ClearBank Powers PhotonPay's UK Payment Rail Expansion

ClearBank and PhotonPay have entered into a collaboration that extends PhotonPay’s access to UK domestic payment infrastructure. Following this arrangement, PhotonPay will use ClearBank’s API-driven banking platform to provide named virtual accounts alongside access to Faster Payments, BACS and CHAPS. The setup also enables Confirmation of Payee functionality, supporting payer verification for GBP transactions. These services are intended to support UK-based collections and payouts while offering real-time settlement capabilities. Access to UK payment systems through ClearBank By relying on ClearBank’s clearing and settlement infrastructure, PhotonPay can connect indirectly to the UK’s main payment rails without holding a UK banking licence itself. According to representatives from PhotonPay, this approach is designed to minimise settlement times and support compliance requirements while integrating local payment options into its existing international platform. ClearBank officials indicated that the collaboration allows PhotonPay to extend its services using the bank’s real-time clearing capabilities. They noted that indirect access to UK payment systems can support payment localisation strategies for non-UK firms seeking to operate in the market. PhotonPay was founded in 2015 and provides payment and financial infrastructure services to businesses operating across multiple jurisdictions. Its product offering includes virtual accounts, card issuing and domestic and cross-border payments. The company operates through a network of international offices and supports business customers in a large number of countries and regions. ClearBank operates as a UK clearing bank with its own banking licence and focuses on providing embedded banking and real-time payment services to financial institutions and fintech companies. Its platform enables partners to offer payment processing and account services without building banking infrastructure in-house. Both companies suggested that the collaboration could support PhotonPay’s general European expansion plans by establishing local payment connectivity in the UK, which is often used as a base for regional operations.