The new Group brand - ecoPayz - has been designed to enable the Group to differentiate its solutions and brands, which have established strong identities over the past decade.

Since its formation in 2000, ecoCard has established itself as one of the leading end-to-end, account and card-based payment solutions to businesses and individuals worldwide, offering an instant, safe and fast means of transferring and managing your money globally.

With the growth of its portfolio the newly rebranded Group - ecoPayz - has also introduced two new brands to its suite. ecoPayz Merchant Account and ecoPayz Business Account which will utilise its ecoAccount and ecoCard products. Using the ecoPayz Merchant Account retailers and merchants will be able to receive / send funds from customers across the globe. Whilst employers using the ecoPayz Business Account will have access to a low-cost and hassle-free means of paying individuals and staff in 44 currencies across 173 countries.

Phil Davies, managing director of ecoPayz, stated: "The logic behind the rebrand is simple - we needed a brand that would represent our growing portfolio of innovative payment solutions."

"Over the last few years we have significantly grown and extended our range of payment solutions to incorporate a range of virtual payment mechanisms, not just physical cards, so the name EcoCard just didn't fit anymore. Launching ecoPayz as our new group brand enables us to offer a flexible and responsive approach to merchants by offering them the best solutions to meet their needs."

The name 'eco' (short for economical) is the umbrella brand and is the preface for each of the solutions within the product portfolio, whilst 'Payz' represents the payments element of the solution.

The new ecoPayz brand portfolio currently consists of ecoAccount, ecoCard, ecoVirtualcard, ecoBusiness Account and the ecoMerchant Account.