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 and is the first programme to be launched by Moorwand.

Once seen as industry FinTech rivals, Robert Courtneidge, the newly appointed chief executive officer of Moorwand, and Suresh Vaghjiani, managing director at GPS will work together for the first time.

“It’s great to finally be on the same team as Suresh,” said Courtneidge on his appointment. “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.”

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.

Suresh Vaghjiani, managing director at GPS, comments: “Robert’s recent appointment as chief executive officer 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.”

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