SetldPay partners with Tribe for Issuer Processing

Tribe Payments chosen as payments processing partner by card scheme program manager SetldPay.

We are delighted to announce that Tribe Payments has been chosen by SetldPay to provide their issuer processing, with the company also benefitting from Tribe’s Risk Monitor and 3D Secure solutions.

Founded in 2023 by David Shewmaker, Stuart Green & Rebecca Ramaglia, SetldPay is a comprehensive technology-first Card Scheme Program Manager operating across Europe and specialising in Open Loop and Private Label Card Programs. It brings together best in class partners through one technical connection and one contract.

SetldPay provides solutions for any kind of prepaid card program including gift cards, fuel cards, travel & FX, B2B and commercial cards.

Headquartered in London, SetldPay works with both major card schemes Visa & Mastercard and two issuers, to ensure a broad range of expertise and choice in product, compliance/legals and geography.  A key USP for SetldPay is their automated funds flow that allows just-in-time funding to minimise pre-funding requirements and massively simplify reconciliation.

Why Tribe? “From the research we did, it was the most technologically advanced solution in the market, said Co-Founder and CEO Stuart Green. “Plus, there is a great deal of pre-existing trust with the team at Tribe from past dealings with them.”

Green adds: “We were repeatedly told by issuers, processors and schemes in the payment space that the market is crying out for a good Program Manager to facilitate bringing Payment Programs to fruition. So we’ve built what we believe is best in class technology with partners like Tribe to enable that but we’re taking it to a whole new level of automation, so that we can concentrate on the important things like customer satisfaction, program development and a constant improvement of tech and service.”

"From the research we did, Tribe was the most technologically advanced solution in the market."

Green is part of a heavyweight team behind SetldPay; his co-founder Shewmaker was part of the early team at Euronet Worldwide and helped drive their rapid expansion for 10 years, before the pair established StoreFinancial Europe, the biggest shopping centre gift card provider in the world, which was later acquired by EML. Chief Operating Officer Ramaglia also spent over a decade at EML, and worked closely with Shewmaker and Green playing a key role in the expansion of the business into 15 countries in Europe.

In addition to issuer processing, SetldPay will also benefit from Tribe’s proprietary Risk Monitor platform, which allows for real-time assessment of card transactions against an array of pre-defined conditions, along with the real-time assessment against global sanctions, PEP and Adverse Media databases. This will allow SetldPay to ensure they have oversight and confidence in providing protection to their customers and meeting AML requirements for EMI license holders.

SetldPay will also benefit from Tribe’s in-house 3D Secure Solution (3DS), which provides a seamless authentication service for banks, fintechs and acquirers. 3DS has become an essential part of risk management and fraud prevention for any business that takes online payments.

Alex Reddish, Tribe Payments MD, commented: “I was really excited to hear that Stuart was ‘getting the band back together’ to form SetldPay, bringing their vast expertise to launch the tech-driven Program Manager, and I am absolutely delighted that Tribe is working with them. It is a partnership that promises to be especially fruitful in the European market in the coming months and years.

Jo Lawrence, Head of Customer Success at Tribe, echoed these sentiments: “We’re thrilled to be working with SetldPay. Their knowledge of the regulatory landscape, which minimises their customers’ time to market, goes hand-in-hand with Tribe’s own quick-to-market mantra. Plus, as Head of Customer Success at Tribe, it gives me great pleasure to know that SetldPay has also been founded with the motivation of maintaining great customer relationships.”