Naxxar, Malta – FinXP, a European payments and banking solutions provider, is pleased to announce its strategic collaboration with Mastercard to introduce an innovative cross-border payment solution, named FinXP PLUS. By leveraging Mastercard’s Cross-Border Services, FinXP shall be tapping into the extensive Mastercard network, thereby providing its global customer base with unparalleled access to a new range of payment possibilities.
FinXP PLUS is set to modernize corporate cross-border payments by providing a proprietary platform that facilitates secure transactions to over 100 countries, supporting multiple currencies, including USD, GBP, EUR, CAD, CHF, TRY, PLN, SEK, DKK, NOK, PHP, COP, and more. One of the standout features of the service is its support for multi-channel transfers, empowering merchants to make payouts to bank accounts, cards, e-wallets, as well as cash-out locations. This versatility ensures that clients have the flexibility required to adapt to different payment preferences around the world.
The new service integrates with FinXP’s best-in-class 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 enabling them to receive payments, make payouts, as well as use their funds via a physical debit card.
Through this partnership, FinXP will extend access to Mastercard’s network to its diverse clientele, which includes e-commerce enterprises, professional services firms, as well as reputable merchants hailing from specialized sectors such as blockchain, fintech, iGaming, and nutraceuticals.
“Our latest collaboration with Mastercard reinforces our commitment to offer merchants with a seamless payment experience, that means 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”.
Chris Denny, COO at FinXP added that “through this new service we are able to 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”.
“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% 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.
FinXP, founded in 2014, is a European electronic money institution licensed by the Malta Financial Services Authority. The company’s mission is to enable its customers to quickly and easily, make and receive payments in whatever form best suits them. The company is registered with the European Payments Council and Swift, and it is a principal member of Mastercard. FinXP provides Dedicated IBAN Accounts, Card-Issuing, Omnichannel Payment Processing, Unique Pay-out Solutions, SEPA Direct Debit Collection, and Clearing services. It is a fast-growing player in the European PayTech industry.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
Media contact name: Jeffrey Romano
Country/city: Malta, Naxxar
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