Raphaels Bank, at the forefront of supporting the emerging payments industry for over a decade, has received recognition for its commitment to ground-breaking innovation in the prestigious 2016 Emerging Payments Awards. The Bank has won Emerging Payments Industry Contributor of the Year Award.
In the last year, Raphaels Bank Payment Services has developed and launched innovative payment propositions for both long-term and new partners, including Cash Passport, Avuba and Vodafone Pay. In August 2016 Raphaels also became the first new fully-operational participant of the Faster Payments Scheme, the UK’s 24/7 real-time payment service, since the scheme’s launch in 2008, allowing it to tailor solutions for fintech disruptors such as TransferWise.
“We believe we have a unique position in the payments sector, which has enabled us to open up a wide range of payment solutions to Payment Service Providers (PSPs)”, explained Janet Johnston, Head of Raphaels Bank Payment Services. “By opening up the Faster Payment Scheme for PSPs through a new direct access model, we are breaking new ground. We are very proud, therefore, to receive the recognition for this commitment with this latest Award.”
“We expect to continue to expand our Faster Payments Scheme direct connection sponsorships during 2017 with a number of other innovative launches, further demonstrating our ongoing commitment to collaboration with innovative and exciting fintech players”
By Maddy Roles