Advanced Payment Solutions (APS), a provider of payment solutions and prepaid cards, has expanded its partnership agreement with MasterCard for five more years.
Under the existing partnership, APS works with MasterCard to provide transparent pre-paid card solutions to support its one million consumers, over 30,000 SMEs and 1 in 5 local authorities.
The extended deal will allow both the companies to continue focusing on providing transparent access to banking and payment services.
The solution offered by APS and MasterCard enables small businesses and consumers to create a digital account within minutes to make and receive payments.
APS CEO and founder Rich Wagner said: "Extending this successful relationship will enable us to continue innovating our digitally enabled payment offerings and developing ground-breaking account and card solutions that support SMEs, consumers and the public sector."
MasterCard UK and Ireland group head for growth markets Tamer El-Emary said: "We are looking forward to the next phase of our relationship – leveraging the success to-date to continue developing new technologies that provide fair and simple solutions to current account customers."
Currently, APS manages over £180m worth of benefit payments per year.