Mastercard Partners with WorldPay and Travel Tax Free for Instant Tax Refunds

Mastercard has announced a new partnership with WorldPay and the Spain-based Travel Tax Free firm. The collaboration will integrate Mastercard’s Send into Travel Tax Free’s management service, allowing eligible tourists in Spain and Portugal to opt for instant tax refunds through the Traveller Wallet.

Enhancing Tourist Experience

The Traveller Wallet was designed to simplify tax free management and reimbursements. In light of the growing demand for rapid and secure transactions, the joint venture aims to cater to this need both in-store and when receiving funds. Furthermore, the partnership will equip retailers with the necessary tools to streamline their operations, thereby enhancing the overall shopping experience for clients who prefer digital payment methods.

Mastercard’s Development Strategy

Mastercard’s recent partnerships and product launches have consistently leveraged its global network to offer diverse payment options. These include payments to bank accounts, digital and mobile wallets, cash, and cards across various regions worldwide.

Earlier in November 2023, Mastercard collaborated with the European payments and banking services provider, FinXP, to introduce the FinXP PLUS product. This partnership expanded FinXP’s capabilities, providing a broader range of payment options to its global client base.

FinXP PLUS was developed to modernize corporate cross-border payments by delivering secure transactions to over 100 countries in various currencies. Throughout the collaboration, FinXP extended access to Mastercard’s network to its clients, including ecommerce businesses, professional solutions firms, and merchants specializing in sectors like fintech, blockchain, and iGaming.

Expanding Reach in the UAE Region

Mastercard also announced a partnership with First Abu Dhabi Bank earlier the same month to launch the SlicePay BNPL card for users in the UAE region. The SlicePay card, backed by Mastercard’s user protection tools, is set to allow equal payments without any client fees or interest. The launch of the card under the Dubai First trademarks represents the debut of the Mastercard Installments Program in the Eastern Europe, Middle East, and Africa (EEMEA) region.