Payments company Sunrate Partners has collaborated with BIN sponsor Moorwand for issuing services with a newly launched card programme.
Moorwand will also provide BIN sponsorship, which will allow Sunrate to access the Mastercard scheme for card processing. It will also offer legal and regulatory guidance to meet compliance requirements.
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Previously, Moorwand supported issuing migrations. Sunrate is said to be the company’s first end-to-end card programme.
Sunrate Solutions co-founder Paul Meng said: “Together with Sunrate’s well-established client base, we expect to see great growth post product launch which will take both Sunrate and Moowand’s global footprint to a whole new level.”
Moorwand CEO Robert Courtneidge said: “Moorwand’s legal and technical expertise makes it uniquely placed to identify developments before they appear, understand the impact of regulations before they are enforced, and anticipate the next waves of innovation before they break.
“This means that Moorwand can help fintechs like Sunrate rapidly orchestrate best-in-class payment propositions designed to capitalise on emergent market changes, whilst ensuring compliance. We expect the service to grow rapidly into a truly world-beating programme.”
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By GlobalDataMoorwand acts as a BIN sponsor, issuer and acquirer. For payment providers, the company delivers electronic money services and access to Mastercard, Visa, JCB and UnionPay card schemes.
This January, Moorwand agreed to issue UnionPay’s prepaid corporate and consumer cards in the UK and the European Economic Area (EEA).
In addition to card programmes, Moorwand offers support for wallet programmes and acquiring service for online merchants.
