Leading issuer processor, Global Processing Services (GPS), today announces it has been selected by Mastercard, the leader in global payments and technology, as its chosen processing partner in its Fintech Express Program.
The two companies have been at the forefront of the global fintech revolution, with Mastercard working in close collaboration with GPS to pioneer, challenge and disturb the banking status quo. Together, the two companies have led the innovation curve for fintech entrepreneurs, from powering the principal digital bank card customers can spend on, to giving 2 series BIN sponsorship, multi-currency arrangements, in-app provisioning, new structure factors and agency banking.
As the Paytech Pioneer™, GPS is the lone issuer processor of its sort positioned to help fintechs, challenger banks and e-wallet providers in navigating the complex payments ecosystem and supporting development journeys from the same global platform, with a single API integration. By proceeding to leverage Mastercard's expertise, technology and global network, the partnership will further accelerate the continuous progress in the global fintech arena.
Joanne Dewar, Chief Executive Officer of Global Processing Services, commented: “GPS and Mastercard have led the charge in the fintech industry globally over the last decade. Through its early support of nascent e-money issuance and the use of prepaid, Mastercard has created what we now know as fintech, and what we all believe is pivotal to the future of mainstream payments. Together, we have broken new ground in the fintech space, addressing real world challenges and enabling financial empowerment for everyone – this announcement officially cements our partnership.”
Launched in June 2020, GPS is already embedded into Mastercard's Fintech Express program alongside GPS' partners which it processes for – Railsbank, a global Banking-as-a-Service (Baas) platform, and electronic money organization, Treezor.
The program helps start-ups launch rapidly and expand based on their needs by giving:
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Access: obtaining a Mastercard License and accessing the global payments company’s network through a streamlined onboarding process
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Build: becoming an Express Partner by building unique tech alliances and benefitting from all the advantages that Mastercard provides
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Connect: connecting with qualified Express Partners and going live with Mastercard in a matter of days
The program is designed for fintechs hoping to add payment answers for their suite of items, tech-savvy start-ups taking a gander at serving a new segment, as well as established players with ambitions to innovate through partnerships. Becoming an Express Partner helps brands rearrange the launching of payment arrangements, shortening the process from a few months to a matter of days. Express Partners also enjoy all the benefits of becoming a Qualified Engage Partner.
Mastercard Fintech Express falls under the umbrella of Mastercard Accelerate – Mastercard's overarching fintech platform that gives start-ups and emerging brands backing and assistance for every stage of their development and transformation, from market entry to global expansion. Mastercard Accelerate comprises four main programs: Fintech Express, Start Path, Engage and Developers.
About Global Processing Services (GPS)
Global Processing Services (GPS) is the trusted and proven go-to payments processing partner for today’s leading challenger brands, including Revolut, Starling Bank and Curve.
Founded in 2007, GPS’s highly flexible and configurable platform places the control firmly in the hands of global fintechs, digital banks and e-wallets, enabling them to deliver rich functionality to the cardholder. GPS is certified by Mastercard and Visa to process and manage any credit, debit or prepaid card transaction globally, with offices in London, Newcastle, Singapore, Sydney and Dubai. It is equipped to meet the stringent standards required by Tier 1 banks and has integrated with more than 40 issuing banks and operates programmes for 180+ clients in 60 countries, using over 150 currencies.