Inswitch and Mastercard International partner to deliver digital payments
By Edlyn Cardoza
Inswitch, a FinTech technology company focusing on embedded solutions for banking and payments, and Mastercard International Incorporated have partnered to design and deliver digital payment solutions and issuing programs starting with selected countries across LAC.
Inswitch will start issuing cards as a Mastercard principal member in Mexico, with plans to expand quickly to key markets in LAC and other regions in the future. This collaboration will allow the company to extend its value proposition by offering digital and physical Mastercard branded cards for a broad range of applications across industries: “Now our clients can issue branded cards to support different use cases: digital wallets, Buy now pay later, supplier payments, working capital for corporate expenses or cash management necessities; among others,” said Ronald Alvarenga, Inswitch’s CEO.
In addition to the issuing program, Inswitch and Mastercard will work together to integrate their respective assets and solutions, offering an agnostic platform supporting different types of businesses: Business-to-Consumer, Business-to-Business, and Consumer-to-Business. Through this strong collaboration, Mastercard and Inswitch are positioned to deliver a robust turnkey solution in several verticals like e-commerce, Retailers, CPGs, Banks, and Gig economy, among others.
Inswitch solves two urgent problems for enterprises moving to the digital world: it provides a varied payment infrastructure to accelerate the transformation to e-commerce; and innovating beyond payments with a full digital wallet and banking platform; allowing any company to build and launch financial services fast, reliable and around the world. In addition to offering payments and banking an all-in-one platform and a superior user experience, Inswitch will provide Mastercard and its clients with robust management tools to manage the business, including reporting, analytics, white label channels, automatic settlements, and reconciliations.
“We are very excited to have Inswitch as a Mastercard Issuer in Mexico to integrate issuing capabilities and extend the value proposition to all B2C and B2B clients for Inswitch and Mastercard. Inswitch is a company that combines payments, core banking and issuing products in a single stack, that facilities all companies to develop and launch financial services in multiple markets,” said Pablo Cuaron, Vice President Fintech & Enablers for Mastercard Mexico and Central America.
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