Griffin, a UK bank for fintechs and platforms, has partnered with TransactPay to bolster TransactPay’s banking infrastructure and enhance its UK card program offering.
The partnership lets TransactPay tap into Griffin’s safeguarding, operational accounts, payments and savings infrastructure, building on successful collaborations across multiple fintechs.
TransactPay can now streamline its operations with dedicated safeguarding accounts for e-money programs, operational accounts for working capital and card scheme obligations, and easy access savings accounts to offer alongside its card products.
Griffin’s infrastructure will also support faster payments and book transfers with FSCS protection on customer accounts of up to £85,000 per eligible depositor.
Aaron Carpenter, CEO at TransactPay, said: “All of our touchpoints with Griffin over the last couple of years have been great – pragmatic, flexible, and focused on getting the best outcome for the customer. We’re delighted to be making our relationship official and look forward to working with them on some exciting new projects.”
David Jarvis, CEO and co-founder at Griffin, also added: “We’ve worked with TransactPay on multiple projects that have allowed both teams to see the power of combining their card issuing expertise with our banking infrastructure.
“We’re excited to now formalise this partnership and provide the banking support that will enable TransactPay to compete more effectively and deliver even more value to their card program partners in the UK and beyond.”
