PXP Financial, Mastercard and Payall team up to deliver ‘speedy and safe’ cross-border payments
Acquirer and payment processor PXP Financial has joined forces with Mastercard and payments infrastructure provider Payall to enable “safe, compliant and efficient” cross-border payments and international money transfers.
Through the collaboration, PXP Financial’s customers will be able to send funds to their partners, employees and suppliers, and will also offer inclusive pay-out options to recipients, so they can receive the funds regardless of whether they are banked or unbanked.
PXP Financial, which begun working with Payall in mid-2022, will now work with the company to open new destinations and new payment channels, including sending to mobile wallets, cash pick-up locations and paying direct to card.
Kamran Hedjri, chief executive officer of PXP Financial, which processes more than €22.7 billion annually through its unified gateway, said cross-border payments have traditionally been “slow, cumbersome and risky” for both payers and financial institutions.
“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,” Hedjri said.
Gary Palmer, chief executive officer of Payall, added: “With a focus on international funds transfer compliance, process automation and payment orchestration, we deliver turnkey technology and power new paradigms that eliminate the inefficiencies and address the complexities of cross-border payments.
“We’re thrilled to support PXP Financial to deliver better-than-fintech service to its customers making international payments.”
Meanwhile, Mastercard’s cross-border services reaches more than 100 markets and 90% of the world’s population.
Rasika Raina, SVP, Mastercard Cross-Border Services, said: “Whether sending money home to families or working with global suppliers, the need for fast, reliable and transparent payments has never been more crucial.
“Through programs like this, we’re making cross-border payments safe, fast and easy for everyone.”