B4B Payments
“Can a card-issuing specialist become the BaaS layer for fintech scaleups expanding across UK, EU and US under Banking Circle's correspondent-banking umbrella?”
Founded2006
HQLondon, United Kingdom
FoundersPaul Swinton
Latest roundAcquired by Banking Circle Group
IndustryInfrastructure / BaaS
The story
Founded in 2006 as a prepaid Mastercard card issuer in the UK, B4B Payments expanded into the US (via Cross River Bank partnership) and EU (via Lithuanian EMI). The company evolved from a card-issuing specialist into a full BaaS provider offering BIN sponsorship, multi-currency accounts, FX, and card programs. In 2024 it was acquired by Banking Circle Group, positioning B4B as the embedded card-issuing and accounts arm of a wider correspondent-banking infrastructure play.
Product timeline
2006
Founded by Paul Swinton as a prepaid card and payment solutions provider· founding
2019
Expanded into US market via B4B Payments (USA) Inc, partnered with Cross River Bank· banking
2020
Established UAB B4B Payments Europe under Lithuanian EMI licence· regulatory
2024
Acquired by Banking Circle Group; Paul Swinton transitioned from CEO to executive chair· acquisition
2026
Paul Swinton stepped down from executive chair role to board director· leadership
Regulated entities
4
regulatory licences held by B4B Payments
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
7 layers disclosed in B4B Payments’s embedded-finance stack
Payments / PSP
B4B Payments (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Ledger
in the full report
Payroll
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting gap: significant
7 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.