My EU Pay partners with ClearBank

By Gloria Methri

My EU Pay, a financial institution that offers frictionless payments and FX to businesses, has partnered with ClearBank to provide a range of banking services for its clients.

My EU Pay will use ClearBank’s API to offer its customers real-time clearing, allowing them to access the UK Faster Payments Service and multi-currency services, which have been in demand with their customers for some time.

Funds will be held in segregated Safeguarded Accounts provided by ClearBank, and ClearBank then holds all client funds at the Bank of England.

“My EU Pay is delighted to collaborate with ClearBank as we expand our banking partners in line with our continued recent growth. We stand out in the market by offering our clients fast onboarding and a dedicated expert team on hand to serve their needs. Our customers have been asking for more multi-currency options, virtual IBANs, and a well-priced, effective FPS option, which we’re delighted to deliver in partnership with ClearBank,” said Sarah Dees, CEO, My EU Pay.

“Our product offering has helped My EU Pay consolidate their providers whilst our scalable cloud platform and API integration have allowed them to grow their customer base rapidly since going live. We are pleased to be supporting them in expanding their client offering and look forward to the growth of our partnership,” said John Salter, Chief Customer Officer, ClearBank.

The announcement follows ClearBank’s latest partnership with PayDo, an EMI offering personalised solutions to businesses and individuals through a suite of financial services.

The collaboration enables PayDo customers to convert their transactions into 12 different currencies and gain access to the faster payment network.  PayDo’s one-contract, one-dashboard product with a suite of financial services is designed to facilitate fast and secure transactions. With ClearBank’s additional faster payment access, customers can easily send money and make global transactions.