Mastercard and Paysafe Deepen Global Collaboration With Integration of Mastercard Send
June 28 2022 - 4:00AM
Business Wire
Paysafe offers merchants fast and secure
payout capabilities with Mastercard Send
Mastercard and Paysafe (NYSE: PSFE) today announce the
integration of Mastercard Send into Paysafe’s payments platform,
enhancing the payout capabilities offered to Paysafe’s merchant
customers in the UK and EU. The addition of Mastercard Send is the
latest extension of the ongoing global relationship between the two
companies which supports multiple Paysafe products and
services.
Mastercard Send enables people and organisations to send and
receive money around the world in near real-time. It is designed to
help banks, businesses and digital players modernise the way they
send payments, giving people access to funds with speed, choice,
and security wherever they interact.
The addition of Mastercard Send supports Paysafe in offering its
merchant base a fast, tried and tested international and domestic
payout service. This is key for speed of settlement particularly
for small businesses or those in specialised industries such as
insurance, marketplaces and e-commerce or gaming. Mastercard Send
enables funds to be sent quickly and securely to cards, bank
accounts and mobile wallets.
The integration also supports merchants who have experienced
changing consumer payment preferences since the beginning of the
pandemic. According to a study commissioned by Paysafe, most online
businesses (61%) have accelerated their plans to upgrade the
checkout since the outbreak of COVID-19 as a direct result of
seeing consumer payments preferences changing (65%) and customers
asking for more payment options (52%).
For those merchants with the most up-to-date integration to
Paysafe’s platform, Mastercard Send will be available via their
existing payment connection, alongside the full suite of Paysafe’s
payment products and services. Through the integration, merchants
will also be provided with automatic reconciliations plus
transaction data along with customisable reports.
Scott Abrahams, Senior Vice President Business Development,
United Kingdom and Ireland SIP at Mastercard said, “In a
climate where the adoption of digital payments has grown
exponentially, we’re committed to supporting businesses in their
ability to send money internationally, quickly and securely. We
value our ongoing relationship with Paysafe by offering Mastercard
Send as part of the suite of payment solutions available via
Paysafe’s single API connection.”
Paulette Rowe, CEO of Integrated and Ecommerce Solutions at
Paysafe, said, “Mastercard Send offers a truly fast and
reliable outgoing fund settlement option, so we are pleased to
offer this innovation to our merchants. As part of our
customer-centric approach and deep expertise in specialised
industries, we understand the pressures our merchants face in
offering customer payouts at speed. By offering Mastercard Send we
are further enhancing the tailored approach which we provide to
businesses internationally as well as delivering multiple methods
of payment.”
NOTES TO EDITORS
About Mastercard
www.mastercard.com 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. Our decency
quotient, or DQ, drives our culture and everything we do inside and
outside of our company. With connections across more than 210
countries and territories, we are building a sustainable world that
unlocks priceless possibilities for all.
Follow us on Twitter @MastercardUK
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading
specialised payments platform. Its core purpose is to enable
businesses and consumers to connect and transact seamlessly through
industry-leading capabilities in payment processing, digital
wallet, and online cash solutions. With over 20 years of online
payment experience, an annualised transactional volume of over US
$120 billion in 2021, and approximately 3,500 employees located in
10+ countries, Paysafe connects businesses and consumers across 100
payment types in over 40 currencies around the world. Delivered
through an integrated platform, Paysafe solutions are geared toward
mobile-initiated transactions, real-time analytics and the
convergence between brick-and-mortar and online payments. Further
information is available at www.paysafe.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220628005170/en/
Nila Moloney, Communications UK&I, Mastercard
Nila.moloney@mastercard.com
Anna Strong, Vice President of Communications, Europe, Paysafe
Anna.Strong@paysafe.com
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