‘BANK-IN-A-BOX’ LETS COMPANIES CREATE BRANDED DIGITAL WALLETS AND TAKE CONTROL OF THE PAYMENTS EXPERIENCE
Award-winning payments product white-labelled to help clients get to market faster and cheaper
Challenger payments company, MuchBetter, today announced the discharge of its 'Bank-in-a-box' fully managed solution. Bank-in-a-box enables organisations to launch branded production wallets quickly and easily, letting them take control of their users' payments experience and get to market faster with a sophisticated, compliant and low-cost financial product.
The white-labelled payments service is designed to be ultra-secure while offering a frictionless experience for the end-user – letting them make online and offline payments with only their phone and fingerprint. This makes it an ideal solution for businesses that need to create payment functionality without the cost, expertise and other resources necessary to manage this in-house. It is targeted at verticals such as gaming, travel and retail, all of which are trying to cut time to market, keep costs low, and differentiate their professional services in a crowded market. MuchBetter helps these firms achieve this differentiation via a seamless payment experience in-app, online and in-store (via MuchBetter-powered cards and payments wearables).
MuchBetter’s white label option would be iOS and Android compatible, is fully cloud hosted, highly scalable while offering a number of deposit and withdrawal methods including cryptocurrency. MuchBetter's patent pending dynamic CVV technology also enables Bank-in-a-box clients to create unique theft/loss proof debit or credit cards. All MuchBetter cards have dynamic CVV codes that are generated within the app, not shown on the physical card, meaning cards cannot be used by anyone other than the account owner if they're lost, cloned or stolen.
“The launch of the MuchBetter wallet has been a tremendous success and contains attracted a lot of envious glances,” said MuchBetter co-founder, Prasannaa Muralidharan. “Over recent times, we have been approached by a number of companies including gaming firms and fintech startups who wanted to white label our solution and make various offerings on top of it. Bank-in-a-box offers what the name suggests. It comes with out of the box back-end and front-end solutions, which can be branded to meet the needs of our clients and with full API support to develop completely custom applications using our infrastructure. We've re-architected our entire system to create a platform which can be used to launch several branded solutions with different issuers and processors to launch various bank and prepaid programmes.”
The Bank-in-a-box solution partners with a number of well-known and respected service providers including Wirecard, GPS and Digiseq. The answer also comes with a back-office and fraud management system.
