The acquisition of BW Pay brings direct e-Money licensure, a history of good standing with the Financial Conduct Authority, and principle Mastercard membership. The BW Pay team, led by Managing Director, Chris Jacklin, adds many years of payment industry experience to the enlarged group. The acquisition of BW Pay Limited finalizes vertical integration for AU Card Limited creating a complete lifestyle and payment eco-system.
Christopher Scanlon, CEO and President of AU Card Limited, said: "Acquiring BW Pay expands our value proposition to each of our lifestyle members. Our goal has always been and will continue to be one of simplifying the lives of our members, whether through our premium concierge services or through the innovative on-shore as well as cross-border payment solutions we offer.
"We began with Aurae, the world's only bespoke Solid Gold Mastercard, and through a combination of visionary zeal and client feedback, we have rapidly expanded our services to provide a unique and comprehensive program that delivers a host of solutions to an exclusive clientele. BW Pay completes that vision and together, we will create greater access to innovative financial solutions globally."
BW Pay will provide regulatory oversight, direction and operational guidance to AU Card Limited and will allow AU Card Limited to issue directly to its millions of lifestyle management members in over 110 countries globally.
"We listened to our Aurae Lifestyle Members, many of whom own businesses that span multiple countries, and they wanted to offer smaller scale concierge benefits and frictionless cross-border payment solutions to their clients, affiliates, and partners. The BW Pay acquisition enhances the white label concierge, lifestyle membership, and payments programs that we currently provide for our corporate clients," added Mr. Scanlon.
