Banking Circle partners with FIFA Clearing House
Technology-led payments fintech Banking Circle has partnered with FIFA Clearing House (FCH), a subsidiary of football’s world governing body (FIFA) committed to bringing fundamental change to the football transfer system.
Per the partnership agreement, Banking Circle will provide the means for FIFA to process and streamline the payment of training rewards (solidarity mechanism and training compensation) in conjunction with international player transfers.
Banking Circle says it will enable this in an efficient and secure manner, in line with FIFA Clearing House’s mission.
Taking football payments further
FCH adds that through its new deal with Banking Circle, it will have access to direct clearing with central banks and a solid worldwide banking network, helping fulfill its mission of centralising and automating payments between clubs and promoting financial transparency in the transfer system.
CEO of Banking Circle Laust Bertelsen says: “We are delighted to be working with the FCH and supporting FIFA in its ongoing commitment to introducing fundamental changes to the football transfer system.
“Utilising Banking Circle’s accounts and payment rails will enable the FCH to streamline the payment process, while also reducing the costs and time incurred with each payment for the benefit of the football community.”
FCH President and CEO, Frans van Proosdij, adds: “Delivering secure and transparent payments requires the right banking partner.
“Banking Circle provides us with direct access to clearing in multiple countries, meaning faster, more cost-effective and transparent international payments for all clubs, thereby making a valuable contribution to FCH operations.”
The FCH has been a key element of FIFA’s attempts to promote and protect the integrity of professional football, by making transfer payments fairer.
Operating since November 2022, the Paris-based FCH was offered an operations licence by the French Prudential Supervision and Resolution Authority.
Since then, amateur French club SC Malesherbois has become the first recipient of a payment processed by the FCH, which it received in June 2023.
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