Mastercard and payments technology start-up CleverCards have signed a strategic partnership to expand the usage of digital cards across Europe.

The deal comes as CleverCards also joins Mastercard’s Fintech Express programme, propelling CleverCards to simplify the payments value chain across Europe to enable anyone, anywhere, anytime to be paid instantly by businesses.

Building on a successful partnership forged in 2019, the announcement underlines the organisations’ commitment to digitalising payments and delivering significant efficiencies and benefits to businesses.

Leveraging Mastercard’s core digital platform – Digital Enablement Service (MDES) – and integrating Mastercard processing and services capabilities into their platform, CleverCards’ innovative technology simplifies the payments value chain, enabling businesses to bypass several intermediary card issuing processes and instead easily send a digital prepaid Mastercard card directly to an email address or mobile phone number.

Using Mastercard’s extensive network to scale up business

The recipients of the digital card can instantly spend their funds online or in-store using digital wallets, such as Google Pay, Samsung Pay and Apple Pay, to make secure contactless payments.

Powered by Mastercard, CleverCards is well-positioned to support clients with digital first solutions, enabling businesses and consumers to be paid anywhere, anytime, instantly.

Joining the Mastercard Fintech Express programme will also give CleverCards the opportunity to engage with Mastercard’s extensive network, thus helping CleverCards scale its business at speed.

The applications of the technology are manifold, with immediate opportunities apparent in the gig economy, compensation pay-outs and employee expenses & benefits.

This provides a competitive advantage by facilitating ‘work today – get paid today’ for gig economy workers.

Bringing flexibility and speed to payment

With no bank accounts needed, they can simply manage their earnings using their app and earnings are instantly topped-up to a digital Mastercard card on their phone.

Similarly, this offering could also help insurance companies and airlines with a new level of flexibility and speed when it comes to paying out claims to consumers.

CleverCards’ offering has made it effortless for businesses to order and send company-branded digital gift cards, incentives and rewards, via email, SMS or other messaging services, to employees or customers anywhere, who can use them everywhere that accepts Mastercard.