FinXP and Mastercard Launch FinXP PLUS: Modernizing Cross-Border Payments
Introduction
FinXP, a European payments and banking solutions provider, has partnered with Mastercard to launch FinXP PLUS, an innovative cross-border payment solution. This collaboration allows FinXP to tap into Mastercard's extensive network, providing its global customer base with unparalleled access to a new range of payment possibilities.
Modernizing Corporate Cross-Border Payments
FinXP PLUS aims to modernize corporate cross-border payments by offering a proprietary platform that enables secure transactions to over 100 countries. The service supports multiple currencies, including USD, GBP, EUR, CAD, CHF, TRY, PLN, SEK, DKK, NOK, PHP, COP, and more. One of the standout features of FinXP PLUS is its support for multi-channel transfers, empowering merchants to make payouts to bank accounts, cards, e-wallets, and cash-out locations. This versatility ensures that clients have the flexibility required to adapt to different payment preferences around the world.
Integration with IBAN4U
FinXP PLUS integrates with FinXP's Euro IBAN service called IBAN4U, which provides dedicated corporate accounts complemented with Mastercard debit cards. This comprehensive account solution enables FinXP PLUS users to receive payments, make payouts, and use their funds via a physical debit card.
Extending Access to Mastercard's Network
Through this partnership, FinXP extends access to Mastercard's network to its diverse clientele, including e-commerce enterprises, professional services firms, and merchants from specialized sectors such as blockchain, fintech, iGaming, and nutraceuticals.
Seamless Payment Experience
Jens Podewski, co-founder and CEO of FinXP, emphasizes the commitment to offer merchants a seamless payment experience. The collaboration with Mastercard enables fast and reliable payments at a cost-efficient price with an easy-to-use platform.
Expanding Value Proposition
Chris Denny, COO at FinXP, highlights that the new service presents a much stronger value proposition to current clients and opens up new markets such as international remittance, travel, and marketplaces.
Safe, Simple, and Reliable Cross-Border Payments
Dr. Peter Robejsek, country manager at Mastercard, emphasizes the importance of fast and reliable access to funds at a reasonable cost, especially in the current climate. The partnership with FinXP provides customers with a safe, simple, and reliable cross-border payments experience, regardless of the desired payment method.
Mastercard's Remittance-Related Products
Mastercard's suite of remittance-related products enables 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 provide senders with access to more than 90% of the world's banked population and in near real-time to more than 50 markets.
Transforming Cross-Border Payments
The launch of FinXP PLUS represents a significant step forward in cross-border payments for various industries. FinXP and Mastercard are dedicated to transforming the way businesses conduct international transactions and facilitating the growth of global commerce.
About FinXP
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 the most convenient form. FinXP provides a range of services, including Dedicated IBAN Accounts, Card-Issuing, Omnichannel Payment Processing, Unique Pay-out Solutions, SEPA Direct Debit Collection, and Clearing services.
About Mastercard
Mastercard is a global technology company in the payments industry. Their mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere. With connections across more than 210 countries and territories, Mastercard is building a sustainable world that unlocks priceless possibilities for all.
