Transcard has been authorized by the Financial Conduct Authority (FCA) as a payment institution in the United Kingdom. This milestone enables Transcard to offer compliant open banking and payment initiation solutions, expanding its global reach. The FCA approval highlights Transcard's commitment to security, transparency, and innovation in payment orchestration.
CHATTANOOGA, Tenn., Dec. 10, 2024 /PRNewswire-PRWeb/ -- Transcard is proud to announce its official authorization by the Financial Conduct Authority (FCA) as a payment institution in the United Kingdom (UK). This significant milestone positions Transcard to offer trusted, compliant, and innovative open banking and payment initiation solutions to clients in the UK, expanding their global capabilities.
The authorization reinforces Transcard's commitment to excellence, security, and compliance. The FCA is a gold standard in market credibility and recognized globally. Approved for Payment Initiation Services (PISP) and Account Information Services (AISP), Transcard can initiate secure, real-time payments on behalf of their customers and provide aggregated actionable insights from multiple accounts to drive financial decisions.
Transcard has been operating in the United States for over fifteen years, partnering with customers to streamline payment orchestration and optimize financial operations with their scalable payment solutions. With customers ranging in sizes from small to large enterprises, Transcard solutions are used across verticals to support digital transformation and unlock cash flow management.
"This authorization from the FCA has been years in the making, and I want to acknowledge our Transcard team for their diligent commitment to achieve this important milestone in our global expansion. We continue to innovate and enhance our solutions to expand across markets and territories. Digital transformation remains at the forefront of our payment solutions, and we're excited to bring our enhanced capabilities to the UK," said Greg Bloh, Transcard CEO.
Regulatory approval from the FCA underscores Transcard's compliance with rigorous standards for security, transparency, and operational excellence. Transcard initiates payments securely and handles sensitive data while adhering to the highest standards and meeting FCA requirements for operational integrity. Customer data will always be handled securely and in full compliance with GDPR and other regulatory regimes.
Transcard's embedded payment solution, the SMART Suite, delivers a seamless payment experience and enables users across industries to collaborate and share payment information with ease. The solution set agnostically embeds within a customer's ERP or core system and connects to existing bank accounts supporting payment orchestration for businesses of all sizes. Features include disbursements, receivables, account-to-account payments, cross-border payments, AI insights, and supply chain financing.
About Transcard
Transcard offers comprehensive global payment orchestration solutions for banks, fintechs, and businesses. Our embedded payment solutions enable seamless transactions, collaboration, and data sharing with customers and suppliers worldwide.
Transcard's solutions combine multi-rail capabilities, embedded workflows, system of record integration, effortless reconciliation, and bank-grade security to support B2B and B2C payments for businesses of all sizes. Streamline financial operations with digital payments, monitor real-time activity, reduce fraud risk, and improve customer and vendor experience with an all-in-one payment portal.
Media Contact
Transcard, Transcard, 1 4235535200, [email protected], https://www.transcard.com/
SOURCE Transcard
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