Paysafe has expanded its ongoing partnership with Mastercard to offer enhanced payout capabilities to its merchants in the UK and European Union by tapping Mastercard Send.
Mastercard Send facilitates the transfer of funds to cards, bank accounts and mobile wallets with speed and security.
The integration of Mastercard’s solution into Paysafe’s payments platform will allow people and organisations to send and receive money globally almost instantly.
It will also support banks, businesses and digital players to modernise the way they send payments and help them offer people enhanced access to funds with security.
Mastercard UK and Ireland SIP business development senior vice-president Scott Abrahams said: “In a climate where the adoption of digital payments has grown exponentially, we’re committed to supporting businesses in their ability to send money internationally, quickly and securely. We value our ongoing relationship with Paysafe by offering Mastercard Send as part of the suite of payment solutions available via Paysafe’s single API connection.”
Merchants with the most up-to-date integration to Paysafe’s platform will be able to access Mastercard Send via their existing payment connection alongside, Paysafe’s payment offering and services.
The integration will also provide merchants with automatic reconciliations in addition to transaction data along with customisable reports.
Paysafe Integrated and Ecommerce Solutions CEO Paulette Rowe said: “Mastercard Send offers a truly fast and reliable outgoing fund settlement option, so we are pleased to offer this innovation to our merchants.
“As part of our customer-centric approach and deep expertise in specialised industries, we understand the pressures our merchants face in offering customer payouts at speed. By offering Mastercard Send we are further enhancing the tailored approach which we provide to businesses internationally as well as delivering multiple methods of payment.”
Paysafe continuing global alliance with Mastercard supports multiple Paysafe products and services. In 2020, the UK-based specialised payments platform struck a strategic partnership with the payment giant to support its card acceptance in the European Economic Area.
Last month, Paysafe signed a global partnership with gambling technology company Playtech to expand their tie-up to the UK and Europe.