UK-based payments firm Moorwand has collaborated with Global Processing Services (GPS) to introduce a prepaid card solution, called UPayCard, in the country.

Designed for both businesses and consumers, the new UPayCard payment solution is a multi-currency service designed to enable easy transfers between accounts that are on the same UPayCard system.

The solution is intended to minimise time taken for fund transfers and allow secure instant payments.

Moorwand CEO Robert Courtneidge said: “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 managing director Suresh Vaghjiani said: “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.

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“We are delighted to have been selected by Moorwand to help them into their next phase of growth and their issuing services for cryptocurrencies.”