Company announcement: Lerex Technology

Transact Payments Limited (TPL) has teamed up with new UK-based fintech Lerex Technology to help companies bring their prepaid payment solutions to market via a fast, simple and stress-free process.

The payment solutions provider specialises in launching prepaid card programmes for a variety of business needs, from start-ups requiring a simple product to prove a concept, to larger brands requiring a bespoke payment option. Lerex Technology’s established and experienced team provides clients with full end-to-end support, from inception to delivery, which can take place in a matter of weeks.

Richard Ney, CEO of Lerex Technology, says: “As a programme manager, we’re small enough to give personal service but big enough to give our clients confidence that we are a robust and properly funded business. Our partnership with a leading player such as TPL is an endorsement of that.”

Noel Smith, Business Development Director at Transact Payments Limited, says: “In the face of current business challenges created by the Covid-19 crisis, companies need all the support that they can get. Simple, affordable and quick solutions are really important right now. We’re pleased to be able to help provide this to the market by becoming Lerex Technology’s card issuer.”

Jill Trembeth, Lerex Technology’s Chief Operating Officer, adds: “TPL offers everything we need and they have an unmatched reputation in the industry. We have been impressed by the support and service the entire TPL team has offered to us and our clients.”

Lerex Technology launched its first card programme in 2018 and is currently working with clients across both the consumer and corporate sectors. . The Lerex payment platform operates with the Mastercard network, which means clients can offer their customers access to funds around the world where Mastercard is accepted.

Its ‘Off the shelf’ solution offers businesses a one-year contract that includes card design, standard API integration, full FX support and email technical support, all for an affordable one-time set up fee and monthly subscription payments. “Our ‘Off the shelf’ package offers a great opportunity for clients to test and learn in the payment space with a low-risk product that is quick to market,” says Richard Ney.

The ‘Build your own’ solution, targeted at larger companies, gives clients the option to use their own branding across the entire programme and have API customisation. For a competitive one-time set up fee and ongoing costs, clients receive full programme management support and a designated account manager.

Lerex Technology’s additional services, including agency banking, first-line customer support and production of front-end interfaces such as mobile apps.