Leading financial services business Cardstream and multichannel payments provider PayPoint Plc (PayPoint) have officially announced their collaboration.
The powerful partnership sees PayPoint integrating Cardstream’s Gateway Connectivity into their MultiPay digital payments platform, which will allow it to continue to build a robust and scalable solution for clients.
Respectively, Cardstream is also onboarding the Confirmation of Payee (CoP) service for its automated onboarding processes, which is an industry-wide account name checking service for UK-based payments, developed and owned by Pay.UK and offered by PayPoint as part of their Open Banking solutions.
Cardstream’s cutting-edge payment gateway will give PayPoint a competitive advantage due to a host of features and benefits that include the option to offer alternative payment methods - to meet the consumer demand for new ways of paying for products and services - acquirer independence, as you can white label the service, and deep security and fraud protection.
Adam Sharpe, who is CEO at Cardstream, comments: “The collaboration with PayPoint is another positive milestone on our journey as a leading force in the payments industry - working with partners to ensure we are both the best we can be by offering solutions that are at the vanguard of the sector. This is a relationship that has strong foundations, and we look forward to building on it going forward.”
Jo Toolan, Managing Director, Payments from PayPoint, comments: “We’re delighted to be partnering with Cardstream to expand the range of digital payment solutions delivered via our MultiPay platform. Our expanding range of clients want to give their customers choice and flexibility in how they pay, and this partnership strengthens the service delivered by our market-leading payments platform.”
Cardstream is known globally for its collaboroative approach, having also created the Open®Payment Network (OPN®), an organically expanding network of diverse Partners, who enjoy full access to the company’s cutting-edge IP and are supported in becoming successful competitors in an ever-expanding marketplace.
The Cardstream Group - comprising Cardstream, OBN, Hexobox (the AI ‘brains’) and QED Verify (ID validation in 120 seconds) - has experienced year-on-year revenue growth, with a 46% projected uplift for 2024, based on a bulging order book.
Cardstream also has a back catalogue of recent achievements such as the launch of its PayFac as a Service (PFaaS) last year, which was a European first.