By tapping directly into UK payment rails (Faster Payments, BACS, CHAPS) via ClearBank’s API integration, PingPong can settle transactions in near real time and offer lower fees and richer remittance data to its enterprise clients.
PingPong Payments, a fast-growing specialist in embedded cross-border payments for enterprises, financial institutions and SaaS platforms, has partnered with ClearBank, the UK first cloud-native clearing bank, renowned for real-time clearing and API-driven embedded banking.
Under the agreement, PingPong will integrate ClearBank’s local agency banking service to enrich its UK offering suite with virtual business accounts, GBP collections, and Confirmation of Payee (CoP) checks. ClearBank’s fully managed, cloud-based infrastructure will enable PingPong to issue accounts and IBANs in its own branding, while providing near-instant access to Faster Payments, BACS, and CHAPS systems, eliminating the need for intermediaries and speeding up settlement.
This collaboration not only strengthens PingPong’s mission to simplify global commerce through efficient, secure, and cost-effective payments but also opens the door to European growth via ClearBank’s passported banking licence. As many fintechs look to bolster their local payment capabilities, PingPong’s choice of ClearBank underscores its status as a go-to partner for firms expanding in the UK and beyond.
Alex Young, FI Partnerships Lead at PingPong, noted that direct scheme access delivers richer data, smoother system interoperability, and tighter control over transaction flows for their enterprise clients, while ClearBank’s scalable platform will serve as PingPong’s gateway into new European markets.
Mark Fairless, CEO of ClearBank, added that PingPong’s vote of confidence in ClearBank’s API-first agency banking solution reflects the bank’s commitment to reliability, security, and innovative digital services. He also anticipates further growth of this collaboration across international payment corridors.
