Moorwand to launch multi-currency Tap card

Moorwand announced plans to introduce a multi-currency Tap card that allows customers to hold multiple currency balances and pay contactlessly in local currencies without opening separate physical accounts for each currency. The card will support tap-to-pay at terminals and online payments using tokenised card details.

The Tap card will be linked to Moorwand’s digital wallet and mobile app so users can switch between currency balances and manage payments in real time. The firm intends to offer both physical and virtual versions to enable contactless in-person transactions and digital wallet integration for online and mobile purchases.

Moorwand plans to roll out the product where it holds regulatory permission, with an initial focus on the United Kingdom and European markets. The card is expected to be available to individual consumers and business customers that use Moorwand’s payment and card-issuing services. Exact launch dates, pricing and the full list of supported currencies were not disclosed at the announcement.

Security features described by Moorwand include EMV chip protection and mobile tokenisation for digital wallets. Moorwand will work with card scheme members and sponsor banks to issue the Tap card and to process transactions through its existing infrastructure.

The firm said the Tap card can be integrated into client platforms via APIs, enabling fintechs and other third parties to offer the multi-currency capability to their users. The product will sit alongside Moorwand’s existing issuer, processing and payment gateway services.

Moorwand is a payments and electronic money company that supplies card-issuing, processing and gateway services to fintechs and financial institutions, including white-label card and account solutions issued through sponsor banks.