B4B Payments selects Banking Circle to boost corporate banking services

By Megha Bhattacharya

B4B Payments, a global prepaid payments provider, has selected Banking Circle to provide payments infrastructure for its corporate banking services. Providing prepaid solutions to businesses for more than 15 years, FCA authorised B4B enables organisations of any size to manage expenses, simplify payroll, reimbursements, and offer employee rewards and incentives.

The new partnership with the FinTech will enable B4B Payments to offer flexible, and time-saving solutions that streamline and eliminate antiquated finance and accounting processes. Initially, Banking Circle will provide virtual IBAN accounts for B4B clients as well as safeguarding services.

B4B CEO and co-founder, Paul Swinton said, “Banking Circle is changing the dynamics of the global payments ecosystem. It is doing the heavy lifting for businesses like ours by establishing a super-correspondent banking network that will deliver fast and cost-effective solutions for our clients. We, therefore, see our partnership as integral to our ambitious development plans.”

Anders la Cour, co-founder and Chief Executive Officer of Banking Circle added: “The diverse customer base of B4B requires flexibility and adaptability to serve their needs and we are delighted to be able to provide payments infrastructure to underpin that service. Our mission at Banking Circle is to tackle the legacy of high cost and slow international payments and B4B is another business that has seen the value we can add to their proposition.”

Recently, PayAlly, the fully integrated payments ecosystem for SMEs, selected Banking Circle solutions to improve its multi-currency B2B cross border payments services. The new partnership gives PayAlly access to a wider choice of payment rails through the Banking Circle banking network, thereby improving the speed and cost of international payments for its e-commerce customers.