FinXP, a European payments and banking solutions provider, is collaborating with Mastercard to introduce a cross-border payment solution, named FinXP PLUS. By leveraging Mastercard’s cross-border services, FinXP shall be tapping into the Mastercard network, thereby providing its global customer base with unparalleled access to a new range of payment possibilities.
“Our latest collaboration with Mastercard reinforces our commitment to offer merchants a seamless payment experience. We provide them with the ability to make fast and reliable payments at a cost-efficient price with an easy-to-use platform,” said Jens Podewski, co-founder and CEO of FinXP.
“We are very excited about launching the new service especially since it offers so many payout capabilities in just a single solution. Of course, this would not have been possible without partnering with a payments leader like Mastercard.”
FinXP looks to modernise corporate cross-border payments by empowering merchants to make multi-channel transfers. This in turn enables them to make payouts to bank accounts, cards, w-wallets and cash-out locations. This versatility ensures that clients have the flexibility required to adapt to different payment preferences around the world.
Integrating FinXP PLUS
FinXP PLUS provides a proprietary platform that facilitates secure transactions in over 100 countries, supporting multiple currencies. A few include:
Chris Denny, COO at FinXP said: “Through this new service we can present a much stronger value proposition not just to our current clients but also in new markets that we are entering such as international remittance, travel and marketplaces.”
The new service integrates with FinXP’s Euro IBAN service called IBAN4U, which provides dedicated corporate accounts complemented with Mastercard debit cards. Therefore, FinXP PLUS users shall benefit from a comprehensive account solution. In turn, they will be able to receive payments, make payouts, and use their funds via a physical debit card.
Extending to Mastercard’s network
Through this partnership, FinXP will extend access to Mastercard’s network to its clientele. This includes e-commerce enterprises and professional services firms. It also includes reputable merchants hailing from specialised sectors such as blockchain, fintech, iGaming, and nutraceuticals.
“In the current climate, having fast, reliable access to funds at a reasonable cost has never been more crucial,” said Dr. Peter Robejsek, country manager at Mastercard. “Our partnership with FinXP will provide its customers with a safe, simple and reliable cross-border payments experience, regardless of whether they want to send money to a bank account, card, digital wallet or cash withdrawal location.”
Mastercard’s suite of remittance-related products enables payments using Mastercard’s global network to be delivered to bank accounts, digital and mobile wallets, card, and cash across more than 180 countries and 150 currencies. In total, these services provide senders with access to more than 90 per cent of the world’s banked population and in near real-time to more than 50 markets.
The launch of FinXP PLUS represents a significant step forward in cross-border payments for several industries. FinXP and Mastercard look forward to transforming the way businesses conduct international transactions, facilitating the growth of global commerce.