ClearBank, a leading provider of real-time clearing and embedded banking services, has announced a strategic collaboration with Visa to enhance issuance and money movement solutions. This partnership aims to enable seamless processing of local and cross-border transactions, leveraging ClearBank’s cloud-native banking infrastructure. Visa will benefit from ClearBank's real-time payment capabilities, improved transaction transparency, and streamlined reconciliation processes in the UK and Europe. The collaboration comes as ClearBank expands into Europe, having secured a Credit Institution License from the European Central Bank, allowing it to extend its services across the region.
In addition to the initial rollout, the partnership will introduce Visa Direct, Visa’s global money movement solution, enabling real-time international payments to cards, accounts, and wallets in over 190 countries. ClearBank also plans to issue Visa cards in the UK, enhancing its product offerings. Emma Hagan, CEO of ClearBank UK, emphasized the shared vision of driving industry innovation and empowering customers with advanced technology. Mandy Lamb, Managing Director of Visa UK&I, highlighted the collaboration as a critical step in providing businesses with the tools they need to expand. This partnership marks a significant advancement in payment technology, benefiting businesses and consumers worldwide.
