UK, London, 22 April – MuchBetter, the award-winning payments company, has today announced a partnership with TrustPay to develop innovative bank transfer solutions.
The collaboration will give MuchBetter the ability to seamlessly combine electronic wallets with conventional banking flows. This will allow customers to create individual, single-purpose IBANs within the MuchBetter ewallet, enabling outbound and inbound payment flows to designated recipients. The ewallet has an easy to use customer interface, runs on open-banking IBAN rails, and is designed to improve customer convenience, reduce payment friction and substantially increase transactional integrity.
“We are always looking out for new ways in which we can improve our user experience – this partnership allows us to do just that,” said MuchBetter co-founder Jens Bader. “By combining TrustPay’s innovative banking solutions with our agile e-money services, we are able to move money in a much smarter way, making transfers a lot easier for our customers across Europe.”
“It is really exciting to be working with MuchBetter on the next generation of money transfers. The opportunity presented by e-money is clear for all to see, so we are happy to be part of the next phase of development,” said David Rintel at TrustPay. “Thus far we have been really impressed by what MuchBetter has to offer and are thrilled to contribute to further innovation of their e-money services. I am sure the partnership will be beneficial for both companies and all of our customers.”
MuchBetter, operated by MIR Limited UK Ltd, an FCA-licensed and regulated e-money issuer, is a new payments application. Available on Android and iOS, MuchBetter make effortless online, offline and contactless payments throughout EMEA. Funds can be transferred and received in real-time, while its anti-fraud features and use of best in class technology reduces risk.
Founded in 2009, TrustPay is a sophisticated provider of payment services across EEA area. Focusing on online businesses, TrustPay provides alternative banking solution, payment gateway for e-commerce merchants as well as other financial institutions. TrustPay is an EU-licensed payment institution and a principal member of VISA, MasterCard and UnionPay International.