xpate becomes Mastercard’s principal member to boost payment services

By Megha Bhattacharya

Payments platform xpate has announced a new partnership with Mastercard with an aim to enhance its payments services as a principal Mastercard participant. xpate will work directly with Mastercard to enhance its xpate Stacks platform, offer its solution to new clients, bolster its merchant acquiring portfolio, and take advantage of an extended range of products and services to strengthen its offering in the market.

Mike Shafro, CEO of xpate, commented, “Our strategic partnership with Mastercard is an exciting milestone for the whole xpate team and further demonstrates the commitment to our vision of offering our customers a simplified and streamlined service. There are hardly bigger names in the fintech space than Mastercard and to be a part of this principal programme so early in our journey is testament to the hard work and talent of our unstoppable team.”

“In addition, this will help to establish transparent and cost-effective pricing for merchant acquiring, and be flexible and robust in the delivering of merchant custom-tailored solutions that narrow the gap on convenient payments acceptance. We are looking forward to working closely with Mastercard and to bring innovative product developments to market in the coming months.”

The company stated that it also plans to launch its app for offering enhanced cross border payment solutions. Recently, FinTech Paysend announced a partnership with Mastercard in a bid to boost its reach and customer base, starting with the UK and EEA. According to the company, the new partnership will support its global approach by offering a platform for strategic expansion, therefore increasing the capacity for inter-regional transactions.

Edoardo Volta, Head of FinTechs, UK & Ireland at Mastercard, said, “We are delighted to bring xpate on as a principal member, reflecting our commitment to supporting fintechs and using cross-collaboration to inspire growth across the industry. By utilising Mastercard’s industry expertise, global standards, and trusted solutions, xpate will bring further choice to the cross-border payments market.”