Contis teams up with Mastercard as principal issuing member in Europe

By Megha Bhattacharya

Payments FinTech Contis today collaborated with Mastercard as a principal issuing member. The partnership will enable Contis to deliver an end-to-end Banking-as-a-Service (BaaS) platform including direct access to global payments networks. The FinTech also stated that it has added key functionality to the platform including open banking, international currency conversion, cardless cash delivery and request to pay capabilities which, when linked to its UK and SEPA payment accounts, delivers an end-to-end BaaS solution.

Peter Cox, Executive Chairman and Founder at Contis Group said, “Contis delivers Europe’s most comprehensive payments BaaS platform. We see this partnership with Mastercard as an important step on our journey to becoming a leading global issuer and processor. It will enable us to augment our offering for prospects and clients by bringing more choice to the market, as we deliver secure frictionless payments to businesses and individuals across Europe and beyond.”

According to Contis, the platform integration work will be starting with the expected go-live on the Mastercard network by Q2 2021. Recently, Contis announced a strategic partnership with open banking payments platform, Token in a bid to create new value for payment service providers, banks and merchants across Europe. The partnership is expected to enable Token’s merchant, digital wallet and PSP customers to perform account pay-outs and refunds via the Token platform using established payment rails, such as Faster Payments in the UK, SEPA and SEPA Instant across the EEA.

Scott Abrahams, Senior Vice President Business Development and FinTech commented, “At Mastercard we are proud of our track record with FinTechs across Europe, helping them to rise to the next level by sharing our considerable industry expertise, technology and global standards. We are delighted to be working with Contis to bring greater choice and value to consumers and businesses by delivering frictionless experiences and ongoing innovation.”