Rakbank partners with Inpay to offer faster money remittance services to 25 European countries

Jul 19th, 2018

RAKBANK partners with INPAY – a European Fintech remittance service provider – to offer customers the lowest remittance fees in the market when transferring Euros to 25 European nations a charge of 25 UAE dirhams per transfer through RAKMoneyTransfer.

Likewise, it allows customers to send money via the digital banking platform and from any one of the Bank’s 38 branches, where the Euro is credited directly to the beneficiary’s bank account on the same day with no hidden corresponding fees or backend charges.

“RAKBANK is expanding its global presence and the Bank’s remittance footprint into the European corridor through this strategic partnership with INPAY in order to offer customers a seamless banking experience with the new and enhanced remittance services. This will enable our customers to make secure, faster and convenient Euro transfers to 25 European nations.” Said Geoff Stecyk, RAKBANK’s COO.

“Currently we are witnessing a shift in the way people are remitting money abroad and for that reason; we enhanced the customer’s money transfer journey with RAKBANK. Customers can now remit money using their RAKBANK account or credit card. At RAKBANK, we believe that we can achieve great value proposition for our customers through strategic collaborations with FinTech’s rather than competing with them,” he added.

INPAY’s Founder & CEO, Jacob Tackmann Thomsen, said: “This partnership with RAKBANK, one of the most digitally advanced banks in the UAE, demonstrates INPAY’s relevant crossborder payments offering to financial institutions globally. We see this as an excellent example of how INPAY as a FinTech company enables its bank clients such as RAKBANK to provide their customers with even better services and do it at a go-to-market speed that was previously impossible.”

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Inpay acquires Eurogiro

Feb 21st, 2018

The leading postal payments network Eurogiro A/S, has joined forces with the licensed FinTech company Inpay A/S, which will bring continuity, innovation and exciting growth opportunities to all Eurogiro members.

Michel Stuijt, CEO of Eurogiro A/S, says: “Inpay has a great track record in offering cross-border payment services and solutions to financial institutions. I am very excited to bring these benefits to all our members and place them in pole position for the future developments in the financial industry.”

Jacob Tackmann Thomsen, CEO and Founder of Inpay A/S: “Eurogiro is a very strong strategic fit with our business in which we successfully serve financial institutions. Inpay is extremely committed to ensuring the continuity and growth of Eurogiro and to bringing innovative products and services to its members.”

Moving forward, Eurogiro will continue as an independent company with its distinctive postal identity and maintain its strong postal brand while evolving into a truly global non-exclusive open platform.

About Eurogiro

Eurogiro operates a global infrastructure that enables postal organisations, banks and other financial institutions to execute cross-border payments for their customers. Eurogiro, via its members, covers more than 55 countries on the main continents. Since its establishment in 1993 by 14 European postal organisations Eurogiro has provided a stable and reliable service.

About Inpay

Inpay is a regulated and licensed Danish FinTech company with 50 employees, specialising in the provision of white label cross-border payment services. Based on its unique payments infrastructure, Inpay delivers real-time cross border payments in 60+ countries as well as a suite of white-label solutions to financial institutions and large corporates.

For more information, please contact:

Eurogiro A/S
[email protected]

Inpay A/S
[email protected]

Inpay @ Sibos 2017

Oct 2nd, 2017

This year, Sibos, the world’s premier financial services event is held at the Metro Toronto Convention Centre between 16th and 19th October.
Inpay is sending a team of 10 experts including our CEO & Founder to represent the company at our stand B50.

Inpay’s unique global payments network delivers real-time cross-border transactions in 60+ countries and enables banks to fend off any FinTechs targeting their customers’ cross-border payments while the bank simultaneously improves efficiency, generate new revenue streams and increase their customers satisfaction.

To learn more about our SWIFT Alternative, our Collection Gateway and our four Bank Branded FinApps come meet Inpay’s expert team at B50 – next to the SWIFT stand.

Inpay, Empowering Banks.

Inpay is exhibiting at EBAday from the 20th -21st June, 2017.

May 19th, 2017

Inpay will be represented by five experts covering Inpay’s core capabilities: bespoke Collections & Disbursements.

For any questions regarding Inpay’s participation on EBAday, our experts, or our solutions please contact stand coordinator and Project Manager Mary-Therese Messerschmidt on [email protected].

We look forward to meeting you.

The Why/What/How of Microservices

May 25th, 2016

Our chief architect Jeppe Cramon presented the Why/What/How of Microservices at the local Danish Java Group. Read more at The Java Group.

The International Money Transfer Conference in Barcelona

May 19th, 2016

Our VP Global Partnerships, Banking & MTOs, Dame Damevski, participated in one the most interesting panel discussions at The International Money Transfer Conference in Barcelona: “The Rise of International Money Transfer & Payment Aggregators/Integrators: Is Wholesale/Retail, White Label/Branding an increasing reality in the industry? Is it a trend? Is this a result of technology, liquidity, regulation, investment?”.
More on the event

Inpay in Qatar & Oman

Apr 7th, 2016

After more than 3 years of work, we are happy to announce that our global infrastructure of local bank accounts, now covers both Qatar (the country with the highest GDP per capita in the world) and Oman (where foreign workers send an estimated US$30 billion annually to their home states). In both countries we can facilitate both collection and disbursement of funds.

Inpay Australia

Mar 22nd, 2016

Inpay is now fully incorporated in Australia and registered with AUSTRAC (Australian Transaction Reports And Analysis Centre).

Another victory for our APAC team in Malaysia

Jan 14th, 2016

We are happy to announce yet another victory for our APAC team: Malaysia! Our clients using our global payments infrastructure can now do both local disbursements and local collection of funds in Malaysia.

Inpay’s position on PSD2 and XS2A.

Oct 6th, 2015

PSD2 a revised legislation of the existing PSD1 dating 2009, regulating the payments affairs in the EU and EEA, is enabling new payments participants access customer bank information and customer payment initiation by enforcing incumbent banks to open their systems and customer information. Innovative third party providers (TPPs), in the likes of fintech, Big Tech, but also incumbents such as acquirers, processors, payment service providers and innovative banks, are seeking to capitalize on this opportunity that will be market enforced by the end of 2018.

Inpay has been represented in a leading industry group (OTA Open Transaction Alliance) from the outset of the PSD2 draft proposals in 2014, by which early in-depth technical and business understanding of the opportunities and threats has secured, and influenced and supported the group work.

The Open Transaction Alliance (OTA) is a cross-industry initiative of payment practitioners including banks, payment service providers, account information providers, payments processors, merchant and consumer groups, and other stakeholders in the European payments ecosystem. The OTA fully endorses the aim of the revised Payment Services Directive (PSD2) to foster innovation by allowing new innovative services to be developed by third parties (‘Access to account’. The OTA is convinced that this will lead to an explosion of new and creative payment services that will be of benefit to consumers, merchants, bank and non-bank service providers and the European digital economy as a whole. Inpay is uniquely positioned to capitalize on the early development and has specifically focused on the opportunities within the low value payments P2P segment and its possible role to provide instant collection and account information services to Banks, Money transfer companies and other payment participants.

Inpay is excited with the new opportunies that PSD2 and XS2A brings and are strategically perfectly positioned to make full use of the new opportunities to even better service its clients – especially Financial Institutions from outside EU.