Transact Payments partners with Tell Money to deliver an off-the-shelf PSD2 solution – making open banking easy.
Payments innovator, Transact Payments, has helped to address one of the central challenges of PSD2 by partnering with cutting-edge technology provider, Tell Money.
Many companies are struggling to meet the regulatory requirement of PSD2 to provide a “dedicated interface”, with little understanding of what’s involved, why they are doing it, and how much it will cost.
Tell Money’s tell.connect product provides organisations with an easy to implement, low cost solution. By adopting an end-to-end approach, tell.connect enables programme managers, challenger banks and other payment institutions to meet their regulatory obligations with little or no development, and at a rapid pace.
Kriya Patel, CEO of Transact Payments, said “We are very pleased to be working with the team at Tell Money. Having run several successful FinTechs and Programme Management businesses, they understand the real challenges and requirements in this complex area. tell.connect can be seamlessly integrated within a matter of weeks, reducing risk, cost and most importantly meeting the compliance requirements, without significantly impacting our customers business as usual initiatives and focus.”
David Monty of Tell Money said: “PSD2 needn’t be a burden, but getting it wrong is too risky to contemplate. We built tell.connect to help our colleagues and partners to comply, without breaking the bank or distracting them from their core focus. By covering the full scope of requirements, including a client-branded developer portal, oauth authorisation and authentication engine, full TPP lifecycle management and regulatory reporting, we offer a truly end-to-end package. In these challenging times, we are very excited to be able to work with Transact Payments, giving our customers one less thing to worry about.”
ABOUT TELL MONEY
We are an organisation comprised of successful founders, leaders and experts in the FinTech space. We are the team behind a range of businesses covering e-money issuing, payment processing, challenger banking services, prepaid programme management, and open banking, as well as delivering board-level advisory services and innovative technology solutions into the banking and financial technology markets.
ABOUT TRANSACT PAYMENTS LIMITED
At Transact Payments Limited, we have built a reputation as the experts in payment and card solutions. We provide innovative and flexible European BIN sponsorship and modular payment, debit and prepaid services. We are a licensed European e-money institution, regulated by the Gibraltar Financial Services Commission, and Principal Members of both MasterCard and Visa.