Paynetics joins Mastercard Accelerate to support growth

Trusted payment service provider Paynetics is one of the first European FinTechs to join the Mastercard Accelerate programme to support its growth plans.

The regulated e-money institution will now get better access to Mastercard’s proprietary technology, cyber security services, expert support in identifying and reaching new business verticals and the chance to collaborate with Mastercard in the development of new products and services.

Paynetics brings together next-generation payment technologies, including card acquiring and issuing, IBAN accounts, money transfers, e-wallets and PoS software.

Antonina Martinova, chief executive of Paynetics, said: “The Mastercard Accelerate programme will give us a significant boost as we continue to develop innovative new products for the market.

“We have a responsibility to push the envelope and deliver these kinds of cutting edge technologies to our customers and we’re confident we can now do this more quickly and efficiently than ever.”

Paynetics says it was the fastest to implement Mastercard’s Digital Enablement Service (MDES) in Europe. It was also one of the first organisations to launch Mastercard’s Digital First payment card, in partnership with telecoms firm VIVACOM and digital banking platform provider phyre.

Edoardo Volta, head of FinTech at Mastercard UK and Ireland, said: “We are expanding our relationship with Paynetics to further empower them to fulfil their ambitions of scale and speed.”

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