We are excited to announce a new partnership with Mastercard, one of the world’s leading bank card payment transaction processors.
This announcement comes as we plan to issue debit cards to our customers in order to speed up their payment processing. In turn, our partnership with Mastercard will allow us to make direct settlements straight to our business customers’ debit cards, giving them quicker access to their working capital.
The partnership with Mastercard builds on other recent developments, for example being awarded our e-money license by the Financial Conduct Authority (FCA) to deliver a more streamlined payments process for clients, and achieving PCI Compliance Level 1, which is the most stringent PCI level for platforms processing payments.
Vincent Choi, our CEO and co-founder of Pomelo Pay, said “Partnering with Mastercard is a huge moment in Pomelo’s journey and will play a key part in our mission to help lighten the load for growing businesses by providing a selection of low-cost and user-friendly tools that take the pain out of financial admin.
“We have several exciting projects in its pipeline for 2021 and we’re looking forward to entering the next phase of our growth with a partner such as Mastercard on board.”
Edoardo Volta, Head of Fintech at Mastercard UK & Ireland, commented: “Small businesses are the backbone of the economy and we are excited to be working with Pomelo Pay to offer a new solution for SMEs as they navigate the new normal and road to recovery. ”
The announcement has also sparked interest across the Fintech industry, featuring in AltFi and many other outlets, including Finextra, Fintech Alliance, FS Tech, The Paypers, and Business Money.
Our platform offers a full suite of payment products for businesses, including API integration, QR codes and soon-to-be launched Tap to Pay (contactless smartphone payments using NFC). We are looking forward to working with Mastercard, and opening the door to various avenues, with the opportunity to move beyond just payments.
If you are interested in finding out how Pomelo Pay can help your business, get in touch with our dedicated Sales Team today.
Read about how one small business overcame the many challenges it faced from covid-19.
We explore which technologies are at work every time you tap your smartphone on a payment terminal.