StyloPay, specialists in payment solutions and mobile applications, has selected Tribe Payments’ digital wallet technology. Tribe’s digital wallet technology will form part of StyloPay’s cloud-based payments-as-a-service offering that enables banks and card issuers to rapidly scale card programmes and mobile wallets globally.
StyloPay empowers financial institutions, issuers and wallet service providers to setup their own payment offering at low cost and risk. E-wallet, IBAN, card programs, wearables, mobile wallets and card personalisation services are all available from StyloPay’s platform. Unlike most payment providers in the market, StyloPay builds customised solutions for specific vertical markets such as hospitality, retail and educational sectors delivered via industry-specific APIs.
The global breadth and vertical depth of StyloPay’s offering, with the need to customise services to specific markets, made finding a digital wallet product that met its needs problematic. In particular, StyloPay’s clients are demanding a quick to launch wallet that can handle both fiat and crypto currencies as well as an array of alternative payment methods.
Built by payment experts with vast experience working with leading fintechs globally, Tribe’s digital wallet technology gives card and wallet holders unrivalled control over their spending along with an outstanding user experience. Holders can add as many cards as they like, transfer funds between them and set real time exchange rates, along with viewing account and transaction details. The product provides:
• Multiple load options
• Fiat and crypto currency management and transfers
• Built-in customer communication capabilities
• Digital wallet application
• Connection to any processor
• KYC and fraud protection built-in
Critically, the digital wallet can be launched in weeks, not months, with the ability to quickly and simply add additional functionality as required. This is enabled by Tribe’s modular platform which delivers containerized micro-services. This stops the ‘Jenga-effect’ – where one change can have unwelcomed consequences across other services, even leading to catastrophic failures. Tribe’s platform ensures all programming code is isolated, minimising risk whether your adding a new service or just tweaking functionality.
“Our clients are demanding, which means we need to be demanding of the technology that we use. Services need to work globally and to international standards but be tailored to the specific needs of industry sectors,” said Avishek Singh, CEO of StyloPay. “Tribe was able to meet these demands and more. Breadth of capability and time-to-market are truly industry leading and we look forward to debuting our new digital wallet offering to our clients.”
“We want to work with ambitious clients that have new and seeming insurmountable payment challenges that need to be solved on a global basis. This is what we built Tribe for,” said Alex Reddish, Chief Commercial Officer of Tribe Payments. “It has been a privilege working with StyloPay’s team of payment pioneers to create a digital wallet proposition that truly pushes the boundaries of banking.”