News from the Wire

Tribe Payments powers up Ribbon’s processing

Wednesday, December 04, 2024 — 12:55:27 (EST)

London, UK. 4th December 2024: Tribe Payments, a leading digital payments and infrastructure orchestrator that specialises in issuer and acquirer processing, has partnered with digital financial platform, Ribbon, enabling the company’s launch first in Gibraltar and, most recently, in the UK.

Founded in Gibraltar in March 2020 by Ashesh Jani and Suchit Punnose, Ribbon is a carbon neutral digital financial services super-app, catering to the Non-Resident Indian diaspora in the UK. The multi-purpose app is designed to cater to both personal and business users, offering a suite of services including hyper-personalised financial services, multi-currency accounts, and instant transfers to India and other countries.

Ribbon first went live in Gibraltar earlier this year, powered by Tribe’s issuer processing, and following a successful debut, the company launched its services in the UK at the end of October.

“Our UK launch is the realisation of a long-held ambition to make it as easy as possible for people to send money to family and friends across the world,” says Jani, who also serves as Ribbon CEO. “Tribe has been integral in getting our proposition off the ground, with its wide-ranging suite of products, a perfect match for our super-app.”

Fellow Co-Founder Punnose adds: “We are most proud of how every single one of our card transactions – each one enabled by Tribe’s issuer processing – counts towards a sustainable tomorrow; our users can use the in-app tracker to monitor their carbon footprint.”

In addition to issuer processing, Ribbon will benefit from Tribe’s proprietary Risk Monitor platform, which allows for real-time assessment of card transactions against an array of predefined conditions, allowing Ribbon to have oversight and confidence in providing protection to their customers and meeting anti-money laundering (AML) requirements for electronic money institution (EMI) license holders.

Ribbon will also benefit from Tribe’s 3D Secure solution (3DS), which provides a seamless authentication service for banks, fintechs and acquirers. 3DS has become an essential part of risk management and fraud prevention for any business that takes online payments.

“I’m delighted to see that Ribbon has enjoyed a successful UK launch,” says Tribe’s Chief Operating Officer, Lynda Clarke. “Just as Tribe navigates the scale-up journey, it gives us great pleasure to see how we continue to enable new brands to make their mark in the payments space, especially one as innovative as Ribbon, which aims to increase financial inclusion.”

Jo Lawrence, Head of Customer Success at Tribe, comments: “It’s fantastic to be partnering with a pioneering sustainable financial platform like Ribbon. It has been a real pleasure to work with the Ribbon team, and we look forward to further empowering Ribbon as they seek to expand into new regions.”

ENDS

About Tribe Payments

Founded in 2018 as an issuer and acquirer processor, Tribe has grown into a digital payments and infrastructure orchestrator that empowers merchants, banks, fintechs, issuers and acquirers with an extensive ecosystem of products, so they can build, customise, and deliver innovative programmes at speed, without compromising quality.

Tribe is Europe’s only processor working with Mastercard, Visa, American Express, UnionPay International, Discover and JCB, offering unrivalled global connectivity through just one integration.

It is one of the few providers who can easily help fintechs become both an issuer and acquirer through its proprietary API-led technology; with other innovative solutions in its armoury including POS/SoftPOS, Digital Wallet and Risk Monitor.

Tribe’s mission is to deliver payment technology that no longer compromises between scale and speed via its modular, scalable and secure (PCI Level 1 compliant) cloud-based platform.

To find out more visit www.tribepayments.com

About Ribbon

Ribbon is a carbon-neutral financial services app designed to simplify and enhance access to multi-currency accounts and international payments for the global Indian. With a commitment to sustainability, Ribbon offers a suite of financial tools and services, at competitive currency exchange rates. Its smart analytics features empower users to manage their finances efficiently, whether at home or abroad.

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Source: Company press release.