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Case studies Company News Non Profit

Good for the world’s vulnerable and financially excluded

B4B has a long history of supporting charities that align with social and financial inclusion values. These organisations use B4B’s proprietary technology and prepaid Mastercard card solution to manage and distribute funds in challenging circumstances. However, these organisations are more than just clients, and B4B goes beyond standard commercial relationships to support these important causes.

Human Appeal

In 2016, B4B was approached by Human Appeal, a non-profit organisation working globally to strengthen humanity’s fight against poverty, social injustice and natural disasters.

The organisation aims to invest in real, effective solutions by providing immediate relief and establishing self-sustaining development programmes.

One of the main challenges facing Human Appeal was managing the process of buying emergency supplies such as food, blankets, and other urgently needed essentials. These purchases would need to be made by field agents who were face-to-face with victims and their often-desperate circumstances.

The B4B team saw that their expense management solution using prepaid cards was the perfect solution for Human Appeal.

Tracking and control

B4B’s portal allows clients to upload funds and dispatch cards (both plastic and virtual) and load them with funds. The technology works remotely, making it ideal for the needs of Human Appeal and its disparate team of aid workers in the field around the world.

The expense cards provide an alternative to cash when paying for essentials like food, shelter, or medical care. They also give team leaders access to a portal so disbursed funds can be tracked and spending monitored. In emergencies, funds can be topped up remotely, no matter where the cards may be.

As a Sharia-compliant financial organisation, B4B and Human Appeal are growing together, allowing funds from Zakat to be spent compliantly and where most needed. Being Sharia-compliant means the aid dispatched fulfils the principles of the Islamic faith and adheres to Sharia law. 

Ease of use, practicality, and functionality

Human Appeal manages its prepaid card portfolio through an intuitive, easy-to-use platform and app that enables staff to send representatives recurring or one-off payments instantly.

For the representatives in the field, the process is simple and convenient. They receive their B4B card and complete financial visibility through the app, enabling them to monitor and manage their funds in one place. Balances can be checked, and transactions can be reviewed at a glance. Features such as real-time SMS notifications help representatives keep track of their spending and balances.

Growing together

In 2023, the two organisations were able to support each other’s growth into the US market, which is strategically vital for both organisations.

As part of the planning and setting up of its new centre in California, Human Appeal extended its UK relationship to include the services of B4B’s operation in the US in March 2023. This extension of the relationship enabled Human Appeal to issue B4B Visa cards to its US-based team.

The next step in the growth of the partnership is to integrate Human Appeal’s German and Irish entities with B4B’s expense programme. For these entities, B4B has once again offered to adhere to its lower rates offered for humanitarian organisations. 

“Human Appeal has worked with B4B for many years and have found them an ideal partner to work with to support our charitable work. We have found B4B responsive to our needs and have extended the partnership to our sister organisation in the US. We look forward to working with B4B in the future and growing our collaboration.” – Asif Nazar, Head of Finance, Human Appeal.  

Summary: B4B supporting people in need

The B4B Payments solution is designed to be as straightforward and innovative as possible. For charities, its prepaid cards offer a practical solution, enabling Human Appeal to distribute funds to their aid workers instantly and eliminating the risk that comes with carrying cash.

Humanitarian causes are close to the heart of the B4B team, and they are pleased to be able to offer Human Appeal preferential commercial terms for a service that has become an essential part of its growing global operations.

Photo of Tim Robson & Edwina Wilkins, B4B Payments, with Asif Nazar & Misbah Shikdar (Head of Finance & Finance Manager) at Human Appeal’s Manchester HQ (2023).

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Company News Newsroom

Unveiling the potential of BaaS: Insights from Brian Lawlor, our Group CCO

The show’s host, Rogier Rouppe van der Voort, explores Brian’s expertise in BaaS and how this breakthrough model is enabling companies to extend their services to provide customers and generate new revenue.

BaaS breaks the mould for the delivery of banking services. It gives non-financial institutions the ability to offer core banking services such as card issuance, payment acceptance and FX service. Thanks to BaaS, a business can launch its own banking services without having to go through the lengthy and costly process of attaining its own licence. They also avoid the need to build their own complex infrastructure for the delivery of those services.

Swedish startup Juni, which was listed as 2021’s fastest-growing fintech startup in Europe, is one of B4B’s most recent high-profile BaaS success stories.

‘BaaS has grown rapidly in recent years,’ explained Brian, ‘which has naturally attracted some new service providers into the market. With BaaS, organisations can quickly integrate banking functionalities into their existing products or services, eliminating the need for extensive development and regulatory hurdles.

‘BaaS is pushing innovation by allowing for the creation of tailored financial solutions that boost customer loyalty and engagement. Ultimately, it empowers businesses to scale efficiently, adapt to evolving market demands, and enter new markets with ease.’

The PCN podcast episode featuring Brian Lawlor is live, and you can catch it on all major platforms like Apple Podcasts and Spotify.

Power your payments vision with B4B Payments as your
Banking as a Service Provider.
Meet the team at Money 20/20 Europe at stand 8A 300
.
Book a meeting here

 

 

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Case studies Company News FinTech

Empowering Choices: Performance Bonus and B4B Payments Revolutionising Rewards

Unlocking Rewards for All

In a world where companies struggle to offer incentives that truly satisfy their employees and traditional benefits often miss the mark, a significant change is happening. Performance Bonus solves the pains of incentive and rewards scheme administration and delivery whilst also increasing companies’ Return On Investment(ROI).

Teaming up with B4B Payments since 2019, Performance Bonus specialises in delivering BONUS rewards through prepaid Visa / Mastercard products. These cards, accepted globally in over 30 million locations, comply with the UK’s taxation requirements.

David Burton, CEO of Performance Bonus Ltd, states, “Partnering with B4B Payments has created exactly the ‘win-win’ result we intended. For Performance Bonus, it has broadened our offering, already winning new clients, and for B4B Payments, it has opened up a ‘turn-key’ solution through us into the incentives and rewards market”.

To date, Performance Bonus has successfully administered over £20 million in rewards through various programs, including Business (B2B) promotions, in-house sales incentives, and staff recognition initiatives.

Physical and Digital Channels and Personalised Gifts

Experts in leveraging accessible digital channels, Performance Bonus ensures effective communication and delivery of incentive programs. This extends to embedding the reward payment solution into clients’ Intranets/Apps or their BONUSme Microsoft Azure Hosted application.

Clients can either outsource their complete programme fulfilment through Performance Bonus or have direct access and control of their brand solutions using their systems and support as required.

Building a Collaborative Culture: click as a team

The Performance Bonus success story includes helping a lead client dominate the motor finance incentive space for over a decade. This was achieved through a bespoke incentive solution that evolved to reward salespeople based on customer satisfaction and NPS score achievement via a branded prepaid card solution.

To achieve Performance Bonus’ potential, they found B4B’s flexibility, capability and approach enabled them to 

  • Create a core ‘non-cash’ compliant, contactless prepaid product in the Mastercard ecosystem. 
  • Future-proof their product for GooglePay/ApplePay (using B4B’s one-click adoption) 
  • Quickly and cost-effectively launch co-branded prepaid cards for their clients, featuring either the clients’ branding or an ‘off the shelf’ BONUS card.
  • Provide their clients with the choice of both eco-friendly plastic cards and/or virtual cards.
  • Use API access to build client-branded cardholder applications and incorporate them into our own Microsoft Azure-hosted Bonus Administrator app.

David Burton continued, “We had experienced a couple of ‘false starts’ with other possible partners, but the ‘can do’ attitude at B4B has made the creation of our joint offering a real pleasure to be involved with”.    

Conclusion: Paving the Future of Rewards

Together, Performance Bonus and B4B Payments have built the strategic asset that Performance Bonus sought by adding compliant prepaid capabilities alongside their performance measurement and rewards administration offerings.

Tim Robson, Account Director at B4B Payments, expresses optimism for the future, stating, “It’s really good to see the incentive and reward products we have created together working so well, and with much of the market turmoil of the last few years hopefully now behind us, we wish Performance Bonus every success in our partnership moving forward”.

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Company News Newsroom

Tech People podcast welcomes B4B Payments’ Brian Lawlor

‘Why breaking up banking means better financial services’

Legacy banking services will be a hot topic when Brian Lawlor, Group Chief Commercial Officer, B4B Payments, is the special guest on the Tech People podcast in January.

B4B Payments offers Banking as a Service (BaaS) technology that enables businesses to provide the kind of financial services that previously only banks could offer.

‘We are helping to break apart the old model. Through BaaS, we allow organisations to offer new and improved access to those core banking services such as issuing cards, making payments, or FX – and it can be virtually any type of business that takes advantage of that. Not just banks or even financial service companies.’

Brian met the podcast’s host, Ken Coyne, at Money 20/20 USA in October last year, and Ken was interested in learning more about Brian and the ethics driving B4B Payments.

The podcast seeks to show ‘how diversity, creativity, and innovation, when nurtured in people, can lead to an unbeatable formula’. This series of interviews ‘share the experiences of some truly inspirational leaders on their journey to customer success.’

Brian joins a long list of previous guests from major organisations across different types of technology industries organisations. Recent podcasts have featured Diane Acevedo, SVP, Operations and Customer Experience at Gabb Wireless, speaking about how to overcome the negative impacts of technology on children. Owen Fitzpatrick spoke about leadership principles and the importance of what leaders believe rather than what they think. David Urban, CEO of Auctioneer, shared his views about AI and the future of coaching for founders.

Brian will be sharing stories and learnings from his professional journey, leadership insights and the principles driving B4B Payments today.

 

Brian’s journey to Banking-as-a-Service (BaaS)

As part of his 20-year career, Brian has played vital roles in launching key fintechs, including Soldo, Revolut, Wise, Monzo and Juni. In 2020, Brian joined Banking Circle, which eventually acquired B4B Payments, an EMI in the UK and Lithuania and a principal member of both Visa and Mastercard. Following the acquisition, Brian assumed the role of Group Chief Commercial Officer at B4B Payments.

The benefits of BaaS are most widely felt across the whole eCommerce sector especially travel. Buyers can now not only choose the goods or services they want to buy but also select other banking products that might help them make their current purchase, such as a loan or apply for a card that rewards their future loyalty to their favourite brands.

 

Examples of B4B Payments impact

B4B Payments have a long history of shaking up industries and cutting through red tape.

Migrant Help is an organisation that provides invaluable initial assistance to victims of modern slavery and trafficking.

Exploited individuals often don’t have the ability to open a typical bank account. So, physical cash handouts were given to migrants for immediate help. This presented obvious risk and security issues. A prepaid Mastercard was the perfect alternative – offering all the benefits of a cash-free system without requiring the paperwork and process of an individual bank account.

B4B Payments are helping to make businesses more competitive, as showcased by the services it provides to two Danish fintechs, OneMoneyWay (insert link) and Zento (insert link). They are using B4B technology to simplify corporate payments for SMEs, eliminating the lengthy processes and high costs typically associated with opening a corporate bank account in Denmark.

Where to find Tech People

The episode of the Tech People podcast featuring Brian Lawlor will be published on (the 28 February) and available from all popular aggregators, including Apple and Spotify.

 

 

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Case studies Company News Travel

Transforming Travel Finances: Acacia Africa’s Decade-Long Partnership with B4B Payments

Background

Initially recommended to B4B by a former supplier, Acacia is Africa, is a premier provider of diverse holiday experiences in Africa. They have partnered with B4B Payments and used their financial services for nearly a decade. Offering a range of tours, from professional camping overland adventures to small group safaris, Acacia Africa’s success story demonstrates the innovation of travel finances with Card and Payment Solutions.

Financial Flexibility and Risk Management:

The traditional challenges of tour guides carrying large sums of money were significantly mitigated by adopting B4B’s card and payment platform. This not only reduced operational risks but also enhanced accounting accuracy for Acacia Africa.

The expense cards allow Acacia Africa to quickly distribute funds to tour leaders out on the road. The cards facilitate seamless access to cash through local ATMs, card transactions, and online payments. The B4B platform is particularly helpful in mitigating risk. Cards can both be loaded and unloaded instantaneously, providing certainty and safety to both tour guides and the funds. 

In a recent incident, Acacia Africa withdrew funds from a card due to a tour leader’s unexpected illness. They quickly transferred the budget to the replacement leader.

Real-Time Monitoring and Control:

A pivotal aspect of Acacia Africa’s success with B4B Payments lies in the platform’s real-time monitoring capabilities. The ability to instantly track expenditures provides Acacia Africa with immediate insights into tour leaders’ spending. This newfound control eliminates the need to chase receipts weeks after a trip concludes, offering a more streamlined and accountable financial management process.

It’s flexible, and it makes things far less risky. And it’s better for accounting because I can see when and where the money is spent, and that’s important,” Vivian McCarthy, the Director of Acacia Africa, says.

B4B’s Dedicated Account Management:

Acacia Africa also highlights the importance of having a dedicated account manager as a key component of successful partnerships with B4B Payments. The need for swift assistance, especially during critical situations. This collaboration aspect has proven crucial in ensuring effective communication and problem resolution.Having a dedicated account manager who understands both the client and the client’s industry is a key value driver for B4B Payments,” says Tim Robson, B4B’s Director of Accounts.

Conclusion:

Acacia Africa’s case exemplifies the transformative impact of B4B Payments on travel finances. The seamless integration of innovative payment solutions has not only addressed traditional challenges but has also positioned Acacia Africa for sustained success in the dynamic landscape of African tourism. The partnership is a testament to the importance of real-time financial management and dedicated account support in the travel industry.

Categories
Case studies Company News FinTech

Juni Accelerates Global E-commerce Growth Through B4B’s Bin Sponsorship

Background

Swedish startup Juni was listed as 2021’s fastest-growing fintech startup in Europe. With a goal of eliminating common challenges faced by e-commerce businesses, Juni provides a financial platform that gives them complete visibility and control over their cash flow with a unified view of multi-currency business accounts, corporate virtual cards and flexible credit with unparalleled insights and analytics – all in one place. 

Since 2022, Juni has leveraged B4B Payments’ BIN sponsorship service to power its prepaid Mastercard card proposition and make it easy for businesses to keep track of their finances across multiple platforms. By partnering with B4B, they can ensure compliance, strengthen our presence in the UK, and enhance scalability. This collaboration reinforces our commitment to empowering FinTech innovators and established players alike, fostering a more inclusive and efficient financial landscape for SMEs.

B4B: Full digital payment solutions within one provider

B4B Payments stands out by providing a full range of financial services as a regulated Electronic Money Institution (EMI) in the UK and Lithuania. As a Principal Member of Mastercard Europe and a partner of VISA Inc in the USA.

Following Brexit, many pan-European fintechs that operate in the UK have been impacted by the change in regulation. Therefore, teaming up with Banking-as-a-Service(BaaS) providers, like B4B, ensures they can still provide the unwavering compliance, security, and quality service we pride ourselves on.

Strategic partnerships take businesses to the next level.

The partnership between Juni and B4B Payments is a significant step towards achieving our mission of empowering businesses with practical and secure financial management solutions. By leveraging B4B Payments’ licensed capabilities in the UK, they can navigate the complexities of the post-Brexit regulatory environment while maintaining the highest security and compliance standards for their valued customers.

Samir El-Sabini, Co-founder and CEO of Juni, highlighted the benefits of partnering with B4B. 

“We have a long-standing partnership with B4B, primarily in the UK, that has enabled us to scale Juni and continue our fast-paced growth while, most importantly, giving our customers more value when using our platform. Through B4B, we’ve launched both new currencies and cards, and we’re looking forward to building out our offering in 2024.”

Paul Swinton, CEO of B4B Payments, also shared, 

“We’re delighted that we supported bringing the Juni prepaid Mastercard to market at its early stage and to see our payment solutions leveraged innovatively to empower e-commerce and digital marketing entrepreneurs. As an established fintech firm ourselves, we’re excited to be part of Juni’s continued success, and we look forward to working closely with them to achieve their ambitious roadmap.”   

Future: Power any idea to the global market:

Utilising BaaS, companies can seamlessly embed financial services from B4B’s Banking Stack and License, fostering innovation. This streamlined approach reduces operational costs, enhances the customer experience, and accelerates the development of the fragmented B2B FinTech Market. Startups can scale rapidly, delivering exceptional customer value and addressing underserved markets more effectively.

The partnership with Juni exemplifies B4B’s Bin Sponsorship, facilitating global growth post-Brexit, accelerating the development of the B2B FinTech market, and removing barriers and costs for unserved markets, allowing SMEs to grow quickly and at a low cost without compromising quality.

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Case studies Company News

Innovating Employee Benefits: the postcode restriction payout card

Beyond Payment Solutions

ICP Transaction Solutions GmbH, a prominent player in electronic transaction solutions in Europe, specialising in the prepaid, lifestyle, and loyalty sectors, has evolved into an internationally recognised company since its founding in 2000. With a transaction volume exceeding €1 billion, ICP serves various industries and is a founding member of the German Prepaid Association. ICP is a company of Digital Reload Holding GmbH and operates under the umbrella brand Digital Reload

Partnering with B4B to support Tax-Free Benefits for employees

In 2019, recognising the potential of offering regional benefit cards/employee cards, ICP sought the expertise of B4B Payments. Lacking financial institution licenses, ICP collaborated with B4B to introduce personalised and geographically limited payout cards. B4B Payments guided ICP through compliance checks, set up accounts and clients in the portal, and managed the card ordering and shipping process. The partnership extended to top-notch customer service and effective partner management, allowing ICP to offer tax-free non-cash benefits to employees through branded payout cards.

The Innovation: Quick Response to Client Requests:

B4B’s diverse card types with customised designs cater to ICP’s clients’ needs. For example, one of ICP’s clients wanted the card to be eligible for a specific region in Germany to boost the local market. The B4B team developed bespoke postcode restrictions to fulfil this client’s particular request. ICP also successfully implemented a German portal via API mirroring B4B’s, further enhancing their value proposition and branding capabilities with clients. 

Future Goals and Collaboration:

B4B successfully onboarded a new client in Bavaria with 3000 employee cards this year. Building on this,  ICP plans to diversify its card offering, attract more clients, and use B4B’s expertise in different sectors to expand the partnership in Germany.

Alexandra Ruth, the Key Account Manager from ICP, says, “ICP highly recommends B4B Payments and acknowledges their professionalism, reliability, and product flexibility while maintaining high-security standards. We’re very happy with B4B’s account management support in helping us build the partnership, especially Tim and Zvez.”

In Summary:

The collaboration between ICP and B4B Payments has not only addressed a critical business need but has also paved the way for innovative employee benefit solutions, offering tax-free non-cash benefits seamlessly. This partnership proves to be a cornerstone for ICP’s growth and success in the electronic transaction landscape, highlighting the transformative impact of B4B’s payment solutions.

“I’m excited to be working with ICP,” says Tim Robson, B4B Account Director. “Their growth plans mirror our own; we both want to grow in the German market, and I look forward to expanding this collaboration across different sectors.”

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Case studies Company News insurance

Transforming Insurance Operations: IMG’s Partnership with B4B

In the fast-paced realm of insurance, quick solutions are essential for sustained success. IMG (International Medical Group), a leading provider of global travel and health safety solutions, is famous for its commitment to superior customer service and continuous improvement. By leveraging B4B’s payment services, it sheds light on how prepaid cards have redefined both customer experience and operational efficiency.

Evolution and Innovation:

IMG is a global insurance benefits and assistance services company that has served millions of members worldwide since its founding in 1990. IMG, renowned for its service and responsiveness to policyholders, offers a wide range of insurance programs, including international private medical insurance and travel medical insurance. IMG also provides enterprise services, including insurance administrative services and 24/7 emergency medical, security, and travel assistance. 

The Partnership with B4B:

Starting in 2022, B4B and IMG joined together in a partnership to provide cards to employees to assist policyholders in trouble, primarily in motor and health insurance. IMG uses B4B’s award-winning portal, a tool that empowers them to offer assistance in three currencies, catering to the diverse locations of their employees, clients and policyholders.

Example Case:

In emergencies, the prepaid card provided by B4B becomes a lifeline, allowing IMG employees to make urgent payments for repairs or medical fees promptly. The card ensures swift assistance during critical moments. 

Furthermore, the seamless integration of B4B’s services allows IMG to effortlessly track all incident-related expenses, providing transparency that streamlines financial oversight and ensures compliance—a critical aspect in the insurance industry.

Efficiency and Instantaneous Solutions:

One of the key highlights of the partnership is the seamless integration of B4B’s services into IMG’s operations. Ben Halbert, Head of Business Solutions and Operational Support at IMG, emphasises the value of B4B’s services in facilitating instant and targeted financial assistance. 

“Our partnership with B4B has allowed us to offer new services to our clients and means that we can pay providers promptly, ensure that policyholders are not unnecessarily out of pocket and provide a superior customer journey,” says Ben Halbert, the Head of Business Solutions and Operational Support at IMG.

B4B’s Role in the Insurance Industry:

Beyond meeting IMG’s immediate needs, B4B is pivotal in supporting the broader insurance industry. By providing cards for instant payouts to service providers, B4B contributes to a more streamlined and customer-centric insurance ecosystem.

Conclusion:

“The IMG and B4B partnership is a growing collaboration which shows how we can jointly help the insurance sector with payments,” says B4B Account Director Tim Robson. By leveraging B4B’s prepaid card, IMG has not only enhanced its operational efficiency but has also elevated the overall customer experience.

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Company News Newsroom

The big questions and hot topics from Money 20/20 USA

Money 20/20 is like Christmas in many ways. There’s a lot of hard work and preparation in the run-up, especially if you are hosting a stand. And then it’s all a bit of a blur for a few fantastic days. 

The B4B Payments team got together recently to unpack our observations, compare notes, and consolidate our learnings. Here are some of our key takeaways from Money 20/20 USA, held in Las Vegas.

Digital identity and a Snickers bar 

After just a few minutes of walking the event floor, you would have been struck by one thing. Digital identity was front and centre, both in terms of exhibitor stands and speaker sessions.

In one lively panel session, the topic of data access and identity governance was discussed. Digital identity expert Dave Birch questioned whether consumers really knew the value of their own data and speculated that most of them ‘would be happy to give away all their personal data to Facebook for a Snickers bar.’ This clearly indicates there needs to be some formal structure for identity and data access that is fair and equitable for all parties.

The Banking-as-a Service (BaaS) versus Embedded Finance debate

A big talking point on the B4B Payments stand was the confusion between BaaS and embedded finance among our U.S. visitors. 

Of those who had heard of BaaS, many did not really know the difference between it and embedded finance – or simply assumed they were the same thing.

By the end of the event, we had boiled down our explanation of the difference between the two into these three major areas:

  • Different functionality – BaaS gives you the ability to offer traditional banking services. These are usually provided by a bank or licensed fintech service provider via a single API.  Embedded finance, on the other hand, offers a much broader set of financial services via multiple API integrations.
  • Different use cases – BaaS is generally used by organisations for whom financial services are their core offering, such as Neobank. Embedded payments are often used by companies for whom financial services are not their core offering, such as a telecoms company. In this case, the telecoms provider could use embedded finance to help their customers buy more of their products by taking out a loan or offering a BNPL option.
  • Different supplier relationships and regulatory obligations – BaaS is usually provided through a single supplier (a bank or a more modern licensed fintech such as B4B Payments). The supplier takes on the bulk of the regulatory burden, and their clients are expected to adhere to specific regulations. These will be monitored by the BaaS provider. With embedded finance, the regulatory responsibilities are distributed between the different financial service providers and non-financial companies. 

Some topics that were not so hot

Similarly, the metaverse was not such a hot topic as we all await stronger case studies and more decisive evidence of customer adoption. 

The lack of open banking exhibitors or content highlighted the difference between the US and European markets. This is something that is likely to grow in the future as open banking gathers pace in the US.  

The technology gap exposed

The differences between the U.S. and Europe in terms of payment technology and experiences remain quite stark. One of the clearest examples of this was highlighted during the ‘Keeping Up with Expectations in Embedded Finance’ panel session at the start of Day 2.

Daniel Crisologo, Director of Payments from Nordstrom, stated that their business had only started offering contactless in response to the COVID outbreak in 2020. In the UK, the rollout of contactless payment acceptance by the largest organisations happened more than a decade ago. Contactless payments accounted for over 70 per cent of pay-as-you-go transactions at Transport for London (TfL) by 2022 – including paying for more than 2.5 billion TfL bus journeys in that time.  

Similarly, BNPL was discussed as an emerging payment option for U.S. consumers, but it is well-established in the UK and Europe. BNPL is predicted to grow at 25% each year in the UK from 2022 to 2028. This is partly due to its ability to help consumers through the current cost of living crisis. 

The customer experience

The panel discussed the importance of delivering a consistent customer experience. Whether you are serving consumers or business buyers, it is essential to make the same payment options available across all channels for a friction-free, high-converting buyer experience.

The trend towards digital wallets was a talking point, given predictions that their user base will grow strongly to exceed 5.2 billion globally by 2026, an increase of over 53% from 2022 levels. This is because of the potential for universal and merchant wallets to empower consumer purchasing and increase loyalty. 

In a discussion that was relevant to both BaaS and embedded finance, the topic of commercial models was raised and the need to condense those across the virtual SaaS industry. Using a single service provider with one API integration is a good start. The need to simplify layers and connectivity in the payment orchestration process will also be key to preventing friction for buyers and impacting conversions.  

Staying ahead of the game

As B4B Payments continues to grow from its UK base to the U.S., it is interesting to note the differences and nuances between these two dynamic markets. Money 20/20 remains the industry barometer for payment conversations and trends. 

The interest in embedded payments is strong, and the U.S. market is beginning to understand the important differences and opportunities offered by Banking-as-a-Service. 

In difficult economic times for both business buyers and consumers, it is good to see the payments industry continuing to focus on how it can most effectively empower businesses and enhance profitability.

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Company News Newsroom

B4B Payments is shortlisted as a finalist at The Card & Payments Awards in the Best Payments Industry Newcomer category!

B4B Payments, in partnership with Banking Circle, offers a full suite of payment solutions, bridging gaps in the fragmented B2B FinTech market. We empower Danish FinTech startups like OneMoneyWay and Zento, providing tailored financial solutions and ultimately supporting inclusive payment solutions in the underserved SME market.

Empowering the FinTechs to Provide Better Financial Service to the Unserved Market

OneMoneyWay and Zento are both Danish FinTech startups that partner with B4B, aiming to simplify corporate payments for SMEs, eliminating the lengthy processes and high costs typically associated with opening a corporate bank account in Denmark.

Zento’s CEO, Rashid Ahmad, shared the difficulties of opening a business account in Denmark at B4B’s Annual Client Forum.

Providing Tailored Financial Services with B4B’s technology

By utilising B4B’s Embedded Finance Services and API integration, OneMoneyWay and Zento can tailor their offerings to suit the specific needs of their clients, providing them with a simplified and user-friendly financial platform with DKK, SEK, EUR, USD and GBP accounts. Through these accounts, B4B has payment services in local market rails and 25+ currencies through SWIFT & NACHA.

Oliver Bentzen, CEO of OneMoneyWay, highlights the benefits of partnering with B4B.

“B4B Payments are especially skilled in the field of compliance, where they truly outpace their competition. For us, that means our clients get onboarded much faster than our competitors, and that makes us an attractive solution to end customers.”

OneMoneyWay’s CEOs, Oliver & Casper, met with B4B’s Account Director, Tim Robson, in our London Office.
Summary: B4B is the strongest support for inclusive payment

Together, OneMoneyWay & Zento have shortened the onboarding time for opening business payment accounts in Denmark from 3-6 months to 2-6 weeks. Underserved SME businesses are able to use this speed to reduce potential costs and grow their businesses faster, which, in turn, provides benefits to marginalised communities and the wider Danish economy.