Specialised payments platform Paysafe (NYSE:PSFE) today announces a new partnership with Bankable, a global architect of ‘banking-as-a-service’ solutions. Through the global agreement, the two companies will collaborate to launch a broad range of integrated, omnichannel banking services from Paysafe.

Bankable provides a scalable and secure API and white-labelled platform which supports companies to deploy targeted solutions, drive revenues and reduce costs using its banking-as-a-service solution. This will serve as Paysafe’s new core banking platform, providing the company with supporting technology to advance its payments infrastructure. This will in turn enable Paysafe to enhance the value-added services it provides to customers in specialised industries around the world.

Paysafe has previously collaborated with Bankable on its card issuing services including the roll-out of prepaid cards for the British Red Cross in 2020. This latest development in the partnership is the first extension into the area of banking-as-a-service solutions.

Noah Sharp, Chief Banking Officer at Paysafe, commented:

“At Paysafe we’re progressing a number of innovative banking-as-a-service initiatives and broadening our network of relationships with leading banks, and we have a lot of exciting plans up our sleeve. To work with a strong, proven partner like Bankable, and the highly experienced team they bring, is an important component of our delivery in this area.”

Eric Mouilleron, Founder & CEO of Bankable added:

“We very much value our multi-layered partnership with Paysafe and we’re delighted to announce this extension as we become the company’s core banking partner. Paysafe is an ambitious organisation with some exciting plans ahead and we are looking forward to supporting the company in the launch of its banking services on a global scale.”