Payset, an online payments platform that provides a diverse suite of payment solutions for both individuals and companies, has partnered with ClearBank, the enabler of real-time clearing and embedded banking for financial institutions, to allow it to access the UK payment system for both local and cross-border transactions.
The partnership with ClearBank allows Payset to offer improved business and individual accounts to clients in all of its supported jurisdictions. Payset clients will now have a Payset UK bank account and sort code, have the ability to clear payments through UK schemes and make virtual account payments in multiple currencies.
Payset will also now be able to offer instant FX services, improving its clients’ currency exchange service.
John Salter, Chief Customer Officer, ClearBank, said: “We’re delighted to welcome Payset to ClearBank. Payset has built an impressive team and a first-class technology stack to support its expansive client list. With Payset’s own bank code, they will be able to offer their clients GBP payments and clearing services as well as instant FX and MCCY payments from ClearBank. We aim to support Payset to expand into new markets and client verticals as well as growing their EU business.”