PayNice selects Tribe Payments for risk monitoring

PayNice will now be able to provide its merchant customers with an added layer of transaction security

London, Thursday 15th December 2022 - Payment technology company <a href="https://www.tribepayments.com/" data-saferedirecturl="https://www.google.com/url?q=https://www.tribepayments.com/&amp;source=gmail&amp;ust=1673452158850000&amp;usg=AOvVaw1-kNzpVN1ypbk5oNDmNWpF">Tribe Payments</a> has today announced it has been selected by mobile payment platform <a href="https://www.paynice.it/" data-saferedirecturl="https://www.google.com/url?q=https://www.paynice.it/&amp;source=gmail&amp;ust=1673452158850000&amp;usg=AOvVaw3tcoIukzv24vXsNqAPF72I">PayNice</a> to provide risk monitoring solutions. Tribe’s Risk Monitor tool is designed to take in every individual data point of a transaction allowing PayNice to make risk-based decisions in real-time, right down to individual transaction level.

Italian headquartered PayNice aims to connect retailers with their customers by enabling electronic payments to be accepted and managed. PayNice was seeking a risk-monitoring solution that could bring as much relevant data as possible together, to give their merchant customers improved control of their risk exposure and stay ahead of fraudsters.

Tribe’s risk monitoring solution will give PayNice the ability to access real-time transaction data including data from third party PEPs and sanctions information providers. Also included are transaction checks across merchant codes, BIN, country, issuer, account type, transaction value, industry, and a range of other parameters. When combined, this huge wealth of data will give PayNice and its customers the ability to spot trends and respond quickly to changing risk levels.
<blockquote>“PayNice combines artificial intelligence with management tools and electronic payment features. Our goal is to provide those who work in the catering and trade markets with the right tools to keep up with the challenges of today and of the future." said Simone Vescovi, CEO at PayNice. "To help us deliver a best-in-class payment service, security is everything. We needed a payments technology provider that could provide us with the vital data needed to help us spot any issues sooner, so that we can address them earlier. Tribe's leading risk monitoring solution provides us with exactly that.”

“We’re seeing growing demand from businesses who want to protect their merchant customers from an ever-growing array of threats,” said Alex Reddish, Managing Director at Tribe Payments. “The reality is that if your fraud management systems don’t keep up with your payments innovation then that innovation is creating risk, not preventing it. PayNice recognised this challenge, and we’re delivering a tailor-made risk solution that is configurable with their needs, customer base and geographies to ensure they can meet this challenge head on.”</blockquote>
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About PayNice

PayNice is a mobile payment platform born with the aim of connecting retail with consumers. They help entrepreneurs operating in the trade and catering sector to equip themselves with advanced technological tools by offering advantageous formulas. PayNice aims to counter financial speculation against SMEs by reducing the management and maintenance costs typical of financial intermediaries.

About Tribe Payments

Tribe Payments provides modular technology to banks, fintechs and acquirers, enabling them to offer innovative payments services without compromising on speed, scalability or quality.

Tribe’s core platform - ISAAC – supports issuer and acquirer processing and offers a range of API-led enhanced services including a proprietary 3D Secure solution, data insights fraud and risk monitoring. Tribe’s technology stack also includes its Digital Banking, Bank Connect and Open Banking solutions which give fintechs and payments companies fast, easy access to banking rails and financial services capabilities.

Tribe’s cloud-based services provide clients and partners with enhanced flexibility and rapid speed to market, along with the ability to scale, expand across borders, and work better in complex regulatory environments.

Launched in 2019, Tribe is a pioneering payment technology provider. Tribe was the first processor to allow service providers to harness the power of Open Banking without developing their own APIs. As Europe's first issuer processor to work with Mastercard, Visa and UnionPay International, Tribe supports unrivalled connectivity for card payments. And with PCI Level 1 compliance and supported by Level 4 data centres, Tribe builds global scale, safely and securely.

Find out more:

<a href="https://tribepayments.com/" data-saferedirecturl="https://www.google.com/url?q=https://tribepayments.com&amp;source=gmail&amp;ust=1673452158850000&amp;usg=AOvVaw1-7DI4ZdjK8u1bF9BxBwzt">https://tribepayments.com</a>

PayNice selects Tribe Payments for risk monitoring

With Tribe Payments’ technology platform, Paytend can now support both acquiring and issuing services, with more control over business direction and commercials

We're pleased to announce that digital bank, Paytend, is now live with both issuer and acquirer processing services from Tribe. The partnership enhances Paytend’s product offering, enabling them to issue payment cards, allow users to add cards to mobile wallets - including within Paytend’s own mobile banking app - and allow merchants to accept POS and online transactions.

Regulated by the Bank of Lithuania, Paytend provides innovative digital banking services to consumers and businesses in Europe. The digital bank’s offerings span multi-currency accounts, global remittances, and both in-store and e-commerce acquiring. Due to holding issuer and acquirer licences, Paytend was keen to work with a single partner that supported both sides of the transaction with an API-led and cloud-based technology platform.

With its core platform – ISAAC - Tribe now provides Paytend with issuer processing and management for Mastercard and Visa cards, both virtual and physical – including support for mobile wallet payments, also via Paytend’s mobile banking app. Tribe also facilitates authorisations and provides tokenisation, 3DS and transaction monitoring solutions.

On the acceptance side Tribe’s technology powers both in-store POS and ecommerce transactions for Paytend’s merchant customers, which includes restaurants, tax-free shops and cosmetic stores throughout Europe. This incorporates multi-scheme acquirer processing services and supporting capabilities such as acquirer-side 3DS.

“At Paytend we pride ourselves on providing better and more efficient financial collection and payment services for our customers across a wide range of use cases”, said Laimonas Zmuidinavicius, Managing Director at Paytend. “To help us achieve this we needed a payments technology partner that offers the flexibility and expertise needed to ensure our digital banking services are market leading. With Tribe we’ve found exactly that - a proven partner that helps us create compelling issuing and acquiring services.”

“We see a growing demand for businesses who want to be both issuer and acquirer. As fintechs look to differentiate and rapidly launch new services to drive new revenue streams, the ability to address both sides of the transaction is key, not just to seizing the opportunities available but also gaining more control over business direction, costs and commercial models,” said Alex Reddish, Managing Director at Tribe. “While the opportunity is enormous, the process often isn’t easy. Which is why our job is to take the pain out of that process and offer flexible technology that allows Paytend to offer a powerful end-to-end service for their customers.”

Paytend chooses Tribe for issuer and acquirer processing

<a href="https://multipass.co/" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.linkedin.com/company/multipassplatforms/" data-sk="tooltip_parent" data-remove-tab-index="true">MultiPass</a>, a UK-based bank challenger specialising in multi-currency cross-border payments, has partnered with Tribe and Moorwand, a payments solutions provider offering BIN sponsorship and issuing services, to launch corporate payment cards.

Both virtual and physical cards can be ordered, activated, and fully managed by customers inside the MultiPass payment platform. This solution will further simplify the management of international finance for MultiPass customers, providing them with an additional convenient way to carry out online purchases: to pay for travel bookings, web services, business subscriptions, and to handle other daily expenses. The prepaid cards are available in GBP and EUR to companies registered in the UK, Ireland, the Czech Republic, Hungary and several other EU countries.

According to Konstantin Zaripov, Managing Director at MultiPass, the card launch has been in high demand. “We acknowledged the need communicated by our customers, and we are happy to deliver. Combined with our multi-currency accounts, the corporate card solution we created with Moorwand and Tribe will provide even greater payment flexibility to companies with cross-border business activity. We are now a step closer to becoming a one-stop shop for all international business banking needs.”

Luc Gueriane, Chief Executive Officer at Moorwand, says: “MultiPass has shown impressive growth over the past year, having processed over €800 million worth of transactions. This only shows the necessity of the service. We are happy the company has chosen us to reinforce their multi-currency payment product and I am certain this development will allow their customers for a better, faster and more convenient transfer service.”

The technical processing infrastructure as well as 3D Secure and risk-monitoring capabilities for the card-issuing project are handled by Tribe Payments – a modular and future-ready payments technology provider. Certified to offer Visa, Mastercard, and UnionPay, Tribe provides a secure and scalable solution, enabling MultiPass to access a wide range of technical capabilities for innovation and growth.

Alex Reddish, Managing Director at Tribe Payments, says: “We’re excited to play a key part in enabling MultiPass to offer additional value to its business customers. The cross-border business banking space is an essential and exciting area of fintech – we’re proud to help MultiPass bring these new services to market quickly in response to customer demand.”

Multipass partners with Tribe to launch corporate payment cards

At Tribe, we dream of a future where payments innovation supports the day-to-day experiences that end-users crave. To make this vision a reality, we work with clients and partners across the ecosystem to develop future-ready technology solutions built around their customer needs. We focus on creating solutions that press ‘fast-forward’ on the innovation lifecycle, without compromising quality or operational value.
Our solutions include:
<ul>
<li>Payments processing for issuers, acquirers and fintechs</li>
<li>Digital Banking and Digital Wallet solutions</li>
<li>Payments Gateway and POS for acquirers</li>
<li>Open Banking APIs</li>
<li>Bank Connect</li>
<li>Fraud &amp; Risk Monitoring</li>
<li>3D Secure</li>
</ul>

Tribe Payments

At Tribe, we dream of a future where payments innovation supports the day-to-day experiences that end-users crave. To make this vision a reality, we work with clients and partners across the ecosystem to develop future-ready technology solutions built around their customer needs. We focus on creating solutions that press ‘fast-forward’ on the innovation lifecycle, without compromising quality or operational value.

Our solutions include:
<ul>
 	<li>Payments processing for issuers, acquirers and fintechs</li>
 	<li>Digital Banking and Digital Wallet solutions</li>
 	<li>Payments Gateway and POS for acquirers</li>
 	<li>Open Banking APIs</li>
 	<li>Bank Connect</li>
 	<li>Fraud &amp; Risk Monitoring</li>
 	<li>3D Secure</li>
</ul>