The partnership will enable the company, headquartered in Lithuania, to scale its mission of levelling-up access to the global payments landscape. SH Financial will have control over the infrastructure and provide access to Visa-backed products and services. This includes access for fintechs and challenger banks to a fast, simple & integrated way of delivering physical & virtual card programs for their customers through BIN sponsorship.
SH Financial’s first active card program has been confirmed for a global crypto-exchange client. It will launch across Europe in Q1 2023, unlocking access to Visa card products for up to 2+ million consumers across the continent. SH Financial also holds an Electronic Money License (EMI) from Lithuania’s Central Bank and works with market-leading providers to ensure the integrity and transparency of its security systems.
Mohit Davar, Co-founder of Stanhope Group said of the partnership:
“Visa is the ideal partner to support our ambitious plans and is not only offering us scalable products now but also has a strong vision for the future. Visa’s team of industry experts bring a wealth of experience, their dynamic product team means that Visa leads the way in terms of card product innovation. Working together, we will deliver best-in-class products for customers across Europe.”
“I am glad to see Stanhope Financial joining Visa as a new principal member, allowing them to provide their services to the European market. As Stanhope Financial becomes a BIN sponsor, they will support the growth of Visa’s payment ecosystem by helping fintech’s on their payments, issuance, and digitalization journeys. It’s great to see the team’s commitment and speed throughout the onboarding process and I look forward to launching a joint card program in 2023,” says Philip Konopik, Regional Managing Director Visa Nordics and Baltics.
About Stanhope Group:
Founded by Mohit Davar & Kevin von Neuschatz, Stanhope Financial Group has 3 business lines & began operations in October 2021.
SH Financial (SH Financial UAB) is licensed as an Electronic Money Institute (EMI 87) & offers banking services to SMEs, regulated institutions, & virtual asset service providers. SH Financial enables them to efficiently send & receive money across the globe, including spot FX, multi-currency accounts, dedicated named bank accounts & innovative payment solutions.
SH Capital holds a Category 3A license issued by the DFSA is located in the DIFC, Dubai. SH Capital enables private individuals, institutions & family offices to gain access to premium global investment products across all capital markets.
Stanhope Group’s affiliate company, SH Digital holds a Virtual Asset Service Provider (VASP) registration in Lithuania & license in Dubai (DMCC). SH Digital offers cryptocurrency liquidity & trading services.