with Railsbank, a global open banking and compliance technology platform, offering companies API access to global banking with 5 lines of code. By alleviating the burden of integration and compliance with the existing legacy banking infrastructure, Railsbank has ushered in a new era in financial services, set to be further enhanced by Secure Trading. By providing multiple ways for Railsbank’s customers to accept money, including cards and alternative payment methods, Secure Trading is helping to lead the transformation of the financial services industry.
Railsbank will incorporate Secure Trading’s payment services into its own open banking offering, bringing new merchants to Secure Trading to take payments in Europe initially; and then in the United States and South East Asia in the near future. The integration would include consolidated reporting for Railsbank, bespoke pricing and a revenue sharing agreement. Payment options provided would include a number of different cards, as well as alternative payment methods such as PayPal and e-wallets.
“We’re thrilled to offer our breadth of payment services to companies connected to Railsbank, allowing them to take payments in a number of different ways; many of which are at the cutting edge of technology” said Laurent Dhaeyer, managing director at Secure Trading. “Payments is a critical part of the financial services ecosystem and we’re a strong believer that this should be as innovative and customer-focused as the developments in other parts of the industry. Our latest partnership with Railsbank is a perfect example of how a visionary and collaborative attitude between companies who put the customer first, can achieve great things. We look forward to supporting the exciting fintech and digital companies that Railsbank works with both now and in the future.”
“At Railsbank our vision for the future is that of innovation, flexibility and simplicity and Secure Trading is exactly the type of company we like to partner with to deliver this to customers,” said Nigel Verdon , CEO & Co-Founder at Railsbank. “We’re creating a new way for companies to engage with the legacy banking industry in a way that puts the customer experience first. It’s the whole ecosystem that has to change though, and we’re delighted to have Secure Trading on board to deliver the payments portion of this.”
Founded by serial entrepreneurs and FinTech veterans Nigel Verdon and Clive Mitchell, Railsbank is a global banking and compliance platform that gives companies access to wholesale banking services in 5 lines of code. Railsbank turbo-charges the scaling of businesses by massively reducing the time and complexity of opening bank accounts, streamlining technical integration with banks, enhancing banking functionality with core Railsbank services; and enabling both parties to have a trusted compliance relationship. Winners of the Simmons & Simmons FinTech Fund in 2016/17, Railsbank was the “Startup-in-Residence” for the 2016 Startupbootcamp FinTech 2016 Cohort.
Press contact: Deborah Ives on [email protected]
About Secure Trading
Secure Trading is one of Europe’s leading independent payment management companies. The company helps online businesses succeed through cutting-edge acquiring, security and processing technology, world-leading expertise and a culture dedicated to trust.
Secure Trading has more than 20 years’ experience in the payment industry. From its roots as a robust and secure payment processing company, to its best of breed acquiring and cybersecurity services today, Secure Trading is a one stop shop for payment services and has continually evolved to meet the ever-changing needs of online businesses. Today, Secure Trading is focused on speed and simplicity for its merchants – it offers a full cross-border acquiring service across Europe.
Matt Watkins / Astor Sonnen / Lindsey Challis
Secure Trading team at Finn Partners
020 7017 8427