Online media group Hi-Media has invested more than 3 million euros to set up its own bank, HBME.
The bank will offer merchants looking to use Hi-Media’s Hipay online micro-payments system better terms than other providers who need to deal through third party financial institutions.
Based in Belgium, HBME is not only able to offer merchants better rates but also a simpler service which operates like a normal bank account, accepting payments from all major cards across the EU.
The Hipay system also benefits consumers who are able to pay for goods also with their local currency at no extra cost.
Ben Humphry head of payments at Hi-Media said, “Setting up our own bank allows us to operate a truly multi-national online payments service, helping the publishers we work with in the UK and around the world.”
http://www.hi-media.com/?lang=en