QNTMPAY, the official digital banking partner of McLaren F1, works with a global embedded finance platform Rail bench to support upcoming UK product launches and services. The companies announced this at today’s Money20/20 event.
Railsbank supports the launch of QNTMPAY in the UK with plans for rapid expansion into Europe and Asia. QNTMPAY’s goal is to tap into the fan economy, which is estimated to be worth an estimated £ 8.5 billion annually in the UK.
QNTMPAY’s partnership with McLaren is designed to enhance the Formula 1 fan experience, offering fans new and relevant rewards and experiences to increase engagement and loyalty. McLaren Mastercard branded debit cards will also be introduced in the next phase of the partnership. CEO of Railsbank Nigel Verdon will join the QNTMPAY founder Adam Pearsall and McLaren Automotives CMO Gareth Dunsmore on the main stage on September 23rd at Money2020.
The association with McLaren is the latest example of the growing trend in the sports and entertainment industry to expand its reach through partnerships with financial services companies.
“Consumer brands are under increasing pressure to keep the digital grip of their customers or fans,” said Verdon. “Brands need to tap into untapped opportunities that can offer relevant experiences in order to increase their brand value. Embedding financial experience into existing offerings is an attractive way for brands looking to increase their regular engagement and sales. Railsbank supports future-oriented brands like QNTMPAY in developing these new financial use cases that they have always envisioned at a previously unimaginable pace. “
“London is the fintech capital of the world, so we’re excited to be launching ahead of everyone else in the UK,” added Pearsall. “Railsbank will support us as a partner in opening up new opportunities. We choose to only work with companies that share our vision of a new way of doing banking based on experience. Railsbank understands that experience is invaluable to us as a brand and to the modern consumer. “
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