Mastercard has expanded its decade-long collaboration with GPS to launch and grow hundreds of card programs for the world’s most successful FinTech.
GPS has recently accelerated its investment in cloud-based open API technology, raising more than $ 400 million in new capital to drive international expansion into many of the world’s most important markets over the next three years.
London, March 23, 2022-(BUSINESS WIRE)-Global Processing Service (“GPS”), a leading international payment technology platform, today announced a new strategic partnership with Mastercard.
Today’s announcement talks about the volume of a long-standing relationship between two companies that dates back more than a decade. GPS and Mastercard have helped launch and develop hundreds of card programs for the most innovative and successful fintechs in the peaceful world of Europe and Asia, including Revolut, Starling Bank and Curve.
In January 2022, GPS announced a major capital injection of over $ 400 million and the involvement of a range of experienced global growth investors, including Advent International through Advent Tech and its subsidiary Sunley. Viking Global Investors; Singapore-based multinational investment company Temasek and American growth capital company Mission OG.
GPS will invest heavily in international expansion and product development for new, fast-growing industries with ever-increasing adoption, including digital banking, cryptocurrencies, BNPL, open banking, and cross-border payments. am. These are the factors that prompted Mastercard to make strategic investments in the company.
GPS brings fintech customers in networks such as Mastercard to billions of consumers with a reliable and dynamic e-commerce experience using physical and virtual cards in an innovative, fast and secure way. It plays an important role in being able to provide.
GPS’s recent agile, cloud-based technology gives FinTech access to the latest, diverse and growing open API suite that enables ambitious and cryptanalysis market players to quickly scale. Fintech also has access to GPS’s unique ecosystem of global partners, so all of its time and resources are truly important to them: delivering an exceptional customer experience and revolutionizing traditional banking, lending and payments. You can focus on continuous product innovation that brings and advances. service.
Jason Lane, Senior Vice President of European Market Development at Mastercard, said: “We are pleased to formally establish a partnership with GPS and work with GPS to build future FinTech. Mastercard has a long history of partnership with FinTech. They have evolved the industry. As we continue, we ensure that we have the programs, products, and tools that every innovative financial company needs. We provide FinTech-adapted solutions and expertise at each stage of FinTech’s evolution. We support FinTech’s transformation and rapid growth. »»
Joanne Dewar, President and CEO of GPS, said: “The partnership with Mastercard reflects our clear support for API-first payment technology platform and our bold vision for the future of payments. We have been working together for over a decade and many customers are confident. We welcome MasterCard as an investor and help many of the company’s other FinTech customers grow into a global company with the innovation, speed and security they deserve. I am ready. “”
– end –
The text of the press release obtained from the translation should never be considered official. The only genuine version of the press release is the version of the press release in the original language. Translations should always be compared to the source text, which sets a precedent.
View the source version on businesswire.com: https://www.businesswire.com/news/home/20220323005523/en/
Louisa Bartoszek / Sumeet Vermani