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Verituity partners with Mastercard to enhance cross-border payouts

By Delisha Fernandes

April 15, 2024

  • borderless payments
  • Commercial Banks
  • Cross Border Payment
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VerituityVerituity, a provider of intelligent, verified payout solutions, has announced the integration of Mastercard Move, Mastercard’s portfolio of domestic and international money transfer solutions, into its payments platform, enabling near real-time payouts for commercial banks and payers.

In an era where customers increasingly expect faster payments, the need for secure, accurate, and prompt disbursement solutions has never been greater. According to Mastercard’s Borderless Payments Report, one-third of consumers surveyed have experienced late or failed cross-border payments, which can result in inconveniences that impact daily life. Specifically, three-quarters of those who experienced a late cross-border payment could not support themselves financially in some way.

Verituity connects banks, businesses, and payees to verified payouts and intelligent “pay-by-anything” experiences. The cloud-based, white-labeled platform allows payers to customize the payout experience, and payees to receive payments in a manner that best suits them.

“We’re thrilled to join forces with Mastercard to bring more banks into the secure disbursement and remittance ecosystem,” said Ben Turner, CEO of Verituity. “Our innovative turnkey solution will enable banks and businesses to seamlessly use Mastercard Move, including push to card, to make secure, near real time payments while offloading the complexities of verification, integrations and payment modernization.”

With Mastercard Move, Verituity will be able to provide a streamlined path for sending and receiving domestic and international payments. It will reduce the legwork and go-to-market timeframe for banks, businesses and payees. They will also be able to ensure the immediate verification of payees and their transactions, minimizing the risk of errors and enhancing overall transaction security.

“In today’s global economy, the ability to make and receive payments quickly and easily is crucial,“ said Sherri Haymond, executive vice president, Global Digital Partnerships at Mastercard. “Mastercard Move enables secure, near real-time payment transfers to and from billions of card, bank and digital accounts globally. We’re delighted to join forces with Verituity to deliver a seamless and secure payment experience that banks, businesses and consumers can trust.”

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