Moorwand has been selected by OneFor, a digital wallet and money transfer and payments solution for the remittance market.
OneFor allows consumers in EU to send funds to individuals inside and outside of the EU through a digital wallet and debit card offering. Customers in the EU gain access to a mobile wallet app connected to an IBAN account and companion debit card. Customers (as the primary account owner) can easily setup, provide and manage companion cards for friends and family members outside of the EU using the app.
By utilising a range Moorwand’s services, OneFor dramatically reduced the time and complexity of launching the service. Moorwand is issuing the debit card, acting as BIN Sponsor to access Mastercard network, and providing acquiring services so the card to be easily topped up using a range of payment methods.
Moorwand’s Digital Banking offering allows OneFor customers to send money using SEPA.
Moorwand is providing issuing, acquiring and digital banking services that powers OneFor’s offering which aims to improve the simplicity, accessibility, and affordability of remittances for consumers.
“Despite the rapid rise of digital banking innovations, diaspora communities are still largely underserved by fintech products,” said Marco Abele, Co-CEO at OneFor. “OneFor’s card and app help to bridge the gap for these often-unbanked communities by offering them a simple, accessible and affordable way to send money and connect with their friends and family overseas. With support from Moorwand, we have been able to rapidly develop and launch a pioneering service that meets the specific needs of diaspora communities.”
“Moorwand mission is to help the most innovative fintech companies deliver a more diverse and competitive set of products to consumers and businesses,” said Luc Gueriane, Chief Commercial Officer at Moorwand. “OneFor’s offering is massive step towards democratising remittance services and makes it easier to provide access for unbanked nationals. Through our expertise and suite of issuing, acquiring and digital banking services, we’ve helped OneFor launch this service ahead of the competition.”
