Payment processing platform, Paymentology, has been selected by Mastercard to join Mastercard’s Fintech Express programme and its Engage Programme.
Mastercard and Paymentology will work together to co-innovate in the field of banking technology in Europe and across the world. Powered by Mastercard, Paymentology is now positioned to support clients in the categories of Digital Wallets, Commercial Payments, and speed to market. Joining the Mastercard Fintech Express and Engage programmes will also give Paymentology the opportunity to engage with Mastercard’s extensive network thus helping Paymentology scale its businesses.
Jason Lane, Executive Vice President, Market Development Europe, Mastercard noted: “We are delighted to welcome Paymentology into both the Mastercard Fintech Express and Mastercard Engage programmes. As the partner of choice for leading fintech’s across Europe, our focus is to propel our fintech partners towards greater success and help them scale at speed. Paymentology is an invaluable player in the fintech space and look forward to working together to enhance the payment experience of the people that we serve.”
Founder and CEO of Paymentology, Shane O’Hara, sees being part of the programmes as an important step in the continued expansion of Paymentology. “Mastercard has rapidly evolved its network in recent years to support changing consumer spend behaviour including mobile wallets, higher ecommerce use and greater card control demands. We are thrilled to be joining Mastercard’s fintech programmes, enabling Paymentology to further develop leading edge processing which connects banks into the Mastercard network in real time whilst removing the processing pressure from the bank. Together, Mastercard and Paymentology are bringing the bank closer to its customer. Our flexible product configuration and customisation give control to the bank to deliver new products, at point of spend.”
The Mastercard Fintech Express Programme falls under the umbrella of Mastercard Accelerate – Mastercard’s overarching fintech platform that gives start-ups and emerging brands support and assistance for every stage of their growth and transformation, from market entry to global expansion. Mastercard Accelerate is comprised of four main programmes: Fintech Express, Start Path, Engage and Developers.
Through its open API, multi-currency wallet dedicated platform, Paymentology is putting banks in control of their cardholders’ journey at point of spend. The company is opening the doors for banks to deliver new insurance, buy-now-pay-later and instalment to their cardholders, through its real-time data feed to the bank at point of spend.
Paymentology uniquely positioned as the only cloud native processor capable of offering dedicated and co-hosted processing across the full retail banking and challenger banking space. Paymentology is the issuer processor of choice by customer-first digital banks, Revolut and Standard Chartered’s, Mox Bank. Paymentology also leads the drive to provide scalable secure processing for the larger field of digitising retail banks around the world.