European payments and banking solutions provider, FinXP, has announced a groundbreaking collaboration with Mastercard, unveiling their innovative cross-border payment solution, FinXP PLUS.
FinXP PLUS, a result of this strategic partnership, harnesses Mastercard's Cross-Border Services, offering FinXP’s global customer base unprecedented access to diverse payment avenues.
This revolutionary platform modernizes corporate cross-border payments, streamlining secure transactions to over 100 countries and supporting numerous currencies, including USD, GBP, EUR, CAD, CHF, TRY, PLN, SEK, DKK, NOK, PHP, COP, and more.
A standout feature of FinXP PLUS is its support for multi-channel transfers. This functionality empowers merchants to make payouts to bank accounts, cards, e-wallets, and even cash-out locations, ensuring adaptability to various payment preferences globally.
The service seamlessly integrates with FinXP's top-notch Euro IBAN service, IBAN4U, offering dedicated corporate accounts complemented by Mastercard debit cards. Users of FinXP PLUS will benefit from an all-encompassing account solution, enabling receipt of payments, seamless payouts, and the utilization of funds through a physical debit card.
Jens Podewski, co-founder, and CEO of FinXP, expressed their enthusiasm, stating, “Our latest collaboration with Mastercard reinforces our commitment to offer merchants a seamless payment experience, allowing fast and reliable payments at a cost-efficient price with an easy-to-use platform.”
Chris Denny, COO at FinXP, emphasized the enhanced value proposition this service presents to their clients, stating, "Through this new service, we can provide a much stronger value proposition, not only to our current clients but also in new markets that we are entering such as international remittance, travel, and marketplaces."
Dr. Peter Robejsek, country manager at Mastercard, highlighted the importance of swift and reliable access to funds, especially in the current climate, stating, “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 allows payments using its global network to be delivered to bank accounts, digital and mobile wallets, cards, and cash across more than 180 countries and 150 currencies.
These services grant senders access to over 90% of the world's banked population and facilitate near real-time transactions in over 50 markets.
The launch of FinXP PLUS marks a significant stride in cross-border payments for various industries. FinXP and Mastercard are poised to reshape the landscape of international transactions, fostering the expansion of global commerce.
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