Cambrist Limited, the leading SaaS FX data management platform for crossborder card payments, has been selected by allpay Limited to ensure compliance with EU Cross-Border Payments Regulations (EU2019/518) on their prepaid cards.
allpay, the UK market leader of payment services within the public and social housing sector, will leverage Cambrist’s Notify API service to ensure compliance with the EU crossborder payment regulation and increase transparency on currency conversion costs associated with card payments.
Cambrist’s Notify API is a real-time SaaS data management solution to the EU Cross-Border Payments Regulations (CBPR 2019/518). The regulation has been adopted by the FCA and is applicable to all UK card Issuers. The Notify offering delivers a flexible and cost-effective solution for card issuers and processors seeking CBPR2 compliance.
allpay, provide a range of payment channels to more than 50% of UK local authorities and 90% of the UK’s top 200 housing associations. This year allpay will manage over £8.5 billion serving over 4.5 million customers. The allpay product portfolio includes bill payment services, card services, and prepaid cards.
Stuart Green, Cambrist’s Chief Revenue Offer said: “We are delighted to be working with allpay Limited providing Cambrist’s Notify API. This is a simple and flexible compliance solution that allows allpay to provide their end customers with the required information on cross border card costs. Our aim is to help innovative Fintechs and established Issuers to efficiently manage the FX component of their card programmes.”
allpay Limited is the UK’s leading payments specialist. Established in 1994, its core business concentrates on providing bill payment services – primarily to the public sector – and handles around £8 billion a year, across 80 million transactions. Their aim is to work with each client to save them money through creating modern payment systems both cost effective and convenient for the end consumer.
Cambrist is an award-winning technology company enabling payment card issuers & processors to better manage the foreign exchange requirements of their card programmes. Our proprietary SaaS platform and advanced data analytics, combined with our team of industry veterans & experts, supports customers around the globe.