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MASTERCARD

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MasterCard : Sunrate inks deal with Moorwand for card issuing services; FX and global payments provider is Moorwand's first end-to-end issuing customer

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11/14/2019 | 06:52am EST

London - Moorwand, a dedicated BIN sponsor that turns compliance into a competitive advantage, today announced that it is providing BIN sponsorship and card issuing services to Sunrate Partners Limited, a world-class foreign exchange and global payments provider.

Moorwand is providing Sunrate with a card programme which launched today. In addition, Moorwand is also acting as a BIN Sponsor, providing Sunrate with access to the Mastercard scheme for card processing, along with legal and regulatory guidance to achieve compliance in the best time possible.

While Moorwand has been involved in a number of issuing migrations, Sunrate is the first card programme it has implemented from conception to launch. The company is seeing strong growth from businesses looking to develop new card and wallet programmes, as well retailers following the debut of its European acquiring service for online merchants.

"We are very pleased to partner up with Moorwand," said Paul Meng, Co-Founder at Sunrate Solutions Limited. "Together with Sunrate's well established client base, we expect to see great growth post product launch which will take both Sunrate and Moowand's global footprint to a whole new level."

"Moorwand's legal and technical expertise makes it uniquely placed to identify developments before they appear, understand the impact of regulations before they are enforced, and anticipate the next waves of innovation before they break," said Robert Courtneidge CEO of Moorwand. "This means that Moorwand can help fintechs like Sunrate rapidly orchestrate best-in-class payment propositions designed to capitalise on emergent market changes, whilst ensuring compliance. We expect the service to grow rapidly into a truly world-beating programme."

"As our first end-to-end issuing customer, launching a card programme for Sunrate is major milestone for Moorwand as we continue our mission to help our clients turn compliance into competitive advantage."

-Ends-

About Sunrate

Sunrate is a fintech company established by ex-investment bankers and corporate treasurers, who deeply understand difficulties that businesses face during global expansion. Built on top of fully API modularized platform and world-class compliance infrastructure, Sunrate offers payment, collection and card products with embedded foreign exchange risk management solutions.

For more information about Sunrate, visit here: https://www.sunrate.com/en/index.html

About Moorwand

Moorwand is a dedicated BIN sponsor, issuer and acquirer that turns compliance into competitive advantage for its clients. Led by payments pioneer Robert Courtneidge, and trusted by incumbents and innovators alike, provides Electronic Money Services and access to VISA, Mastercard, JCB and UnionPay card schemes to payment providers.

Unlike other BIN sponsors, Moorwand rapidly orchestrates agile and dynamic programmes designed to reduce payment friction whilst ensuring compliance.

For more information about Moorwand, visit here: https://www.moorwand.com/

Press Contacts

CCgroup

Joshua Cobb/ Wilfred Collins

0203 824 9200

Moorwand@ccgrouppr.com

Source: RealWire

.

(C) 2019 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2019 16 867 M
EBIT 2019 9 651 M
Net income 2019 7 888 M
Debt 2019 136 M
Yield 2019 0,43%
P/E ratio 2019 37,8x
P/E ratio 2020 32,3x
EV / Sales2019 17,5x
EV / Sales2020 15,2x
Capitalization 295 B
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Average target price 312,43  $
Last Close Price 292,21  $
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