Tap selects Moorwand for new multi-currency Mastercard

Tap Global Group plc has chosen Moorwand Ltd to serve as issuer and BIN sponsor for a new Mastercard programme, the regulated digital finance platform announced. The arrangement covers a multi-currency Tap card, according to the company. Tap trades on AIM under TAP and in the US over-the-counter market under TAPIF.

Moorwand's role will include issuing the card and supplying the bank identification number, or BIN, that helps process transactions. Such partnerships are common in payments, where specialist firms provide regulatory and technical infrastructure so fintech platforms can launch card products without building those functions in-house.

For Tap, the programme extends its card offering into a multi-currency format. The company operates as a regulated digital finance platform. The new Mastercard programme is expected to support that positioning, though the announcement did not disclose a launch date, fee structure or target markets.

The appointment highlights the continuing division of labour in digital payments. Issuers and BIN sponsors like Moorwand handle behind-the-scenes requirements, while consumer-facing brands focus on user experience and distribution. Tap's shareholders will watch for further details on rollout and adoption.