PayTrip Introduces a Prepaid Payment Card

PayTrip Introduces a Prepaid Payment Card


  • PayTrip, the Orleans-based FinTech featuring an instant money transfer service, just launched a new prepaid card.
  • Goal: meet cross-border money transfer-related requirements and bring down delays from a few days to a few minutes.
  • Partners: This card was designed in partnership with Gem +; funds are guaranteed by Barclays. They also rely on a partnership with Prepaid Financial Services and Mastercard for issuing.
  • Targets: This offer is meant for all European residents of African descent sending money to their relatives, and for parents sending money to their children without opening a bank account.
  • Business Model: PayTrip service relies on a monthly subscription
    • From €3.49/month for one account and a payment card
    • €6.49/month for one customer
    • €8.49/month for two customers
    • €10.90/month for three customers
  • How it works:
    • The PayTrip account holder must load the account upon subscribing (€100 minimum), via bank or card-based transfer
    • He may then reload up to four payment cards
    • A PIN code is enough to activate one of the cards
  • This Deep Learning, AI-enhanced solution by PayTrip easily recognises the required supporting documents, including the customer’s picture –which can be taken from his mobile phone. The user will only need 5 minutes to send over the required documents and open an account.


  • Reshuffling the game. Europe-African money transfers usually take up several days to proceed and exchange rates often bring about hidden fees. PayTrip claims they want to change this: cut down delays and improve transparency when it comes to pricing scales for customers.
  • Automating the account verification phase to implement a near-instant account opening process.
  • A promising market. The France-Africa P2P money transfer market is assessed to be worth from €7 billion to €10 billion each year. PayTrip intends to take advantage of the opportunities this segment entails. They also target other European residents, as their offer is available EU-wide.


  • PayTrip was incubated by the Village by CA for Lab’O in Orléans and by the HEC Challenge+ programme. They raised €1 million one month ago from Crédit Agricole, BNP Paribas and Bpifrance.
  • A second funding round is also considered. This investment should help them boost their offer and face up to competition from FinTechs in the cross-border money transfer industry. In France, Ditto Bank already features a mobile app for expats.

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