FinXP PLUS, a FinXP and Mastercard partnership, creates fast, reliable, and affordable cross-border payments for retailers on an easy platform.
A cross-border payment system called FinXP PLUS is being introduced by FinXP, a European provider of banking and payments solutions, in partnership with Mastercard. FinXP will be able to access the Mastercard network and give its worldwide customer base unmatched access to a new array of payment options by utilising Mastercard’s cross-border services.
“Our most recent partnership with Mastercard demonstrates our dedication to provide retailers with a smooth payment experience. According to Jens Podewski, co-founder and CEO of FinXP, “We give them the ability to make fast and reliable payments at a cost-effective price with an intuitive platform.”
“We are thrilled to be introducing the new service, particularly because it provides a multitude of payout options in a single package. Of course, without working with a pioneer in payments like Mastercard, this would not have been feasible.
FinXP aims to enable multi-channel transfers for merchants, modernising corporate cross-border payments. They can then pay out to cards, bank accounts, w-wallets, and cash-out sites as a result. This adaptability guarantees that customers have the freedom needed to accommodate various payment preferences across the globe.
Combining FinXP PLUS
FinXP PLUS offers a proprietary platform that supports numerous currencies and enables safe transactions in more than 100 countries. Among them are:
- USD
- GBP
- EUR
- CAD
- CHF
- TRY
- PLN
- SEK
- DKK
- NOK
- PHP
- COP
“We can present a much stronger value proposition through this new service not just to our current clients but also in new markets that we are entering such as international remittance, travel, and marketplaces,” stated Chris Denny, COO at FinXP.
The new service works with IBAN4U, a Euro IBAN service offered by FinXP that combines Mastercard debit cards with specific corporate accounts. FinXP PLUS subscribers will thus gain from a complete account solution. They will thereafter be able to use a physical debit card to make and receive payments as well as to access their funds.
Reaching out to the Mastercard network
FinXP will give its customers access to Mastercard’s network through this arrangement. This covers professional services firms and e-commerce businesses. Reputable retailers from specific industries including fintech, iGaming, blockchain, and nutraceuticals are also included.
According to Dr. Peter Robejsek, country manager at Mastercard, “having fast, reliable access to funds at a reasonable cost has never been more crucial in the current climate.” “Regardless of whether they want to send money to a bank account, card, digital wallet, or cash withdrawal location, our partnership with FinXP will provide its customers a safe, simple, and reliable cross-border payments experience.”
Through the use of Mastercard’s global network, payments can be sent to bank accounts, digital and mobile wallets, cards, cash, and more than 180 countries and 150 currencies through a range of remittance-related products. All all, these services give senders access to nearly 50 markets in near real time and over 90% of the global banked population.
Finally, for several sectors, the introduction of FinXP PLUS marks a major advancement in cross-border payments. FinXP and Mastercard are eager to change how companies carry out cross-border transactions in order to support the expansion of world trade.
