ClearBank, a clearing bank in the UK, has teamed up with bill payment collections provider allpay to offer ‘banking lite’ services to the country’s prepaid card market.

ClearBank’s technology, built on a Microsoft Azure platform, supports allpay’s foray into agency banking.

Under the partnership, allpay will offer ClearBank’s cloud-based platform to its customers, who comprise central and local government agencies as well as the housing and charity sectors.

allpay said that through ClearBank’s platform, it will offer its clients access to Bacs, Chaps and Faster Payments.

allpay managing director and founder Tony Killeen said: “allpay was established with the intention of helping clients to save money through creating modern payment systems that are both cost- effective and convenient for the end user.

“Partnering with ClearBank allows allpay to move to the next level, bringing together those natural alliances of a financially regulated business and agency banking, strengthening our prepaid solution. This is a significant step in our expansion to support the Government wide Universal Credit strategy.”

ClearBank executive chairman and founder Nick Ogden said: “We are absolutely delighted with this partnership and look forward to working with allpay on bringing new and enhanced products and services to a vast range of public and private sector organisations.”