SetldPay chooses Tribe Payments for Issuer Processing

By Gloria Methri

Card scheme program manager SetldPay has chosen Tribe Payments as its issuer processor provider, benefiting from its Risk Monitor and 3D Secure solutions.

Founded in 2023, SetldPay specialises in Open Loop and Private Label Card Programs. It provides solutions for any kind of prepaid card program, including gift cards, fuel cards, travel & FX, B2B and commercial cards.

Headquartered in London, the company works with major card schemes, Visa and Mastercard and two issuers to ensure a broad range of expertise and choice in product, compliance/legal and geography.

“From the research we did, Tribe is the most technologically advanced solution in the market, said SetldPay Co-Founder and CEO Stuart Green. “Plus, there is a great deal of pre-existing trust with the team at Tribe from past dealings with them.”

In addition to issuer processing, SetldPay will also benefit from Tribe’s proprietary Risk Monitor platform. This platform allows for real-time assessment of card transactions against an array of pre-defined conditions and against global sanctions, PEP and Adverse Media databases.

This will allow SetldPay to ensure they have oversight and confidence in providing protection to their customers and meeting AML requirements for EMI license holders.

SetldPay will also benefit from Tribe’s in-house 3D Secure Solution (3DS), which provides a seamless authentication service for banks, FinTechs and acquirers. 3DS has become an essential part of risk management and fraud prevention for any business that takes online payments.

Jo Lawrence, Head of Customer Success at Tribe, said, “We are thrilled to be working with SetldPay. Their knowledge of the regulatory landscape, which minimises their customers’ time to market, complements Tribe’s quick-to-market mantra. Plus, as Head of Customer Success at Tribe, it gives me great pleasure to know that SetldPay was also founded with the motivation of maintaining great customer relationships.”