ClearBank and Visa have joined forces to accelerate real-time payments across the UK and Europe, leveraging ClearBank’s cloud-native infrastructure and recent European banking licence.
ClearBank and Visa have announced a strategic partnership aimed at accelerating real-time payments in the UK and Europe, capitalising on ClearBank’s cloud-native infrastructure and recent European banking licence. The collaboration marks Visa as one of the latest beneficiaries of ClearBank’s European reach, opening up new potential for local and cross-border transactions through streamlined processes and enhanced transaction visibility.
ClearBank’s infrastructure, now supported by a European Credit Institution Licence from the European Central Bank, enables Visa to expand its real-time payments footprint. ClearBank’s cloud-native system promises Visa efficient transaction processing across both UK and European payment rails, offering clients a simplified reconciliation process and faster payments.
“ClearBank and Visa have a shared vision to drive innovation in the industry and deliver greater value for our customers, so this partnership is a natural fit. Today’s announcement is only the beginning of our multi-faceted collaboration, and we’re excited to see how we can continue to provide our mutual customers with the right technology to innovate and empower them to build new propositions. We’re delighted to have Visa onboard as we continue this journey,” said Emma Hagan, ClearBank’s UK CEO.
In addition to real-time payments, Visa’s money movement solution, Visa Direct, will be part of this joint effort, enabling instant cross-border payments across 190 countries. This expanded capability allows for local in-country collections, multi-currency support, and payments to cards, accounts, and wallets. As part of the initiative, ClearBank will begin issuing Visa cards in the UK, further broadening its services.
This partnership follows ClearBank’s recent move into the European market, a notable milestone for the UK-founded bank. According to Mandy Lamb, Visa’s Managing Director for the UK and Ireland, “ClearBank has seen strong growth in the UK, and we are thrilled about the prospect of collaborating with them across multiple areas including issuing Visa cards and enabling real-time international money movement.”
The demand for swift and reliable payment solutions has been rising globally, with real-time transactions significantly improving customer experience. According to a recent PYMNTS report, 77% of organisations reported enhanced customer satisfaction with the implementation of instant payments, and over half found these transactions helped mitigate issues in urgent payment situations.
With ClearBank and Visa now positioned to drive these capabilities across Europe, the collaboration underscores the growing shift toward real-time solutions in response to evolving customer expectations.