Mastercard selects GPS for its FinTech Express Programme

By Megha Bhattacharya

Global Processing Services (GPS) today announced that it has been selected by Mastercard as a processing partner in its FinTech Express Programme. The collaboration will enable GPS to utilise Mastercard’s expertise and accelerate FinTech developments. GPS stated that it has already been embedded into Mastercard’s FinTech Express programme.

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.”

According to the company, the FinTech Express Programme allows start-ups to launch rapidly with the provision of a Mastercard license and access to the company’s network through an onboarding process. It also enables the startups to become an Express Partner with the development of tech alliances, connect with qualified Express Partners and go live with Mastercard.

An Express Partner will help brands to simplify the launching of payment solutions, shortening the process from a few months to a matter of days. The programme is also designed to help FinTechs add payment solutions to their suite of products, start-ups looking at serving a new segment, as well as established players with ambitions to innovate through partnerships.

Scott Abrahams, Senior Vice President, Business Development & FinTech, UK&I at Mastercard noted, “Our joint ambitions are to foster payments innovation and further drive the transition to a digital economy, propelling the rapid growth of fintech and providing consumers with greater choice. Our FinTech Express programme enables leading innovators such as GPS to scale at speed, cementing our position as the partner of choice for fintechs across Europe.”