Identitii has signed a five-year Master Services Agreement (MSA) with Mastercard, as part of its ongoing partnership with the financial services giant.
Under the agreement, Identitii will licence its Overlay+ platform to Mastercard. The platform is designed to facilitate the ‘secure and auditable’ collection and exchange of financial transaction data.
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The agreement allows Identitii to sell its software and services to any Mastercard business across the world.
Commenting on the development, IdentitiiCEOJohn Rayment said: “We are thrilled to announce that we have signed an agreement with Mastercard, who we have had a relationship with since participating in their Start Path programme in 2018.
“What the MSA does is give us the opportunity to licence our Overlay+ platform to any Mastercard business globally. It is the first step in a process, following which we agree specific statements of work which outline how Overlay+ will be used to address particular needs in their business. We look forward to providing an update on specific projects in due course.”
Mastercard has the right to terminate the contract for any reason, with 30 days’ notice. The contract auto-renews for an additional one year period at the end of the five-year period, until called off by either party.
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