(18 September 2023 – United Kingdom) Mastercard and Paysend, a UK-based fintech, have today expanded their collaboration to enhance cross-border payments for small and medium enterprises (SMEs).
Mastercard and Paysend are working together to enable SMEs to send and receive payments to and from a range of developed and emerging markets quickly 24/7 and 365 days a year. This latest joint solution, called Open Payment Network, orchestrates end-to-end payment flows, from initiation to settlement, and enables near real-time payments through connections with local network partners and instant payment schemes.
Mark Barnett, President, Mastercard Europe says: “We are excited to deepen our collaboration with Paysend to empower small and medium businesses to pay and get paid promptly. At Mastercard, we are committed to helping SMEs grow and thrive in the digital economy.”
“With a shared vision to provide innovative financial products and solutions to our customers, Mastercard has been a key collaborator to us on our journey to improve the efficiency of the financial system and make cross-border payments safe, fast and convenient,” says Abdul Abdulkerimov, Co-Founder and Chairman, Paysend. “The Open Payment Network empowers SMEs to transact globally with ease, ensuring timely and secure payments at every step of the way.”