Mastercard and myPOS to collaborate on new project

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Daniel Webber
Daniel Webber
Founder & CEO
Daniel is Founder and CEO of FXcompared and has 18 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely… Read more

•       This new collaboration between the two firms will build on previous partnerships which have seen them work together to improve debit card access to merchants in the myPOS network

•       “Thanks to partners like Mastercard we have been able to reach tens of thousands of businesses in the European Economic Area”, said a senior figure at myPOS

•       “Today’s partnership with myPOS aims to raise awareness of the great tools we have and, ultimately, improve the bottom line for small businesses”, said a Mastercard spokesperson

 

Internationally famous financial services institution Mastercard has confirmed that it will work alongside a European fintech firm called myPOS.

It is believed that the new joint endeavour will focus on promoting better card payment solutions to European businesses.

The target type of business will be small to medium sized enterprises (SMEs).

One of the problems facing this sector at the moment is an absence of cost-friendly card payment terminals and other systems.

This new collaboration aims to improve the availability of such services on a cost-effective scale, leading to better money transfer services.

myPOS is an innovative tool which provides what has been described as a “unified commerce approach”.

This approach includes improving cross border payments, as well as offering “multi-currency” services.

These two firms have worked together in the past too.

They have collaborated to offer Mastercard debit cards to merchants in the myPOS network – although this new partnership looks set to broaden the offer to customers.

According to founder and chief executive officer of myPOS, Christo Georgiev, the partnerships between the firms have already reached “tens of thousands of businesses”.

‘’myPOS was born out of the need for payment solutions specifically designed for the small businesses and solo entrepreneurs”, he said in a statement quoted in the press.

“Thanks to partners like Mastercard we have been able to reach tens of thousands of businesses in the European Economic Area and empower them to manage their payments and cashflow in new and more efficient ways”, he added.

For Mastercard, Jason Lane – who is the company’s executive vice president for market development in Europe – said that part of the goal of the collaboration was to “raise awareness” of the firm’s offer of payments solutions.

“We offer many innovative solutions that help entrepreneurs do business simply and securely, but it is important that people know of these solutions”, he said.

“Today’s partnership with myPOS aims to raise awareness of the great tools we have and, ultimately, improve the bottom line for small businesses”, he added.

Mastercard has a strong track record when it comes to working alongside smaller fintech firms.

It recently, for example, announced it was working alongside SumUp, a UK-based firm.

Don’t let yourself fall behind when it comes to building your knowledge of the online money transfer and payments industries.

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