FinXP Partners with Mastercard to Unveil Cross-Border Payment Solution

European payments and banking solutions provider, FinXP, has recently announced a strategic collaboration with Mastercard. The partnership is aimed at introducing a new cross-border payment solution known as FinXP PLUS.

Utilizing Mastercard’s Network to Enhance Global Payments

FinXP will leverage Mastercard’s Cross-Border Services to tap into the vast Mastercard network. This move will grant FinXP’s global customer base an unprecedented access to a wide range of payment possibilities. The FinXP PLUS platform is designed to modernize corporate cross-border payments, offering secure transactions to over 100 countries and supporting multiple currencies.

The service boasts a standout feature of supporting multi-channel transfers. This allows merchants to make payouts to bank accounts, cards, e-wallets, and cash-out locations, ensuring versatility and flexibility to cater to diverse payment preferences worldwide.

Integrating with FinXP’s Euro IBAN Service

The innovative service will integrate with FinXP’s Euro IBAN service, IBAN4U. This service provides dedicated corporate accounts along with Mastercard debit cards. As a result, FinXP PLUS users will have a comprehensive account solution, enabling them to receive payments, make payouts, and use their funds via a physical debit card.

Extending Network Access to Diverse Clientele

Through this partnership, FinXP will extend the reach of Mastercard’s network to its diverse clientele. This clientele includes e-commerce enterprises, professional services firms, and reputable merchants from specialized sectors such as blockchain, fintech, iGaming, and nutraceuticals.

Jens Podewski, co-founder and CEO of FinXP, stated that this latest collaboration with Mastercard reinforces their commitment to providing merchants with a seamless payment experience. He added that the new service offers many payout capabilities in a single solution, thanks to their partnership with Mastercard.

Aiding Global Commerce

Mastercard’s remittance-related products allow payments using their global network to be delivered to bank accounts, digital and mobile wallets, cards, and cash across more than 180 countries and 150 currencies. This provides senders with access to more than 90% of the world’s banked population and in near real-time to over 50 markets.

The launch of FinXP PLUS signifies a significant advancement in cross-border payments for various industries. FinXP and Mastercard are excited about the potential to transform how businesses conduct international transactions and facilitate the growth of global commerce.