Embedded Banking provider Weavr has announced its integration with B4B Payments to boost its EU-based offering, including local IBANs (The Paypers).
This announcement is the next step for Weavr to transition towards leveraging its own e-money license, which the company announced in July 2024. So far, Weavr offers an Embedded Banking offering where Weavr provides the APIs and certain infrastructure, but the licence and adjacent parts of the value chain come from regulated partners (e.g., Paynetics). Thanks to the e-money license from Malta, Weavr can now contract directly with safeguarding accounts providers and other infrastructure providers.
Weavr is likely leveraging B4B Payments for its BIN sponsorship product for card issuing. Since B4B Payments is part of Banking Circle, Weavr will probably access local IBANs through them. The benefit is that several local IBANs can be leveraged without the need to open local branches. However, customers will see that the IBANs ”belong” to Banking Circle and not Weavr directly.
