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Payments General

LEMON WAY starts its UK expansion with Barclays corporate banking

Tuesday 2 October 2018 | 10:57 AM CET

Barclays will also be supporting LEMON WAY as it looks at further opportunities in several key continental European countries.

The new agreement with Barclays Non-Bank Financial Institution (NBFI) division, provides LEMON WAY with a number of key resources such as electronic banking, operating accounts, client money accounts, SWIFT-Net access, faster payments, and also Barclaycard online payments, to serve the needs of websites based in the UK.

In its first years, LEMON WAY will be located in the Barclays Rise London offices and will take part in the community of selected fintech companies hosted in the incubator. Barclays has also agreed to support LEMON WAY on a plan to serve some key continental Europe markets, such as Spain, Italy or Germany, where both organisations have active customer relationships.

LEMON WAY is a pan-European payment institution regulated by the ACPR – Banque de France. The company is dedicated to crowdfunding platforms, e-commerce marketplaces and other companies looking for payment processing, wallet management and third-party payment in a KYC/AML-regulated framework. The French fintech was created in 2017 and obtained its payment institution license at the end of 2012 and benefits from the” EU financial passport” in 28 countries.

LEMON WAY has recently raised a EUR 10 million funding round led by Breega Capital, with the participation of Speedinvest, a fintech venture capital fund (this transaction is currently being approved by the French regulator – ACPR). This funding will enable LEMON WAY to continue its expansion in Europe, particularly in Germany and the UK, and to consolidate its strongholds in France, Spain and Italy.

LEMON WAY facilitates PSD2 regulated payments for digital platforms. Since its launch in December 2012, the company has opened 5 million payment accounts (also called e-wallets) to end-users and has registered 95 platforms as LEMON WAY payment agents with the ACPR.

Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US. With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 85,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

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