The rebranding of business as ‘ecoPayz’ will enable the group to distinguish its services and brands, which have deep rooted its identities among the users, as reported by Finextra.

ecoPayz has rolled out two new brands, including Merchant Account and Business Account, which will leverage its ecoAccount and ecoCard products.

The company said that retailers and merchants can send and receive the fund using ecoPayz Merchant Account, while employers using the ecoPayz Business Account can pay individuals and employees in 44 currencies across 173 nations.

ecoPayz managing director Phil Davies was quoted by Finextra as saying, " Over the last few years we have significantly grown and extended our range of payment solutions to incorporate a range of virtual payment mechanisms, not just physical cards, so the name EcoCard just didn’t fit anymore."

"Launching ecoPayz as our new group brand enables us to offer a flexible and responsive approach to merchants by offering them the best solutions to meet their needs."

ecoPayz brand portfolio consists of ecoAccount, ecoCard, ecoVirtualcard, ecoBusiness Account and the ecoMerchant Account.