Learn how this payments gateway made improvements to its disbursement and fund segregation processes.
Cardstream offers white label payments services that power transactions for customers in Europe, the USA and Asia. Cardstream needed a solution that made both collection and reconciliation easier, and enabled easier pay out.
Cardstream selected Modulr to help with its requirements. Modulr’s unique suite of payments APIs deliver enhanced control and flexibility to Cardstream.
Modulr is supporting Cardstream’s collection and reconciliation requirements by streamlining and improving its existing process. Previously, Cardstream had a single account for ISOs (Independent Sales Organisations) to pay into. This made it difficult for Cardstream to reconcile payments to merchants, and caused a lot of lag in the process. With Modulr’s help, Cardstream can now set up an individual account for each merchant, which saves a significant amount of time for ISOs.
Implementing Modulr’s APIs has brought clarity and ease to Cardstream’s existing processes. It also means that the business can grow and scale up without the limitations it experienced previously.
In addition to this, Modulr is improving Cardstream’s pay out processes. Modulr’s Faster Payments Service mean that suppliers and merchants now receive payments in a fraction of the time it used to take. Modulr is enabling better payment flow and providing better visibility over high volumes of payments.
Already renowned for its simple, scalable and secure solutions, Cardstream will use Modulr’s APIs to enhance its services. It joins a growing list of clients who have adopted solutions which are transforming the way high-volume payments systems can be managed.
What Cardstream thinks
Adam Sharpe, Cardstream’s CEO, remarked: “We have seen some terrific improvements at Cardstream thanks to Modulr and its innovative payment APIs. Cardstream is already benefitting from having more visibility and greater control. Feedback about our improved processes has been extremely positive, and the team has noticed how much time we now save since automating our existing payment processes.”
Modulr is backed by Blenheim Chalcot, the UK’s leading venture builder. Founded in 1998, Blenheim Chalcot specialises in building digital businesses that transform industries. It’s portfolio of companies has sales of over £300m, more than 3,000 employees, and a successful track record of building over 40 companies across IT services and outsourcing, education, financial services, software, sport and media.
Modulr Finance Limited, a company registered in England with company number 09897957 and ICO Registration: ZA183068, is registered with the Financial Conduct Authority as an EMD Agent of Modulr FS Limited. Modulr FS Limited is Authorised and Regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573). You can check the Financial Services Register here.