W2, leading provider of regulatory compliance services, has today announced a partnership with Scottish fintech Miconex, who provide places with a tangible means to retain spend in their local area through their Town & City Gift Card programmes. Active in over 70 places in the UK and Ireland, Town & City Gift Card programmes drive footfall into town and city centres, and encourage the discovery of new local businesses.
Miconex will be using W2’s award winning Know Your Customer (KYC) and Anti-Money Laundering (AML), specifically PEPs, sanctions, and adverse media checks for any big corporate purchases over a certain monetary value. The flexibility of W2’s single API integration means that checks will only need to be performed when a certain value is triggered when purchasing a gift card.
Warren Russell, CEO & Founder at W2 commented “Another great partnership win for W2 to celebrate. Many businesses had to close their doors for extended periods during the pandemic, and the effect on them has been huge. We are big advocates of supporting local businesses, so to be partnered in with Miconex, who are leading the reinvention of high streets around the country, is something we are delighted to be contributing to.”
Colin Munro, Managing Director at Miconex said: “We are pleased to be working alongside W2 as we continue to develop our award winning Town & City Gift Card programme for town and cities, helping places to make local shopping easy and attractive. Increasingly, corporate businesses are looking to make a demonstrable investment in their local area by choosing local gift cards as rewards and incentives, keeping money locked into the area and contributing to the vibrancy and economic recovery of the town or city. Our partnership with W2 will further refine and streamline our process for corporate sales.”
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