Mastercard and Previse announce new collaboration

|

Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • Previse, a global online money transfer platform, has confirmed that it will work with Mastercard as part of a new offer.
  • The relationship will help facilitate real-time payments for Previse customers through the Mastercard Cross-Border Services function.
  • “The integration of Mastercard Cross-Border Services enables every corporate using InstantPay to effortlessly pay suppliers across the world on day one,” said a spokesperson for Previse.

Mastercard and Previse, two firms working in the online money transfer world, have confirmed that they will be collaborating to facilitate real-time payments.

Mastercard, a household name in the global financial sector, has confirmed that the payment platform provider Previse will integrate Mastercard Cross-Border Services – a global push payments platform – into its offer.

The move will mean that buyers can make real-time payments to suppliers in the business-to-business world in over 100 worldwide markets.

Previse is just one of many organisations that have recently collaborated with Mastercard.

According to Mastercard, its Cross-Border Services offer brings together around nine-tenths of the global population.

This is through bank accounts, bank cards, cash agents, and more.

Speaking specifically on the collaboration with Previse, the executive vice president for New Payments Flows, North America at Mastercard said that speed and security were key to the product offer.

Ron Shultz explained that participating companies could “expect” to receive their money “directly”.

“With Mastercard Cross-Border Services, businesses can expect to receive funds quickly, directly and securely,” he said.

He went on to say that the solutions that the two firms were coming up with would help improve cash flow for businesses and give them the chance to move away from ineffective processes.

“Digital B2B payment innovations like the ones being driven by Mastercard and Previse are helping suppliers gain faster access to funds and freedom from inefficient processes, so they can not only recover today – but thrive tomorrow.”

Previse’s chief executive officer and co-founder said that small to medium-sized enterprises needed to know that their supply chains were both “flexible” and “robust”.

Paul Christensen explained that this was one way to help firms grow and do better.

“Flexible, robust supply chains and steadfast cash flow are essential for businesses to thrive and grow, particularly SMBs.”

He went on to say that it would be possible to make payments “effortlessly” with this new collaboration.

“The integration of Mastercard Cross-Border Services enables every corporate using InstantPay to effortlessly pay suppliers across the world on day one,” he said. 

He concluded by saying that it was especially important during the context of the pandemic.

“It’s an innovative solution from Mastercard and Previse, which strengthens global supply chains and is a true win-win for large corporates and SMBs alike as we recover from the pandemic.”

If you want more information about the workings of the international money transfer sector, just go over to this link and explore some reviews from our experts.


Most Read

Use Our Currency Comparison Tool

Results are ranked in order of the best overall deal, taking into account transfer times, rates, fees, and customer service.

Editor's Choice

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.