Fintech Foes Join Forces to Launch Multi-currency Payment Solution UPayCard

LONDON, January 15, 2018

International payments company Moorwand and leading global issuer processer GPS have joined forces to launch the UPayCard branded prepaid card solution to the UK market.

UPayCard is a global multi-currency service for businesses and consumers. It is the first programme to be launched by Moorwand and was brought to market in a record time of less than eight weeks.

Account users have access to a comprehensive multi-currency payment solution that allows them to easily make transfers between accounts present on the same UPayCard system. The service provides added value for both consumers and businesses alike, reducing time of fund transfers and enabling secure instant payments in currencies other than US Dollars.

Once seen as industry FinTech rivals, Robert Courtneidge, the newly appointed CEO of Moorwand, and Suresh Vaghjiani, Managing Director at GPS, recently stepped into a boxing ring dressed as the Joker and Batman respectively for the PayExpo 2017 Payments Punch-up – a lively annual debate on the hottest fintech topics of the day. Despite Suresh adding a third consecutive debate victory to his total, the two men have had a long lasting professional relationship and have always shared one common vision to drive change and innovation in the payments industry.

“It's great to finally be on the same team as Suresh,” said Robert. “We are combining our unique strengths to 'save the world' – or at least to 'rescue' Programme Managers from the growing confusion of what is possible within the increasingly complex world of payments legislation and rules around BIN access to create a strong, transparent engagement with them. GPS is perfect for Moorwand as we need a partner that can move fast so our Programme Managers can leap 'with a single bound' into new products and markets with speed and confidence. We will also help them to work safely with the new 'crypto -nite' that is tainting the emerging payments industry. GPS has already helped us to rapidly launch the UPayCard Solution – and there is much more to come.”

Suresh Vaghjiani, Managing Director, GPS comments: “Robert's recent appointment as CEO of Moorwand creates a compelling proposition for Programme Managers. With a lawyer of Robert's calibre at the helm and his long and distinguished career as a specialist in payments law means that Moorwand's BIN sponsorship solution is exactly what the market has been waiting for. We are delighted to have been selected by Moorwand to help them into their next phase of growth and their issuing services for cryptocurrencies.”

About Moorwand

Moorwand Ltd. is an international business that provides payment services to merchants and customers in the EEA. They are licensed by the Financial Conduct Authority of the United Kingdom (license #500709) as a regulated Electronic Money Institution to issue electronic money (e-money) and provide payment services throughout EEA. They are principal members of Mastercard and Visa as an Issuer of payment cards and an Acquirer of payment transactions.

About Global Processing Services 

Global Processing Services (GPS) is the issuer processor enabling many of today's most high-profile fintech innovators and disruptors. It is certified by Mastercard and Visa to process and manage any credit, debit or pre-paid card transaction globally.

GPS enables the emerging payments industry to deliver breakthrough innovations through a unique combination of proprietary technology, its people and partners.

At the heart of its capability is GPS Apex, its single global issuer processing platform. Built entirely by its own payment experts, GPS Apex offers easy integration with Issuers, Programme Managers, card manufacturers and many other service providers. 

It has integrated with over 40 issuing banks globally and operates programmes for 100+ clients in 60 countries using over 150 currencies, enabling its clients to innovate and deliver exciting new value propositions for end users around the world.

Media enquiries:

Sarah Broughton
[email protected]
T: +44-7890-463-063

Global Processing Services
Nim Haas
[email protected]
T: +44-(0)-20-7553-8845

SOURCE Moorwand and GPS

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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