Modulr brings embedded payments solution to Spain and France

By Gloria Methri

Embedded Payments platform Modulr is expanding its growth in Europe with a deeper presence and product functionality for the French and Spanish markets.

Regulatory and branch registration approvals with the Banque de France and Banco de España allow Modulr to add a layer of specific localisation in these markets, increasing the competitiveness of regional firms both in-country and across the UK and EEA.

Modulr enables any software business to embed payment and account functionality into their own tech stack and move money securely and compliantly across the UK and EEA. Modulr allows business payments to operate 24/7, under full software control, and in real-time – an alternative to traditional corporate bank payments.

Building on Modulr’s highly flexible account creation APIs, businesses can automatically reconcile high-volume income payments without the usual manual and lengthy processes and make payments in real-time rather than waiting for batch processes to complete. Businesses across financial services, travel, accounting, payroll, property, and marketplaces already use Modulr today, using its accounts, payments, and open banking APIs, webhooks for alerting, and physical and virtual card programs.

As an authorised and regulated Electronic Money Institution (EMI) licensed in the EU by the Dutch Central Bank and the Financial Conduct Authority (FCA) in the UK, Modulr can operate compliantly and at scale across Europe, issuing accounts and enabling account-to-account and card payments across a variety of schemes.

Myles Stephenson, Modulr’s CEO, and Founder, said, “Our ambition is to bring the benefit of Embedded Payments to all businesses and solve the current problem of broken business payments. Our customers benefit from creating new revenue opportunities, substantially improving process cost and efficiency, and transforming end-customer experiences. Ultimately, this creates huge opportunities for economic growth across the continent and enables businesses to provide enhanced customer experiences, all thanks to the progressive regulatory environment fostered by the European Union and the UK.”