Raphaels Bank partners Avuba for alternative payment account

Source: Raphaels Bank

Demonstrating its growing reputation for delivering pan-European innovative payment solutions, Raphaels Bank Payment Services, has signed a partnership deal with European start-up Avuba.

The new deal will see Raphaels Bank, a leading player in the emerging payments market, support the launch of an alternative payment account from Avuba for consumers in Europe.

Avuba is offering a European mobile payment service, providing smart-phone users with the ability to make payments on the go. A simple mobile app will enable instant, peer-to-peer SEPA and card payments with immediate alerts.

Raphaels will issue a prepaid MasterCard to Avuba customers as part of Avuba’s ‘Banking Lite’ app-based proposition. This will include the ability for SEPA Credit Transfers and Direct Debits through Raphaels’ indirect membership of the Single Euro Payments Area (SEPA) scheme.

Mike Smith, Commercial Director for Raphaels Bank said: “The partnership with Avuba really harnesses our experience in providing innovative payment products to a range of major brands, while building our reputation as a leading authority in alternative payments technologies across Europe. When there is a complex or niche requirement to fulfil, such as this alternative proposition from Avuba, we have the skills, experience and appetite to deliver.”

Jonas Piela, CEO, Avuba added: “Our mission is to make banking a simpler and more enjoyable experience for consumers across Europe. In Raphaels Bank we have found an experienced partner with the skills and experience of executing such large-scale projects.” 

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