GBPay LLC processing company, along with several banks owned by GBPay LLC, forms the functional core of GBPay International Payment System.
GBPay LLC is the exclusive titleholder of GBPay™ trademark. It also holds exclusive title to issue and acquire branded plastic cards in the GBPay payment system: GBPay Black Priority Pass multicurrency card, ruble cards and cards in other national currencies.
Banks operating within the GBPay International Payment System issue cards and provide full range of acquiring services for GBPay Black Priority Pass branded plastic cards.
GBPay LLC also executes Licensing Agreements with partner banks to issue and acquire GBPay plastic cards.
Issuing partner banks are banks that issue and manage GBPay plastic cards: multicurrency card, ruble card and cards in other national currencies.
Acquiring partner banks set up plastic card service points (POS terminals, ATMs) and provide the full range of financial services required to effect transfers and payments using GBPay cards at the service points.
As per the contract terms, partner banks can act as issuing partners or acquiring partners for GBPay plastic cards, or perform both functions at the same time.
Financial transactions are secured by SPC GBP (Security of Payments on Cards by Geo Block Payments System) – a unique system that consists of ten communication lines with end-to-end encryption.