ClearBank and PhotonPay Unite in Partnership for Enhanced Financial Services
ClearBank, the provider of real-time clearing and embedded banking services, has announced a collaboration with PhotonPay, an AI-driven global digital financial infrastructure offering payment solutions to businesses worldwide. Through this partnership, PhotonPay’s business customers will gain access to a broader range of financial services, including virtual accounts, GBP collections, payouts, and Confirmation of Payee (CoP) functionality.
Leveraging ClearBank’s API-based banking infrastructure and real-time clearing capabilities, PhotonPay will issue named virtual accounts and provide real-time connectivity to Faster Payments, BACS, and CHAPS. These advanced features will enable UK enterprises to benefit from faster settlement times, more flexible liquidity management, and greater operational control.
“Partnering with ClearBank marks a significant step in expanding our global payment infrastructure,” stated Lewison Chen, Founder and CEO of PhotonPay. “With indirect access to Faster Payments, BACS, and CHAPS, our business customers can now enjoy quicker settlement times, enhanced compliance, and seamless integration into the UK’s financial system. This also provides a strong foundation for our continued expansion across Europe in the coming year.”
“We’re proud to partner with PhotonPay, enabling them to scale using our next-generation banking platform,” said John Salter, Chief Customer Officer at ClearBank. “Indirect access to UK payment rails means PhotonPay can deliver faster, more localized services to their customers. We look forward to supporting their growth and expansion across Europe.”
About PhotonPay
Founded in 2015, PhotonPay is an AI-powered financial infrastructure supporting over 10 global offices and operations spanning more than 200 countries and regions. It enables efficient, secure, and integrated global payments to drive business growth with infinite ambitions.
Trusted by over 200,000 businesses worldwide to address banking and payment challenges, PhotonPay delivers simple, scalable, and customizable solutions including accounts, card issuing, domestic and international payments, and embedded finance.
About ClearBank
ClearBank is a purpose-built, technology-driven clearing bank. With its banking license and advanced technology solutions, ClearBank helps its partners offer real-time payment services and innovative banking to their customers.
ClearBank is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN: 754568).
ClearBank Europe N.V. is authorized by the European Central Bank (ECB) and supervised by the De Nederlandsche Bank (DNB).
For more information, visit www.clear.bank.