Pan-European digital wallet using Moorwand’s issuing, acquiring and BIN Sponsorship services
Moorwand, which aims to transform compliance into an enabler of innovation, has been selected by TWIGA Wallet for issuing, acquiring and BIN Sponsorship services ahead of the launch of TWIGA Card. The TWIGA Card is the companion to the TWIGA Wallet and will be available either as a debit or full IBAN account to consumers across Europe.
TWIGA Wallet, launched in March 2020 and aimed at millennial users, is unlike most digital wallets. The product is fully customisable, allowing customers to pick and choose features and bespoke design, resulting in a made to measure e-wallet that fits the customer’s exact needs. Along with compelling features like pay-by-email and P2P payment between users, the wallet is pre-integrated into the check-out of leading merchants making paying online fast and simple. Onboarding is simple and transparent and customer support is available 24/7 via the live chat option within the app and web portal.
Moorwand has been selected as the issuer of the TWIGA Card, making either the debit or full IBAN enabled card available to consumers across Europe. The IBAN account will allow users to make SEPA transfers within the European Economic Area. TWIGA Wallet will also take advantage of Moorwand’s merchant acquiring services allowing users to easily add funds to their account with a variety of payment methods. Finally, Moorwand will act as a BIN Sponsor on behalf of TWIGA Wallet providing it with a single compliant connection to a variety of payment schemes for transaction processing and settlement of cardholder funds.
“Today’s consumer – especially millennials – want a 100% digital wallet that is intuitive, easy to use and flexible to their needs. They don’t want an analogue onboarding process with difficult to understand small print to get an out-of-the-box product,” said Marios Koutoumanis, Chief Operating Officer at TWIGA Wallet. “The TWIGA Wallet breaks the mould by providing a fully customisable digital wallet with a range of innovative features that can be used anywhere in Europe. With the TWIGA Card we can now open up a universe of payment services for our new and existing customers.”
“TWIGA Wallet is an ambitious brand looking to achieve rapid growth by constantly evolving its product suite and expanding into new markets. We needed a partner that shared our vision, was highly collaborative, and had the expertise to deliver compliance at the speed of innovation. Moorwand has helped us to meet our ambitions, and with the launch of the TWIGA Card on the horizon, the company will be integral to our next phase of growth.”
“As an innovative fintech, we want to work with other fintech innovators that are looking to create fresh and different payment propositions to meet the emerging needs of new consumer demographics,” said Luc Gueriane, Chief Commercial Officer at Moorwand. “The combination of TWIGA Wallet and TWIGA Card offers a level of customisation, flexibility and ease of use rarely seen in digital wallets. We have been able to rapidly orchestrate an agile and dynamic programme that reduces payment friction whilst ensuring compliance. And we cannot wait for the dual offering to make its market debut.”