Card scheme program manager SetldPay has announced that it selected Tribe Payments as its issuer processor provider, while also benefiting from its Risk Monitor and 3D Secure solutions. In a bid to further improve and advance its operations, SetldPay chose Tribe to provide its issuer processing solutions, as well as its Risk Monitor and 3D Secure services.

The decision to partner can be attributed to Tribe’s technological capabilities and past dealings with the company’s team. In addition, SetldPay considered the market demand for a program manager who can facilitate the delivery of payment programs to the industry. Officials from the firm underlined that SetldPay developed its technology in collaboration with partners like Tribe to deliver optimised services while also focusing on offering a customer-centric experience, program development, and a continuous improvement of tech and services. Moreover, since the start of its operations in 2023, SetldPay, which currently provides its solutions across Europe, has been concentrating its efforts on Open Loop and Private Label Card Programs.

The company delivers solutions for prepaid card programs, including gift cards, fuel cards, travel and foreign exchange, B2B, and commercial cards. Also, SetldPay collaborates with card schemes Visa and Mastercard and two issuers to ensure a range of expertise and choice in product, compliance, and geography. How will Tribe support SetldPay? Besides benefiting from issuer processing, the partnership with Tribe is set to enable SetldPay to leverage the company’s Risk Monitor platform, which allows real-time assessment of card transactions against a suite of predetermined conditions, as well as global sanctions, Politically Exposed Person (PEP), and Adverse Media databases.

By utilising the platform, SetldPay can guarantee oversight and confidence in offering protection to its customers, whilst meeting Anti Money Laundering (AML) requirements for EMI licence holders. Furthermore, Tribe intends to also provide its 3D Secure Solution (3DS) to SetldPay, which delivers a simplified authentication process to banks, fintech firms, and acquirers.  The solution works towards optimising risk management and fraud prevention for businesses that offer online payment services. .