Industry26th October 2021

Making transactions faster for IPOSUP customers

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We’re working closely with IPOSUP, an app-based card and bank payments service dedicated to supporting micro-merchants as well as small and medium-sized businesses in the UK. IPOSUP’s business customers benefit from a simple and streamlined app that syncs with a pocket-sized card reader for transactions. It’s easy to accept and process payments near-instantly, all while making it simple to transfer internally for day-to-day cash flow management.

In September, IPOSUP processed their first client transaction on behalf of a micro-merchant looking to benefit from near real-time payment processing. Dr Chandra Patni, CEO of IPOSUP said “The number of micro and small businesses has grown to over 5 million after the COVID-19 pandemic and subsequent lockdown measures. As an entrepreneur, I understand that it’s not easy for start-ups to sort out their banking and payment requirements when they have a lot on their plate. Through our partnership with ClearBank, we collate banking, payments and ESG all into one unique, fast, simple and transparent mobile application.”

We're providing IPOSUP with our industry-leading API-led Agency Banking offering – client safeguarding capabilities alongside accounts and payments. In this payments and account sandbox, IPOSUP can autonomously create and assign individual virtual accounts with publicly addressable Virtual International Bank Account Numbers (vIBANS) to each end-user. IPOSUP's customers can now execute Faster Payments through ClearBank's direct participation in the UK payment schemes, enabling near-instant clearing of their transactions. This means we’re working to make transactions faster and easier for customers and businesses alike.

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