Branded payments provider Blackhawk Network has teamed up with open finance data and intelligence platform Moneyhub to ensure compliance with open banking standards. Via the partnership, Blackhawk Network will be able to validate third-party providers, connect to them through live applications, and enable them, with user consent, to access user data and initiate payments.
“Using Moneyhub’s compliance solution means that we can adopt the industry best-practice approach to PSD2 in authorizing our unique prepaid card offering,” Stacey Richards, who handles Product Management for Blackhawk Network, explained. “We share the fundamental desire to deliver a transformative experience for the end-user with Moneyhub, and we look forward to working with the team to deliver on our ambitious vision for the future.”
Blackhawk Network helps businesses leverage branded payments to reach more customers, build engagement and loyalty, and increase revenue. A Finovate alum since 2012, the company has more than 3,000 workers around the world, and serves 26 countries with its branded payment solutions. Blackhawk features 1,000+ brands in categories ranging from dining and entertainment to retail and home improvement. The Pleasanton, California-based company went public in 2013, and was acquired by Silver Lake and P2 Capital Partners in 2018 in a deal valued at $3.5 billion.
More recently, Blackhawk acquired Edge Loyalty Systems, an Australian sales promotions and loyalty firm, for $23 million (A$32.2 million). This spring, the company purchased SVM Cards for an undisclosed sum.
Moneyhub’s partnership with Blackhawk is the company’s third collaboration this year. In June, Moneyhub teamed up with Lumio, a money management app. The following month, the company partnered with investment performance analytics firm, ARQ.
“Our Open Banking expertise means that we are able to deliver a comprehensive compliance solution to Blackhawk Network, ensuring that it remains a leader in the market and delivers excellence to current and future clients,” Moneyhub CTO Dave Tonge said. “Our growing product offering and the multi-use nature of our proposition means that we are able to work alongside Blackhawk Network and help support their growth and aspirations.”
Founded in 2011 and based in Bristol, U.K., Moneyhub made its Finovate debut at our European conference in 2015. Nationwide Building Society is the company’s primary investor, having led a corporate round for Moneyhub in the fall of 2018.