The collaboration provides PXP Financial’s customers with safe, compliant and efficient cross-border payments and international transfers
17th of March 2023 – PXP Financial, an expert in acquiring and payment processing services, has today announced a new collaboration with global technology company Mastercard and payments infrastructure provider Payall, to deliver safe, compliant and efficient cross-border payments and international money transfers.
This collaboration offers inclusive payment capabilities that enable PXP Financial's customers to send funds to their partners, employees and suppliers safely, efficiently and more conveniently than ever. This includes inclusive pay-out options to recipients regardless of whether they are banked or unbanked. The next step for PXP Financial is to work with Payall to open new destinations and new payment channels, including sending to mobile wallets, cash pickup locations and paying direct to card.
PXP Financial began working with Payall in mid-2022, having chosen Payall for its focus on payments compliance and safety, as well as its cutting edge, fintech-level experience for end users. Payall offers financial institutions worldwide a new paradigm for offering cross-border payments with first-ever capabilities that transform international money movement.
Mastercard gives people and businesses a secure and convenient way to send money to bank accounts, mobile wallets, cards and cash payout locations around the world. Mastercard Cross-Border Services reaches more than 100 markets and 90% of the world’s population.
Commenting on the announcement, Kamran Hedjri, CEO of PXP Financial, said: “We’re delighted to be working with Payall and Mastercard to facilitate cross-border payments, which have traditionally been slow, cumbersome and risky for both payers and financial institutions. By leveraging Payall's proprietary compliance tech and Mastercard's innovation moving funds globally, we are now able to offer our customers speedy, safe and simple access to international payments.”
Gary Palmer, CEO of Payall, added: “With a focus on international funds transfer compliance, process automation and payment orchestration, we deliver turnkey technology and power new paradigms that eliminate the inefficiencies and address the complexities of cross-border payments. We’re thrilled to support PXP Financial to deliver better-than-fintech service to its customers making international payments.”
Rasika Raina, SVP, Mastercard Cross-Border Services, said: “Whether sending money home to families or working with global suppliers, the need for fast, reliable and transparent payments has never been more crucial. Through programs like this, we’re making cross-border payments safe, fast and easy for everyone.”
About PXP Financial
The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by in-house acquiring, 200+ alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through our unified gateway. Whatever your business needs today or tomorrow, PXP Financial’s innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.
Contact us at: firstname.lastname@example.org
About Payall www.payall.com
Payall is the first-ever provider of enterprise infrastructure enabling financial institutions worldwide to offer fast, transparent, inclusive and cost-effective cross-border payments. Novel infrastructure supports processing that’s external to financial institutions’ systems and their domestic payment networks for fast, no-tech integrations that are compliant and secure. Process automation eliminates the costly and error-prone manual effort of compliance, and inclusive payment orchestration enables senders and recipients—from the financially savvy to unbanked individuals—to choose the payment type that best meets their needs.
About Mastercard (NYSE: MA) 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.
Mastercard Cross-Border Services may be provided by Mastercard Transaction Services Corp. through its subsidiaries and affiliates. In some jurisdictions, services may be provided by subsidiaries or affiliates that hold licenses to engage in money transmission. In the UK, Mastercard Transaction Services (UK) Ltd. is authorised by the Financial Conduct Authority under the Payment Service Regulations 2017 (ref. no. 764057) for the provision of payment services. For a full list of jurisdictions, see crossborder.mastercard.com/licenses.