PURCHASE, N.Y.—Mastercard is reporting it has partnered with payment processor PXP Financial and payments infrastructure firm Payall to boost cross-border payments.
The partnerships between the three companies will aim to “deliver safe, compliant and efficient cross-border payments and international money transfers,” Mastercard said.
This collaboration also offers inclusive payment capabilities that enable PXP Financial’s customers to send funds to their partners, employees and suppliers in a more safe, efficient and convenient way, according to Fintech Global.
PXP noted that this includes inclusive payout options to recipients regardless of whether they are banked or unbanked. The next step for PXP Financial, it said, is to work with Payall to open new destinations and new payment channels, including sending to mobile wallets, cash pickup locations and paying direct to card.
‘Delighted’ With Partnership
PXP Financial began working with Payall in mid-2022.
“We’re delighted to be working with Payall and Mastercard to facilitate cross-border payments, which have traditionally been slow, cumbersome and risky for both payers and financial institutions,” PXP Financial CEO Kamran Hedjri said. “By leveraging Payall’s proprietary compliance tech and Mastercard’s innovation moving funds globally, we are now able to offer our customers speedy, safe and simple access to international payments.”
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