Mastercard announces the first 16 technology partners to join the Mastercard Send Partner Program, a new program for banks, financial technology providers and system integrators to help them deliver more convenient and secure real-time digital payments to their customers. This innovative program allows these providers to quickly embed end-to-end real-time payments into their customer journeys using Mastercard Send, to help them meet growing consumer expectations for speed, choice and security.
- Mastercard Send enables people and organizations to send and receive money in real-time, at home and abroad
- The Mastercard Send Partner Program provides industry leaders and tech enablers with tools and support to drive innovation to meet evolving consumer expectations for speed, choice and security in real-time digital payments
- Members of the program will be supported to accelerate the embedding of Mastercard Send into their services to create a seamless digital instant payments journey for their customers – driving customer retention and acquisition by giving their customers greater control over their finances
- The first 16 partners represent a diverse cross-section of markets including the U.S., Europe and Asia Pacific, with more to be announced throughout 2022
“Cognizant Banking & Financial Services help companies accelerate their adoption of digital real-time payments, meeting the growing demands of customers looking to transition from more traditional cash and paper check methods. We are excited to be partnering with Mastercard on this journey, as they are a true digital payments pioneer.”
In a world where people increasingly expect to pay and get paid how they want, and instantly, Mastercard Send enables people and organizations to send and receive money in real-time around the world. It is designed to help banks, businesses and digital players modernize the way they send payments so that they can provide their customers with increased control over their finances, while they benefit from greater customer acquisition and retention.
Latest Fintech News: Novo Hires Sam Davidson as General Counsel
Mastercard Send supports a wide variety of use cases to benefit consumers, banks and government bodies – demonstrating the broad appeal and applicability of Mastercard’s capabilities. Working with hundreds of customers around the world including governments, banks, and global marketplaces, the number of use cases continues to grow across healthcare, gaming, B2B payments and crypto wallet cash outs – ranging from paying out emergency relief funds and insurance disbursements, to on-demand wages for gig economy workers.
The initial partners to join the program are Adyen, AptPay, Checkout.com, Cognizant, Fenige, Green Dot, Ingo Money, KyckGlobal, Opentech, OpenText, Oracle, PayPal, Stripe, TabaPay, Transcard and Verestro.
More partners will be announced throughout 2022 and Mastercard will collaborate with these leading technology partners to enhance functionality and accelerate deployment of Send across global markets.
Partners will be provided with turnkey resources and additional benefits to facilitate world-class digital payment experiences including:
- Go-to-market collaboration – supported with business and sales enablement through referral agreements, as well as participating in additional sales and marketing opportunities.
- Training & insights – access to industry insights and training sessions to help make informed business decisions. They can also participate in regional forums with insight from Mastercard and partners around value and product propositions as well as market priorities.
- Technical support – provided with full end-to-end technical, solution and product support.
- Industry expertise and positioning – access to Mastercard’s product and market expertise as well as benefitting from its scale and speed-to-market capabilities.
- Mastercard Engage – qualified partners will be invited to join the Mastercard Developers global partner network, Engage, to bundle products and services so they are better equipped to meet customers’ needs. Through the network, partners will gain access to Mastercard solutions, be connected to Mastercard customers and receive additional promotional opportunities, access to technical and product education, and use of the Engage qualification mark.
Latest Fintech News: Trace Finance Announces $4.3 Million Seed Investment To Disrupt Global Banking For Latin American Startups
Liz Oakes, Executive Vice President, Send, Mastercard, said: “Payment solutions need to provide convenient options and reflect the increasingly complex global world we all live in. Consumers expect speed, choice and security wherever they interact so offering convenient, innovative ways to pay and get paid is essential. Our Send Partner Program will ensure our partners have the ongoing support they need to embed real-time payment services into the heart of their product offering and provide millions more people with secure, convenient and faster ways to pay and get paid. We are excited to be supporting our initial 16 partners and look forward to welcoming more to the Program over the coming months.”
Together, Mastercard and its partners will focus collaboration efforts to bring best in class digital payment solutions to market by embedding real-time payments into the digital customer journey. For example, Oracle and Mastercard partnered to create Civic Assist, a comprehensive solution to enable public sector organizations to disburse aid quickly, safely and securely – ensuring people in need are able to get financial support, fast. Additionally, AptPay has recently announced it will be launching smartSEND, enabling casinos and online gaming sites to instantly disburse winnings into bank accounts, prepaid cards and/or mobile wallets using Mastercard Send, providing winners with more convenient, immediate access to their money.
Mastercard Send is an integral part of Mastercard’s mission to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple and accessible. Together with Mastercard Cross-Border Services, customers are able to reach more than 100 countries and 50 currencies, and access more than 90% of the world’s population through a single, secure global platform. For example, OpenText integrates with both Send and Cross-Border Services to ensure that customers and partners can quickly enable the secure exchange of digital payments globally – removing lengthy delays or uncertainty over international payments.
Latest Fintech News: Leadership Circle Raises $20 Million to Become a Full-Service Leadership Development Platform
[To share your insights with us, please write to sghosh@martechseries.com]
