ClearBank has signed Tazapay as its first Singapore client, giving the payments firm access to UK and European payment rails.
The ClearBank Tazapay Singapore partnership will allow Tazapay to use ClearBank UK’s infrastructure for real-time settlement and compliant fiat interoperability across the UK and Europe. Tazapay is also ClearBank’s fifth non-resident client headquartered in Asia to join this year.
Singapore-based Tazapay provides cross-border payments infrastructure for merchants and platforms in more than 170 countries. Its platform supports over 80 local payment methods, multicurrency virtual accounts and local payouts in more than 100 markets.
The integration links ClearBank’s clearing infrastructure with Tazapay’s payments platform, supporting the company’s expansion into key European corridors.
The deal also comes as Tazapay expands its regulatory footprint. The company holds licences in Singapore, the US, Canada and Australia, with further approvals underway in Europe, the UAE and Hong Kong.
“Supporting Tazapay creates new opportunities for ClearBank to support a business with a rapidly expanding international presence. It is also another major deal for ClearBank with a leading Asian business, and our first with a Singapore client, as we continue to build our global reputation.
With our shared desire to blend innovation and regulation, I am sure that this is just the start of what will be a successful long-term partnership.”
said Mark Fairless, Group CEO, ClearBank.
“This expansion is a major milestone for Tazapay as we continue to share our payments infrastructure across the world.
ClearBank’s ability to provide instant payments, access to a wide range of schemes and bank-grade oversight and reliability made it the ideal partner to support this step.”
said Rahul Shinghal, CEO and Co-founder, Tazapay.
Featured image: Edited by Fintech News Singapore, based on image by alicephoto via Freepik
