Moorwand, a BIN sponsor and issuer that transforms compliance into an enabler of innovation, has partnered with Payme Swiss, a provider of unique payments solutions, and Bourgeois Bohème, a specialist partner for high-net-worth clients offering qualified concierge and financial service with a human touch to bring luxury payment products to market. Through access to Moorwand’s issuing services, Payme Swiss is providing virtual and physical cards linked to wearable payments products to Bourgeois Bohème, who will be using it to develop luxury items and services geared to affluent European consumers.
The number of high-net-worth individuals (HNWI) and ultra-high-net-worth individuals (UHNWI) grew by 6% last year, to 513,244 (Knight Frank, 2020). Fintechs are increasingly looking to target the growing niche to offer high-end financial services.
Moorwand’s solutions allow for multi-currency support and ensure necessary payments legislation and regulation is followed. Its issuing and digital banking services let Payme Swiss and Bourgeois Bohème launch these payment services with full compliance, quickly and efficiently with access to Mastercard payment rails.
“HNWI and UHNWI have high expectations from fintech and payment solutions. To deliver these specialised products, we needed partners who could supercharge our product development,” said Hugo Gomez, CEO at Bourgeois Bohème. “By working with Moorwand and Payme Swiss, we combine the power of cutting-edge technology to create unique and personalized products that these audiences want.”
“Payme Swiss and Bourgeois Bohème have identified a gap in the market for services and products targeted at affluent, HNWI, and UHNWI individuals. We’re excited to help them take this vision to market and we look forward to a long-lasting partnership” said Luc Gueriane, Chief Commercial Officer at Moorwand.