Weavr integrates B4B payments, boosting European payment flexibility
Embedded finance specialist Weavr expands its capabilities by integrating B4B Payments, the globally recognised provider of card issuing and integrated payment services, into its embeddable financial solutions platform. The partnership marks a significant step in Weavr’s evolution into a multi-financial institution provider model, reinforcing its leadership in embedded finance and enhancing the choice and flexibility offered to customers.
B4B Payments, a Banking Circle Group company, allows Weavr to not only strengthen its position within its current markets but also allows the embedded finance provider to expand into key European markets outside the Eurozone and validates a model for expansion that can follow the customer beyond Europe.
By integrating B4B Payments and Banking Circle’s infrastructure, Weavr enhances localisation, enabling corporates in different European markets to operate with local financial capabilities, including IBANs, BINs, Apple Pay and Google Pay. The capabilities represent key requirements for smooth financial operations and scalability across new markets, and for meeting the increased demand from customers for localised financial solutions.
Following the integration of B4B Payments, Weavr can provide its customers more flexibility in payments, including both Visa and Mastercard card schemes, localised IBANs across the UK and multiple European jurisdictions and currencies across the UK and Europe, and access to international transfers and foreign exchange capabilities. A key example of Weavr’s expanded capabilities in action is Employment Hero, who partnered with Weavr to support its UK operations, in particular helping an HR software company navigate the country’s payroll landscape more effectively. The extensive financial infrastructure the integration provides aligns with Weavr’s strategy to become a multi-financial institution provider, integrating multiple banking and payment partners to deliver a more comprehensive and localised solution for businesses.
Regarding the impact of the integration, Alex Mifsud, CEO and co-founder of Weavr, said: “Choice is always a top priority for payments, both for customers and businesses. Embedded finance solutions can provide that choice thanks to the wide range of networks and technologies they support. With B4B integrating into Weavr, we have increased the number of options available to our customers in new European markets, whether it be providing local IBANs for businesses looking to expand across Europe or the ability to choose between payment networks. Our latest partnership simplifies the embedded finance process by offering a low-build, compliant, and ready-to-deploy solution.”
Tom Jennings, CEO of B4B Payments, added: “Companies entering new markets often face unexpected financial and banking complexities, from local payment infrastructures to regulatory requirements. Partnering with Weavr allows our customers to take advantage of its embedded financial solutions, which are tailored to their individual needs depending on their country and local legislation. It has enabled our customers to scale their business faster and with greater confidence, finding new markets and new customers of their own.”