June 09, 2021 - Equiti has introduced the industry’s first fully integrated prepaid Mastercard and prepaid card mobile app linked to traders’ trading accounts, in a move which the company says is in response to trader requests for seamless access to funding,

In partnership with Gate to Pay, the card issuer, traders can now conveniently transfer funds to their trading accounts with no fees, top up their card balances, and monitor their transactions on their mobile phones. The card also offers the normal Mastercard benefits and can be used for regular daily transactions such as withdrawal of funds at ATMs, online and point-of-sale purchases, or even international payments. The application process is simple and quick, and can be accessed in just a few clicks on the client portal.

Gareth Bateman, Global Head of Payments for Equiti, commented, “We are delighted to have developed such an intuitive payment tool which makes it easy for traders to transfer funds to and from their accounts. At Equiti, we are constantly applying ourselves to assure the payment experience is as seamless and secure as possible.

“With the complexities of e-commerce payments and our understanding of local payment solutions on a global scale, we believe the Equiti prepaid Mastercard card will widely appeal to traders to facilitate the ease of trading.”

Before the official launch of the Equiti prepaid Mastercard card and app, traders were informed of the offering and the demand showed a roughly 250% higher uptake rate than originally planned.

Mohamed Alahmad, managing director for the Middle East region at Equiti, said: “Our clients are always at the heart of our business. We take our traders feedback and requests seriously and use it to develop innovative offerings and solutions to deliver a superior trading experience.

“Equiti aims to make our client’s experience a global market disruptor so we are thrilled to introduce this first of its kind payment solution to Equiti’s offering.

“The Equiti prepaid Mastercard is another step toward achieving our mission to be at the forefront of innovation in the fintech sector.”

Commenting on the partnership with Equiti, Yazan Hamdan, Head of Business at Gate to Pay said: “We are extremely honoured about our partnership with Equiti and for the opportunity to elevate their offerings and customer experience with our solutions.

“Through our BaaS (Banking as a Service) offerings, we aim to enable partners to offer digital banking products and solutions for their clients. Equiti is a fast-growing, innovative, market leader, adapting to the latest trends and sets a clear example for the industry.”

Equiti also stated that it is in the advanced stages of other innovative payment solutions that will be launched in Q3 2021.