Does this mean that Ivobank is moving to offer broader corporate banking services to merchants?
TS: Yes, within reason. Ivobank is a payments bank – we will help businesses facilitate payments for both them and their customers. We will not be moving into trade finance or a wide range of other corporate banking services. As such, we will always be the secondstring bank where the merchant has a relationship with a main bank, whether a NatWest or Barclays, but the merchant can choose to put all their payments business through us as we are quicker, cheaper and easier. CI: As the first bank that is positioning its product very much as an e-wallet, you have the unique advantage of offering interest on funds held. Do you believe this throws down a benchmark against the other e-wallets in the market, such as PayPal, NET eller, Moneybookers and others? TS: Merchants and customers are demanding more, and as you point out we have the full bank regulation behind us. This has a wide range of advantages – apart from interest-bearing accounts it also means we can offer more cost-effective servi
